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.


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

Gemfields realises $242 mln in emerald, ruby revenue in 2023

30 january 2024

Gemfields, which is the operator and 75% owner of both the Kagem emerald mine in Zambia and the Montepuez Ruby Mine (MRM) in Mozambique, raked in $242 million in revenue during the period ending December 2023.

The revenue was its second highest year in its history despite the withdrawal of November 2023’s auction of higher quality emeralds.

Of this revenue, Kagem emerald auctions contributed $90.4 million compared to $149.4 million in 2022, while MRM ruby auctions brought in $151.4 million compared to $166.7 million, a year earlier.


Source: Gemfields

Gemfields said Kagem experienced a general improvement in both the quality and quantity of premium emeralds recovered in recent months.

It passed the milestone of $2 billion in cumulative emerald and ruby auction sales since its first auction in 2009, with more than $400 million in taxes being paid to the governments of Mozambique and Zambia

A commercial-quality emerald auction is scheduled for the first quarter of 2024, followed by a higher-quality emerald auction and a mixed-quality ruby auction in the second quarter of the year.

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