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

Goznak's profit to stay at 2022 levels this year, gold bullion sales to individuals to reach 1bn rubles

26 october 2023

The state-owned enterprise Goznak plans to receive an annual profit of 8.9 billion rubles ($89 million) in 2023, on a comparable level to last year, company CEO Arkady Trachuk said at a press conference.

According to him, Goznak's revenue in 2023 may exceed last year's figure by about 5%.

In addition, the company's gold sales at the end of the year may approach 1 billion rubles ($10 million) thanks to a law adopted in April allowing individuals to buy gold bullion without VAT directly from refineries and from Goznak. The state-owned company began selling gold bars to individuals in May.

Goznak's revenue from product sales in 2022 increased by 14.2% and amounted to 54 billion rubles ($54 million).

Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished