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

Newmont completes Newcrest acquisition

08 november 2023

Newmont Corp has strengthened its position as the world's top gold producer after finalizing the acquisition of an Australian miner Newcrest.

“Today marks a historic milestone in our company and the industry with the successful completion of this transformational acquisition of Newcrest by Newmont,” said Newmont's president and CEO Tom Palmer.

The combined yearly output of a merged company will amount to 8 million ounces of gold (250 t). Newmont also operates sizeable copper mining projects.

After the deal which was valued at around $15 billion, Newmont's shareholders will own about 69% of shares of the merged company, while the remaining 31% stake will be distributed to former Newcrest's shareholders.

After almost a year-long acquisition process, the group’s attention is now turning to safely integrating Newcrest’s assets and people into Newmont.

The transaction strengthened Newmont’s position as a gold mining leader through the combination of high-quality operations, projects and reserves concentrated in low-risk jurisdictions, including ten tier-one operations.

Now, with all regulatory hurdles out of the way, the combined company can start a process to sell mines and decide which exploration projects to prioritize over the next two years, Palmer said.

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