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.

Yesterday

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

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Harmon Gold exceeds its output forecast

25 august 2023

Harmon Gold has achieved the top end of its fiscal year (FY) 2023 production target of 1.4 to 1.5 million ounces of gold at an all-in-sustaining cost of less than R900 000 ($48 665) per kg.

Peter Steenkamp, the chief executive officer of the company, stated that underground recoverable grades also exceeded the upper end of the estimated 5.45 to 5.6g/t range.

“Our embedded approach to safety, and operational excellence, alongside our improved asset quality, resulted in a strong and sustainable group performance with solid free cash flows,” he said.

“We will continue allocating growth capital to our high-grade underground and high-margin surface source operations in South Africa and expanding our international copper-gold portfolio.”

A foreign exchange translation loss of R634 million ($36 million) for the year, compared to a loss of R327 million ($21 million) in FY22, was primarily related to the deterioration of the Rand/US$ exchange rate year over year, which negatively impacted the translation of US dollar loan balances.

Deferred taxes shifted from a credit of R353 million ($23 million) in FY22 to an expense of R1.08 billion ($61 million) in FY23, primarily due to increasing property, plant, and equipment carrying values and utilisation of unredeemed capital expenditure, the company reported.

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