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

Cobalt price slump eats away at mining companies' profits

19 january 2024

The majority of cobalt producers may be losing money on every ton of cobalt they produce after a price slump last year, Reuters reported with a reference to Benedikt Sobotka, CEO of Eurasian Resources Group (ERG).

"Cobalt had a terrible year in 2023. The lack of supplier discipline in adding new capacity has really pulled the rug under the cobalt market," said Sobotka to Reuters at the World Economic Forum in Davos. ERG is 40% owned by the Kazakhstan government and has assets in Kazakhstan, the Democratic Republic of Congo (DRC) and Brazil producing cobalt, copper, aluminium and ferroalloys.

Cobalt market supply spiked last year and prices fell helped by the soaring output at the major $1.8-billion Kisanfu mine in the DRC operated by Chinese mining giant CMOC, as well as rising production in Indonesia and a rebound in exports from CMOC’s other operation in Congo, Tenke-Fungurume. The surplus persisted through 2023 as prices slumped around 30%. Cobalt is one of the key components for EV batteries.

The market fundamentals, however, remain intact as global EV penetration rates are growing, Sobotka added.

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