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

Norilsk Nickel pays windfall tax ahead of schedule

08 january 2024

In October 2023, Norilsk Nickel paid the excess profit tax (windfall tax) in the amount of 8.2 billion rubles ahead of schedule.

“In 2023, Norilsk Nickel exercised the right to early payment of an additional tax levy (the so-called windfall tax), paying 8.2 billion rubles in October,” the company said in a statement, as cited by TASS.

Previously, a company representative told TASS that Norilsk Nickel made a security payment for the windfall tax; the company took advantage of the opportunity to reduce the tax amount to an effective rate of 5% by transferring the security payment ahead of schedule.

In the summer of 2023, Norilsk Nickel's press service stated that the company could pay an excess profit tax of about $94 million (8.145 billion rubles) subject to payment of a security deposit.

A one-time windfall tax is paid by large companies whose average profit for 2021 and 2022 exceeded 1 billion rubles.

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