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

Polymetal increased gold production in Russia by 14%

02 november 2023

Polymetal Int (combines the assets of Polymetal JSC) published its production results in Russia for January-September 2023.

Gold equivalent production in the first nine months of 2023 increased by 14% year-on-year to 28.9 tons due to the launch of new production at the Krasnoturinsk-Polymetal factory, as well as production growth at the Albazino, Omolon, Nezhdaninskoye and Mayskoye fields.

The company expects to fulfill the annual production plan of 38.5 tons in gold equivalent.

Polymetal's revenue for the first nine months of 2023 increased by 36% year-on-year to $1.55 billion as a result of increased sales and metal prices. EBITDA for the period increased by 161% and reached $694 million due to revenue growth and lower operating costs due to the weakening of the ruble.

Net debt in January-September increased by 4% to $2.21 billion.

Polymetal is a leading producer of gold and silver in Russia.

Alex Shishlo for Rough&Polished