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...

Yesterday

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

DRC to build copper-cobalt smelter for informal miners

29 september 2023

The Democratic Republic of the Congo has expressed support for a new copper-cobalt facility that will be owned and operated by local investors to formalise the country's artisanal mining sector.

Executives from the two businesses and the government announced that the privately held Congolese company Buenassa will develop the project with help from Washington-based financial advisory firm Delphos International, according to Bloomberg.

Since Congo provides over 70% of the world's cobalt and is among the top three copper producers, it will play an important part in the global transition to green energy.

Industrial mines controlled by foreign companies like Glencore and China's CMOC Group account for the majority of the country's output, although the government and businesses have been under pressure to improve working conditions for informal miners.

Delphos's participation also exemplifies the West's efforts to lessen its reliance on China by increasing domestic production of critical minerals like copper and cobalt.

Delphos is a government contractor that focuses on development and export-credit finance.

Delphos International chairperson Roya Rahmani said that the company decided to join the smelting project in large part because the United States agreed to back a proposal between Congo and neighbouring Zambia to build an electric-vehicle value chain.

The Congolese businessman Eddy Kioni's company, Buenassa, is collaborating with the state-owned Entreprise Generale du Cobalt, which has exclusive rights to all of the cobalt mined in the country by hand.

Since its 2019 inception, when it sought to help legitimize and improve the conditions of so-called artisanal mining, EGC has struggled to establish operations.

“The idea is to reverse the way the minerals and the wealth generated is controlled,” Kioni said in an interview last week on the sidelines of the annual United Nations General Assembly meetings in New York.

The hundreds of thousands of Congolese who mine the minerals by hand were a major source of supply for Buenassa's original intention to generate 30,000 t of copper cathode and 5,000 t of cobalt hydroxide. Kioni, though, believes the project will grow with Delphos' and the government's support.

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