Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Pan African secures funding for Mintails project

04 august 2023

Gold producer Pan African has secured R1.3 billion ($70.3 million) in funding for its Mintails project in South Africa.

The funding was provided by Rand Merchant Bank, a division of FirstRand Bank Limited (RMB), with Nedbank (acting through its Nedbank Corporate and Investment Banking division), as co-financier.

In total, the group raised R2.5 billion in debt funding for the project, as it gathered R800 million in December 2022 and R400 million in March this year.

“This important milestone completes the funding package for Mintails’ development capital,” said Pan African chief executive Cobus Loots.

He said full-scale construction of the tailings retreatment plant at Mogale will now commence, with expected production of 50,000 ounces per year for more than 20 years (when including both the Mogale and Soweto tailings resources).

This would be done at an all-in-sustaining cost similar to that of the group’s highly profitable Elikhulu operation at Evander.

The group said it will commission the project in the latter half of the 2024 calendar year, not the 2025 calendar year as previously planned following the closure of the project funding.

Mintails was put under provisional liquidation in 2018.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished