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

Norilsk Nickel withdraws from Nkomati joint venture in South Africa

28 november 2023

Norilsk Nickel, through its Norilsk Nickel Africa Proprietary Limited (NNAf) subsidiary, has entered into an agreement to transfer a 50% stake in the Nkomati joint venture to its South African partner, African Rainbow Minerals Limited (ARM).

To date, Nkomati's assets include a deposit of interspersed copper-nickel sulfide ores, an underground mine that was mothballed in 2015, as well as a quarry.

Production was stopped in March 2021, and the Nkomati enterprise is put on maintenance and reclamation.

According to the terms of the signed agreement, in addition to the share in the joint venture, ARM will assume all obligations of Nkomati, including environmental ones, in exchange for the NNAf contribution to be paid in favor of ARM, according to a press release from Norilsk Nickel.

The transaction is expected to close during 2024 after obtaining the necessary permits from South African regulators and fulfilling other closing conditions agreed by the parties.

By concluding this agreement, Norilsk Nickel confirms its commitment to a long-term strategy of exiting non-first-class foreign assets, and also strengthens its focus on implementing a strategy to ensure the reliability and development of a unique mineral resource base and processing facilities in the Russian Federation.

Alex Shishlo for Rough&Polished