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.

Yesterday

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 and Rosatom increased the registered capital of Polar Lithium to 2.6 billion rubles

23 january 2024

The registered capital of Polar Lithium LLC has been increased from 1 million rubles to 2.625 billion rubles, Interfax reports.

Polar Lithium holds a license to develop Kolmozersky, Russia's largest lithium deposit in the Lovozersky district of the Murmansk Region. The company is 50-50 owned by Norilsk Nickel Technical Services and Atomredmetzoloto, subsidiaries of Norilsk Nickel and Rosatom, respectively.

In February 2023, the joint venture received a license to develop the Kolmozersky lithium deposit until February 20, 2043.

The Kolmozersky lithium deposit is considered the largest in Russia (75 million tons of lithium ores, 18.9% of domestic reserves) and the most promising one.

Kolmozersky reserves allow for up to 40 years of production at 2 million tons of ore per year, from which 45,000 tons of lithium carbonate will be extracted. The completion of the design and geological exploration work is planned within a few years. The mine is expected to reach a design capacity by 2030.

Currently, lithium is imported for the needs of the Russian industry. It is one of the key elements for the production of batteries (including EV).

Alex Shishlo for Rough&Polished