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

Anglo American Platinum to meet 2023 production, cost guidance

08 december 2023

Anglo American Platinum (Amplats) is expected to meet its 2023 production and cost guidance despite a broad set of external pressures.

It said metal-in-concentrate and refined production is expected to be within guidance at about 3.8 million PGM ounces.

Total capital expenditure for 2023 is also projected to be around R20.5 billion ($1.1 billion), which is R1.5 billion ($80 million) lower than previous guidance, primarily due to delays in spending for the Mototolo-Der Brochen life extension and optimisation of cashflows.

Its cash operating unit costs are anticipated to be within the upper end of guidance at about R17,800 ($946.14) per PGM ounce.

“In responding to the prevailing weakness of the PGM basket price environment and persistent cost inflation, we are deploying a series of measures to improve our competitive position while preserving our long-term optionality,” said Amplats chief executive Craig Miller.

“This action plan includes initiatives to reduce both annual costs by R5 billion ($266 million) and stay in business capital by R5 billion in 2024.”

He said they are also resequencing growth investments and prioritising higher margin production from their operations through their processing facilities.

“These measures will allow us to capitalise on our industry-leading portfolio for the long-term benefit of our stakeholders,” said Miller.

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