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

Bystrinsky MPP is now 100% Russian-owned

11 january 2024

Norilsk Nickel has concluded the process of changing the jurisdiction of its Bystrinsky mining and processing plant (MPP) to become 100% Russian-owned by excluding a Cypriot company GRK EASTERN GEOLOGY LIMITED (currently being liquidated) from its ownership structure.

The Cypriot company's shareholders received shares of Holding Company BYSTRA in proportion to their stakes in the authorised capital, thus the distribution of shares among the shareholders of Bystra remained unchanged: Nornickel — 50.01%, Interros — 36.66% and United Resources Limited (a structure of the HOPU Investments fund) — 13.33%.

Vladimir Potanin, President of Nornickel, said: “Bystra is one of Nornickel’s most modern businesses. The move to the Russian jurisdiction will allow our Zabaikalsky asset not only to protect the interests of all shareholders, but also to maintain high standards of corporate governance and invest in the domestic economy, including the Far East regions”.

The exclusion of the Cypriot company from the ownership structure of Bystrinsky GOK was made possible by an order of the President of the Russian Federation signed on 13 June 2023.

The Bystrinsky MPP mines and processes ore from the Bystrinsky polymetallic deposit using open pit mining methods and produces copper, iron ore and gold concentrates. It is a state-of-the-art production facility that utilises the latest equipment and employs advanced technologies. Bystrinsky prioritises constructive industrial policy, production efficiency and safety, and addressing environmental issues.

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