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

Barrick to start first production at Lumwana copper mine in 2028

26 january 2024

Barrick has accelerated the Lumwana copper mine’s super pit expansion project with the first production now scheduled for 2028.

Barrick president and chief executive Mark Bristow advised Zambian president Hakainde Hichilema at their meeting that the project will transform Lumwana into one of the world’s major copper mines, with a projected annual production of around 240,000 tonnes per year over a 30-year plus life.

The estimated cost of the project is almost $2 billion and construction is scheduled to start towards the end of this year.

Lumwana, the once struggling mine, has been restructured and re-engineered into a significant contributor to Barrick’s expanding copper portfolio. 

The ramp-up of the reopened Malundwe pit and completion of the transition to owner mining supported the achievement of its production guidance for 2023.

“We are in discussion with the Ministry of Green Economy and Environment to facilitate the required licensing and our partnership with local government,” said Bristow.

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