De Beers shines light on budding jewellery designers

Diamond giant De Beers will this year conduct its bi-annual Shining Light Awards jewellery design competition. De Beers beneficiation manager Kagiso Fredericks told Rough & Polished's Mathew Nyaungwa in an exclusive interview they set aside 4.5 carats...

22 july 2024

DiaMondaine Diamantaires Club mulls diamond safari tours in southern Africa

DiaMondaine Diamantaires Club (DDC) is set to organise diamond safari tours in southern Africa, home to major diamond-producing countries. DDC founder Agnes Abdulahu told Rough&Polished’s Mathew Nyaungwa that the launch of the first diamond safari...

15 july 2024

Vladislav Zhdanov: Questions of efficiency and investment potential of diamond mining versus diamond growing pique keen interest

Vladislav Zhdanov is Professor at the National Research University Higher School of Economics (HSE). He told Rough&Polished about new researches into the effectiveness of diamond production methods.

02 july 2024

Why it's expensive to cut and polish diamonds in Africa? ADMA president António Oliveira has the answer

The African Diamond Manufacturers Association (ADMA) president António Oliveira told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that the lack of a robust infrastructure in Africa fails to accelerate and encourage manufacturing...

24 june 2024

Edahn Golan: IPO feasible but not Anglo’s preferred way to sell De Beers

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough&Polished's Mathew Nyaungwa in an exclusive interview that while an IPO of De Beers is “feasible,"  he does not think this is a route Anglo American...

17 june 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