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

SA union mulls wage strike at De Beers' new underground mine

08 september 2023

De Beers' new $2.3 billion underground facility could be disrupted by a strike that the National Union of Mineworkers (NUM) of South Africa is planning after pay talks collapsed, according to a media report.

NUM, the largest union in South Africa, claimed its members wanted a 9% wage raise, whereas De Beers, a subsidiary of Anglo American, only offered 6%.

"The NUM can confirm that the four-month wage negotiations with the world's leading diamond company De Beers have collapsed and a dispute has been declared at the Commission for Conciliation, Mediation and Arbitration (CCMA)," Reuters quoted NUM as saying.

The CCMA mediates and certifies the results of labour disputes in the country.

NUM has not announced a strike start date, but has indicated it is mobilising its "more than 1,500 members, preparing them for a protected indefinite strike".

Workers in South Africa are required by law to provide 48 hours’ notice before beginning a strike.

De Beers ended open pit mining operations in December 2022 at Venetia after 30 years and switched to the new $2.3 billion underground mine last July.

The group estimates that the Venetia underground mine will yield about 4 million carats of diamonds per year by 2023, or about 12% of the company's forecasted group output.

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