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

Russian Copper Company sanctioned by the US

19 september 2023

The Russian Copper Company (RMK) has been included in the SDN list by the U.S. Now the mining holding has no right to conclude transactions with American companies, and its assets in the United States, if any, will be frozen.

According to dprom.online, after RMK was included in the sanctions list, only Norilsk Nickel had the right to do business with the United States among major copper producers. Earlier, the ban was extended to Udokan Copper even before the start of production, as well as to the Ural Mining and Metallurgical Company.

RMK does not publish operational reports, and it is unclear whether sanctions will have an impact on the company's activities. According to experts, the figures of copper exports, despite economic restrictions, should remain approximately the same as in 2022.

Companies have already rebuilt logistics chains and are actively working with Asian consumers. In addition, exports to Europe, although reduced, have not been completely stopped.

The updated sanctions list also includes Vorkutaugol and AGD Diamonds. The private diamond mining holding, although officially sanctioned for the first time, has already faced economic restrictions: in its report last year, it noted difficulties with logistics and calculations.

Alex Shishlo for Rough&Polished