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

Dundee Precious Metals sees growth as it prepares to acquire Osino

26 december 2023

Dundee Precious Metals (DPM) has acquired Osino Resources, including the Twin Hills open-pit gold project and other exploration assets in Namibia.

DPM offered Osino shareholders C$0.78 (59 US cents) in cash and 0.08 of a DPM common share for each Osino share.

This transaction has an implied value of C$1.55 ($1.17) per Osino share and an equity value of C$287 million ($216 million).

Since 2010, DPM has maintained the Tsumeb specialised smelter in Namibia, where it processes concentrate sourced from its Chelopech mine in Bulgaria.

By acquiring Twin Hills, the company will increase its current gold production profile of 258,000 oz/y from the Ada Tepe mine in Bulgaria, in addition to the Chelopech and Ada Tepe mines.

Osino concluded a feasibility study on Twin Hills in June 2023, which delineated an open pit project with a thirteen-year mine life and an anticipated annual average gold production of 175,000 oz for the initial five years. 

The commencement of production is aimed at the latter part of 2026.

DPM seeks to complete the remaining engineering tasks for Twins Hills to decide on construction by the third quarter of 2024.

During this period, DPM will seek out possibilities to enhance and optimise the mining, building, and execution components of the undertaking, leveraging its expertise in managing and expanding its current portfolio.

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