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

Freeport increases gold production, reports slump in net income in 2023

26 january 2024

Freeport-McMoRan Inc., an international mining company with headquarters with headquarters in Phoenix, Arizona, reported that its revenue for the full 2023 year was flat on the previous year at $22.9 billion, while net income for the full year slumped 47% to 1.85 billion.

Consolidated production for 2023 totaled 1.9 million tons of copper and 1.99 million ounces of gold. Gold output was up 10% year on year from 1.81 million ounces in 2022. Copper production was mostly unchanged.

Average realized prices were $3.85 per pound of copper and $1,972 per ounce for gold in 2023. The company expects its consolidated sales for 2024 to amount to 1.86 million tons of copper and 2.0 million ounces of gold.

“We enter 2024 with a focus on strong execution of our operating and investment plans, optimism on market fundamentals and a relentless drive to enhance the value of our strong portfolio of assets...During 2024, we will continue to prioritize productivity gains, operating and capital cost discipline and the advancement of organic opportunities for future long-term growth,” said Richard C. Adkerson, Chairman and CEO.

Freeport develops deposits of copper, gold and molybdenum in North and South Americas, and in Indonesia.

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