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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

Anglo American Platinum divests stake in Kroondal JV

06 november 2023

Anglo American Platinum has divested its 50% stake in the Kroondal joint venture (JV), comprising the Marikana and the Kroondal pool-and-share agreements (PSA), to Sibanye-Stillwater, which holds the remaining 50% of the PSAs.

Kroondal's infrastructure was utilised to mine through the border into Sibanye Stillwater's Rustenburg operations resource.

This resulted in increased value for all parties involved, as Anglo American Platinum was able to generate cash flows from its 50% share of the remaining economic reserve of Kroondal earlier and at a lower cost of production (after optimising the mine plan to extract the resource from both the Rustenburg and Kroondal mining right areas).

The company processed this material through the pre-existing Kroondal purchase of concentrate arrangements.

Upon receipt of the complete 1.35 million 4E ounces, which is anticipated to occur in the second quarter of 2024, the disposal will become effective.

In exchange for R1 (0.05 US cents), Anglo American Platinum shall divest its 50% stake in the PSAs, transferring to Sibanye-Stillwater all assets and liabilities (including all closure costs and rehabilitation liabilities).

Additionally, if the currently unmined Merensky mineralisation, which is yet to be classified as a Mineral Reserve, is extracted in the future, the company will receive a deferred compensation of one Rand per tonne mined (the rate being subject to metal prices at the time of extraction).

“The sale of our interest in Kroondal to Sibanye-Stillwater represents a positive step towards simplifying Anglo American Platinum’s portfolio,” said Anglo American Platinum chief executive Craig Miller.

“We have expedited the effective date to allow us to focus our attention and resources on maximising the value [of] our core assets.”

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