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

Russia to increase gold production

15 september 2023

Plans to develop new gold deposits in the Trans-Baikal and Khabarovsk Territories of Russia, as well as in the Magadan region were announced on the sidelines of the Eastern Economic Forum in Vladivostok.

In the Trans-Baikal Territory, there are plans to invest in the development of the Ikabya-Chitkandinskaya and Ushumunskaya fields. The first one contains various deposits of copper, gold and silver. The projected resources are estimated at 11.2 million tons of copper, 391 tons of gold, 23.600 tons of silver, the regional government reported. The resources of the second site are 100 tons of gold.

To extract resources, investors are ready to invest 16 billion rubles in the projects.

In the Khabarovsk Territory, production is going to start at the Chulbatkan field. The project will be handled by PJSC Polyus, the largest gold producer in Russia. The mine is to become operational after 2029-2030.

In the Magadan region, the Cedar and Verkhne-Khakchanskoye deposits will be put under development. They are part of the Magadan mining cluster, and after 2026, when the processing plant will be put into operation, they will bring a total of 5 tons of gold per year. The reserves are estimated at 150 tons, and the life of mine is expected until 2043. Investments will exceed 10 billion rubles, reports.

Alex Shishlo for Rough&Polished