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

Sibanye-Stillwater boosts Q3 PGM output at SA operations

07 november 2023

Sibanye-Stillwater’s platinum group metal (PGM) operations in South Africa produced 451,560 4E oz during the quarter that ended September 30, 2023, which was 4% higher than 432,143 4E oz recorded a year earlier.

The output excluded third-party purchases of concentrate (PoC).

The growth, it said, was due to improved production from the Rustenburg and Marikana operations, which offset lower production from the Kroondal operation as a consequence of the planned closure of the Simunye shaft in 2022.

Sibanye said production, including PoC, was 6% higher year-on-year at 475,555 4E oz due to third-party PoC processing increasing by 44% to 23,995 4E oz year-on-year.

The company said no ore stockpiles were reported at the end of the quarter, compared with the end of the third quarter in 2022, when underground ore containing about 33,000 4E oz was stockpiled on the surface.

“The group's strategic response to the load curtailment has been very effective, underpinned by the relative advantage of processing capacity that averts the risk of accumulating ‘deferred production’,” it said.

Following the sharp decline in the 4E PGM basket price, Sibanye said that it will need to restructure to ensure long-term profitability and sustainability, as four of its shafts have become unprofitable.

It said chrome sales from the SA PGM were 1% lower year-on-year at 554,000 tonnes during the third quarter of 2023.

The chrome price received increased by 28% year-on-year to $290 per tonne from the previous year’s $227 per tonne, underpinning a 25% increase in chrome revenue to R1 billion ($56 million).

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