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

Codelco to acquire Australian lithium junior after approval by shareholder

23 january 2024

Codelco, the world’s biggest copper producer, is set to take over Lithium Power International, an Australian junior mining company that owns a lithium project in northern Chile.

The Australian company's shareholders almost unanimously voted in favor of a takeover. The company would be valued at AUD385 million ($254 million). The purchase is Codelco’s first in lithium segment as the state-owned firm targets Lithium Power’s project in the Maricunga salt flat of northern Chile.

A total of 99.5% of Lithium Power shareholders were in favor of the takeover, the company said a statement on Tuesday. Owners of the company’s stock will receive A$0.57 in cash per share, a premium of 119% over the closing share price on Sept. 26.

The takeover faces a final confirmation at a court hearing scheduled for next month.

According to Bloomberg, Codelco has been tapped to represent the Chilean state in a new public-private model for lithium as President Gabriel Boric looks to open up new areas for production to meet growing demand from the EV boom. The South American nation is the biggest lithium supplier after Australia but has lost market share.

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