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

Highland Gold and GV Gold sanctioned by the US

19 december 2023

U.S. authorities have included Russian gold mining companies Highland Gold and GV Gold (Vysochaishy PJSC) and their founders in the Specially Designated Nationals (SDN) list. Now almost all major Russian precious metal mining companies market are under sanctions, Kommersant reports.

In particular, economic restrictions were imposed on Vladislav Sviblov. In addition to Highland Gold, the businessman owns the Chukotka Mining and Geological Company, Kamchatka Gold and the Ozerny Mining Company. All of these assets have also been sanctioned.

Experts interviewed by the media believe that because of this, the launch of the Ozerny MMC at the lead and zinc deposit of the same name may be postponed. The commissioning of the enterprise is scheduled for 2024.

According to analysts, the sanctions may also affect the price of zinc on world markets.

Kommersant's industry sources emphasize that sanctions against Russian gold miners have failed to radically restrict their activities. Over the past year, these companies have reoriented their supply chains to China, the UAE and Turkey, as well as increased their presence in the domestic market.

Alex Shishlo for Rough&Polished