Nosiphiwo Mzamo: South Africa’s State Diamond Trader to buy diamonds from other African countries

South Africa’s State Diamond Trader (SDT) is set to buy diamonds from other African countries starting with Botswana. SDT’s chief executive Nosiphiwo Mzamo told Rough & Polished’s Mathew Nyaungwa at the country’s inaugural diamond show, which...

10 february 2025

Edahn Golan: Halo effect from lab-grown diamonds driving high demand for large, 2-carat natural stones in the U.S.

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough & Polished's Mathew Nyaungwa in an exclusive interview that their research found a halo effect from lab-grown diamonds. He said the trend among lab-grown diamond...

27 january 2025

Paul Zimnisky: We will see a modest recovery in natural diamond demand and prices in 2025

According to Paul Zimnisky, an independent diamond and jewellery analyst and consultant based in the New York metro area, the natural diamond industry will see a modest recovery in demand and prices this year. Zimnisky said a moderate recovery would...

13 january 2025

African Diamond Council makes traceability its top priority, wants KP to embrace Authentia.io

The African Diamond Council (ADC) has made traceability its foremost priority and has been contributing to a traceability solution called Authentia.io for the last three and a half years, which is now ready to globally satisfy the traceability...

16 december 2024

Gaetano Cavalieri: CIBJO leading the jewelry industry on critical issues

One of the gem and jewellery industry’s most well-known and respected personalities, Dr. Gaetano Cavalieri, has been the president of the World Jewellery Confederation (CIBJO), for the past 23 years. CIBJO is the oldest international organisation...

09 december 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