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

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