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...


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

Lower metal prices cut Jubilee’s profitability in FY2023

12 october 2023

Diversified metal recovery business Jubilee Metals’ earnings before interest, taxes, depreciation, and amortisation (EBITDA), which is an indicator of the overall profitability of a business, dropped to $29.8 million in the fiscal year (FY) 2023 compared to $48.9 million a year earlier (FY2022).

Revenue from the company’s operations in South Africa and Zambia decreased by 8% to $171 million in FY 2023 from the previous year’s $186 million with growth in US dollar chrome revenue predominately offsetting the decrease in platinum group metal (PGM) revenue.

“From a commodity price perspective, we have witnessed a challenging PGMs price environment with the basket price now trading at $1359, which is 46% below the FY2022 average and 21% below the FY2023 average,” said company chairperson Ollie Oliveira.

It also registered an 8% decrease in chrome margins mainly due to power constraints during the first half of FY2023 and a 19% drop in copper revenue per tonne to $7 451 from FY2022’s $9 210.

Meanwhile, Jubilee said it registered record production figures across its PGM, chrome and copper operations with 42 433 PGM oz up 2%, 1,29 million chrome concentrate tonnes up 7% and 2 923 copper tonnes up 29%.

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