Tshepo Molusi: South Africa establishes dedicated diamond retail shop in China

T3 Diamonds founder Tshepo Molusi told Rough & Polished’s Mathew Nyaungwa at the inaugural South Africa Diamond Show in Cape Town that the shop opened an opportunity for diamond manufacturers under the incubation to export their products to China. He...

Yesterday

Nosiphiwo Mzamo: South Africa’s State Diamond Trader to buy diamonds from other African countries

South Africa’s State Diamond Trader (SDT) is set to buy diamonds from other African countries starting with Botswana. SDT’s chief executive Nosiphiwo Mzamo told Rough & Polished’s Mathew Nyaungwa at the country’s inaugural diamond show, which...

10 february 2025

Edahn Golan: Halo effect from lab-grown diamonds driving high demand for large, 2-carat natural stones in the U.S.

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough & Polished's Mathew Nyaungwa in an exclusive interview that their research found a halo effect from lab-grown diamonds. He said the trend among lab-grown diamond...

27 january 2025

Paul Zimnisky: We will see a modest recovery in natural diamond demand and prices in 2025

According to Paul Zimnisky, an independent diamond and jewellery analyst and consultant based in the New York metro area, the natural diamond industry will see a modest recovery in demand and prices this year. Zimnisky said a moderate recovery would...

13 january 2025

African Diamond Council makes traceability its top priority, wants KP to embrace Authentia.io

The African Diamond Council (ADC) has made traceability its foremost priority and has been contributing to a traceability solution called Authentia.io for the last three and a half years, which is now ready to globally satisfy the traceability...

16 december 2024

Russian division of Polymetal increased production by 4% in 2023

31 january 2024

JSC Polymetal, a Russian subsidiary of the Kazakhstan-based international group Polymetal Int, increased production by 4% to 38.2 tons of gold equivalent in 2023.

Gold production of JSC Polymetal's enterprises increased by 10% last year to 31.3 tons year-on-year. Meanwhile, silver production decreased by 15% compared to 2022, and amounted to 550 tons. Production volume was in line with company's forecasts.

JSC Polymetal's revenue for the year increased by 14% to $2.13 billion amid rising prices and production volumes of gold.

Meanwhile, JSC Polymetal's parent company plans to close the deal to sell assets in Russia by the end of the first quarter of 2024, the Prime news agency reports with a reference to the group’s CEO Vitaly Nesis.

“The plan is not set in stone, but it is realistic and we are making weekly progress on it,” he said. The company is negotiating with only one buyer from Russia, which is why the deadlines are so specific, Nesis added.

The purpose of the sale of all Russian assets is an attempt by Polymetal Int to avoid being sanctioned by Western countries.

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