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

Pan African gold prices, output grow

23 january 2024

Pan African recorded a gold price of $1,961 per ounce (oz) in the half-year ended December 31, 2023, an increase of 13.7% compared to $1,725/oz a year earlier.

It could not reveal what pushed the prices higher.

The miner said its gold production rose 6.7% to 98,458oz from the previous year’s 92,307oz.

It also said production costs were well managed despite inflationary pressures, with group all-in-sustaining costs (AISC) expected to be about $1,300/oz, below the fiscal year 2024 guidance of $1,350/oz.

The AISC reduction resulted from cost control, improved gold production, as well as the weaker US$/ZAR exchange rate that prevailed during the reporting period.

Pan African said production guidance for the full 2024 year was maintained at between 180,000oz and 190,000oz from 175,209oz in fiscal year 2023.

“However, given the excellent production performance in the reporting period, revised guidance may be considered in due course,” it said.

“Production for FY2025 is expected to be significantly higher, following the commissioning of the MTR project, which will add approximately 50,000 oz/yr to group production, increasing annual output by some 25%.”

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