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...

Yesterday

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

Northam Platinum boosts FY2023 sales revenue, 4E output

15 august 2023

Northam Platinum’s sales revenue for the fiscal year 2023 rose 16% to R39.5 billion ($2.0 billion) compared to R34.1 billion ($1.74 billion), a year earlier.

It said the increase in sales revenue was the combined result of a 20% increase in platinum, palladium, rhodium, and gold (4E) sales volumes to 885 347 oz 4E in F2023 from the previous year’s 737 923 oz 4E and a 6.9% decrease in the 4E ZAR basket price to R37 488/oz 4E compared to R40 286/oz 4E in F2022.

The lower ZAR basket price is the combined result of a lower 4E US dollar basket price of $2,112/oz 4E from F2022’s $2,640/oz 4E and an increase in the average ZAR/USD exchange rate achieved.

Northam said total revenue per equivalent refined 4E ounce sold decreased by 3.2% to R44 670/4E oz compared to the previous year’s R46 162/4E oz.

This, combined with the unit cash cost increasing by 12.6% from R20 278/4E oz to R22 824/4E oz in F2023, led to a decrease in the cash profit margin per 4E ounce to 48.9% from F2022’s 56.1%.

Northam said an increase in sales revenue led to a gross profit of R15.4 billion compared to R14.9 billion in F2022, and a gross profit margin of 39.1% compared to F2022’s 43.7%.

The group said earnings before interest, taxation, depreciation, and amortisation (EBITDA) amounted to R16.5 billion.

Meanwhile, Northam’s equivalent refined metal from its operations increased by 13% to 809 775 oz 4E in the fiscal year 2023 compared to 716 488 oz 4E, a year earlier due to strong production performance from its mines in South Africa.

“Challenges remain, particularly in respect of high mining inflation and the potential for further and possibly more severe Eskom load curtailment events,” it said.

“However, our growth and operational diversification programmes remain on track and continue to demonstrate the value of our counter-cyclical investments and execution capacity across the group, as well as our flexibility in dealing with these challenges.”

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