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

IRH to invest $1.1 billion in Mopani Copper Mines

27 december 2023

ZCCM-IH has entered into an agreement with International Resources Holding (IRH), under which it has committed to invest a total of $1.1 billion in Mopani Copper Mines (MCM) as a strategic equity partner (SEP).

It said $620 million will be provided in the form of new equity capital in return for a 51% stake in MCM, which will be used for MCM's capital projects and to stabilise the working capital position of the business.

ZCCM-IH said at least $400 million will be provided as a shareholder loan to MCM by way of novation of the Glencore debt, which will be used as part of the consideration to settle the original Glencore transaction debt of $1.5 billion.

Further capital may be made available to MCM as shareholder loans, if required, based on the future working capital requirements of the business, it said.

ZCCM-IH took full control of MCM from Glencore in 2021, with a plan to find a suitable SEP to contribute to the expansion of the business and provide the necessary capital for growth.

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