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

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

Vedanta offers to pay Zambia's creditors

25 august 2023

Vedanta Resources is prepared to pay $250 million owed to suppliers in Zambia before regaining ownership of copper mines seized by the government of Zambia more than four years ago.

In 2019, the previous government under President Edgar Lungu instructed the Konkola Copper Mines to undergo provisional liquidation.

They accused Vedanta, which is owned by Anil Agarwal, of providing false information about their development plans and not paying the appropriate amount of taxes.

A series of court cases occurred as a result, which ultimately led to the current president, Hakainde Hichilema, seeking a peaceful resolution.

Bloomberg quoted Agarwal, who seeks to lower the parent company's enormous debt burden, as saying that he intends to pay off all creditors to win the hearts of the people.

He also promised to invest $1 billion in Konkola and more than triple copper production from the plant.

Its mines produce approximately 50,000 metric tonnes of refined copper.

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