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

Implats forecasts poor earnings due to weak dollar metal prices

17 august 2023

Impala Platinum (Implats) recorded a decline of 18% in its earnings for the fiscal year ended on June 30, 2023, mainly due to a decrease in realised dollar metal prices.

However, this impact was partly mitigated by a 16% drop in the value of the rand.

The escalating occurrences of load curtailment and cable theft in South Africa have had a detrimental effect on sales volumes, resulting in a combined loss of around 147,000 6E ounces of refined production, it said.

Implats said cash costs were negatively affected by higher inflation.

In addition, due to the lower US dollar rhodium price towards the end of the period, a substantial R2.1 billion (post-tax) write-down of closing inventories was incurred, greatly affecting its overall profitability.

Implats' expected headline earnings for the period are projected to decline by a significant margin, ranging from 38% to 44%.

This would amount to a substantial decrease, reaching between R18 billion and R20 billion ($941.4mn - $1.05bn).. Furthermore, the company's HEPS for the period is anticipated to drop by approximately 39% to 45% and fall within the range of 2,117 cents to 2,352 cents per share.

The headline earnings and HEPS for the prior period were R32 billion and 3.85 cents, respectively.

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