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

Jubilee secures capital to expand copper mining in Zambia

20 december 2023

Jubilee has successfully concluded a placement of 236 million new ordinary shares, bringing the total gross proceeds from the offering to £13 million (approx.$16.5 million) for 5.5 pence per share.

Jubilee plans to utilise the revenues to expedite the implementation of its copper operations in Zambia and advance the Copper Waste Rock Project, which it has just acquired in conjunction with International Resources Holdings.

Proceeds will also be used for the initial payment of $1.75 million required under the agreement for the procurement of the copper waste rock dump, as well as to advance the design of the resource and process, which totals about $4.5 million.

The company will allocate about $5.7 million of the proceeds towards expanding the sulphide recovery circuits at its Sable Refinery in Zambia. 

This expansion is necessary to accommodate the increasing production of sulphide concentrate resulting from recently acquired properties.

Jubilee intends to advance the Mufulira slag project's development phase with the implementation of early-stage bulk testing and processing. 

This undertaking is anticipated to cost about $2.5 million.

“Fundamental to this support was the recognition of the potential value and scale of copper production that this new copper Waste Rock Project affords Jubilee,” said Jubilee chief executive Leon Coetzer.

“The additional value in accelerating the implementation of this project over and above our current commitment to the expansion of both chrome and copper further adds to this potential value for Jubilee.”

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