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

Last-minute settlement agreement averts West Coast diamond mining lawsuit

05 september 2023

A last-minute settlement agreement was reached between a South African diamond mining company on the West Coast, small-scale fishing villages in the area, and environmentalists, according to local media reports.

Ground Up reports that the agreement avoided a lengthy and costly High Court case.

The settlement agreement reached with Trans Hex Operations, the primary respondent in this legal dispute, was made an official order of court by the Western Cape High Court.

This confirmation ensures that Trans Hex Operations will be prohibited from mining diamonds in any future conservation areas along the West Coast.

These areas include the ecologically valuable Olifants River estuary as well as various other small regions known for their remarkable biodiversity.

In addition, the agreement guarantees that the company will carry out its future operations in compliance with enhanced environmental management programmes (EMPs).

Moreover, it commits to addressing the unique concerns of the Doringbaai and Olifants River small-scale fishing communities, who are among the applicants, through a dedicated study that will be integrated into the updated EMPs.

However, the legitimacy of the government's controversial awarding of 30-year renewals to mining rights without any public input or notification remains uncontested for now.

Protect the West Coast applauded the settlement agreement, asserting that it ensures the preservation of one of South Africa's most biodiverse and delicate ecosystems, safeguards the livelihoods of local fishermen, and unlocks tourism potential.

However, it cautioned that the agreement was only the first step in ensuring that mining on the West Coast is properly managed.

"While this outcome is certainly a victory, it is just one small battle won in the ongoing war against inadequately regulated mining in the region. There is still much work to be done and the fight against unlawful mining on the West Coast is far from over,” the group’s managing director, Mike Schlebach, was quoted as saying.

"But this victory has shown us what is possible in our mission to Protect The West Coast on behalf of its communities, and voiceless natural spaces, with flora and fauna.”

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