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

BHP conducts strategic assessment of newly acquired Brazilian gold and copper assets

04 september 2023

BHP Group, the world’s biggest mining company, is conducting a strategic review of the Brazilian copper and gold assets it acquired with the takeover Oz Minerals, Mining Weekly reports.

The $6.4-billion purchase of Oz Minerals included an untapped gold deposit and four small, but high-grade, copper-gold mines in the state of Para.

The takeover was a part of BHP's strategy to move towards key green-energy transition minerals. According to the company, the so-called “future-facing” metals, which also include nickel and fertilizer ingredient potash, are central to its growth as iron ore use plateaus and the world moves away from fossil fuels.

“It’s about understanding the resources and the opportunities. We haven’t operated before in Brazil,” said Carla Wilson, BHP's Brazil’s country manager. “But it’s clearly a region of future facing commodities, which BHP is very focused on: copper, nickel.”

Until the acquisition, BHP’s presence in Brazil was confined to Samarco, an iron ore producer. The company still faces the consequences of a 2015 deadly dam collapse, including a lawsuit in the UK and the renegotiation of a compensation settlement with Brazilian authorities, both potentially involving billions of dollars.

Samarco just got approval for its judicial recovery plan, in a years-long debt restructuring triggered by the disaster. Wilson said BHP is focused in repairing the damage caused and getting output back to full capacity by 2028. Samarco’s iron-ore pellets command a premium as they are used to produce low-carbon steel.

Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished