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

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Barrick to pour first gold from two newly-commissioned projects in 2024

11 december 2023

Barrick Gold, a leading gold mining company, plans to produce first bullion from its two new projects in USA and Papua New Guinea in 2024.

The company said on Monday that the US Bureau of Land Management has approved the plan of operations for the Goldrush underground mine operated by Nevada Gold Mines, a Barrick's joint venture with Newmont. The mine is a part of the Cortez complex, and its ramp-up is set to start next year.

Goldrush will produce 130 000 oz of gold in 2024 and will grow to about 400 000 oz a year by 2028, the company said. Barrick and NGM have invested more than $370 million in the project out of $1 billion planned for a full ramp-up.

Meanwhile, the Porgera gold mine in Papua New Guinea that was shut down in April 2020, will resume production this month and pour first gold in the first quarter of 2024, Barrick reported.

The Porgera project is 51% owned by Papua New Guinea stakeholders, including local landowners and the Enga provincial government, and 49% by its operator, Barrick Niugini Limited, a joint venture between Barrick and Chinese miner Zijin. The Papua New Guinea shareholders will receive 53% of Porgera’s overall economic benefits.

The Porgera mine “undoubtedly” has the potential to join the Barrick's tier-one gold mine portfolio, said president and CEO Mark Bristow in a statement.

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