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

Sibanye concludes Kloof 4 restructuring talks with stakeholders

05 december 2023

Sibanye-Stillwater has finished consulting stakeholders affected by the proposed restructuring of its South African gold operations due to the Kloof 4 shaft losses.

The consultations lasted 78 days and addressed avoidance methods to reduce retrenchments and job losses at the Kloof 4 shaft and associated services.

Sibanye-Stillwater announced last September that it would restructure the operation due to long-term losses and Kloof 4 shaft constraints.

It was estimated that 2,389 employees and 581 contractors could lose their jobs.

The group said 1,057 affected employees accepted transfers to fill vacant positions at its other South African gold operations, and 550 Kloof 4 shaft employees were granted voluntary separation or early retirement packages.

The Kloof 4 shaft decommissioning will also retain 176 staff and 23 contractors.

The agreed-upon avoidance measures did not accommodate 575 employees, who will be laid off.

“While the decision to close or restructure operations is never taken lightly, the closure of Kloof 4 was necessary to curb ongoing financial losses,” comments Sibanye CEO Neal Froneman.

"The... consultation process encouragingly achieved this required outcome while also reducing the number of retrenchments. We acknowledge and thank all stakeholders for their constructive engagement.”

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