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

Xtract Resources sees copper potential at new Zambia licences

12 february 2024

Xtract Resources says its two Zambian exploration licences have the potential for high-grade Kamoa-style mineralisation at depth and lower-grade Kolwezi-type mineralisation near the surface.

The licences have been under development in a joint venture (JV) with Cooperlemon Consultancy since August of last year.

Both permits are in the Western Foreland geological district, which hosts Ivanhoe Mines' Kamoa and Kakula deposits in DRC and the Central Fold and Thrust Belt in northwest Zambia. 

Xtract obtained a large history database from Anglo American to speed up and lower the cost of exploration. 

Xtract chairperson Colin Bird said that the company is actively exploring the licences to uncover commercially viable amounts of copper in a highly competitive location.

“Northwest Zambia is a proven host for large-scale copper deposits, and the geology of our JV ground is highly prospective. Zambia itself has ambitious targets for copper production to underpin its economic progress, and Xtract intends to become a part of that story,” he said.

The JV with Cooperlemon allows Xtract to obtain a 65% interest in the JV by investing a minimum of $2 million in exploratory expenses over two years.

Phase 2 will commence if the Phase 1 exploration results are successful and confirm the continuity of mineralisation at grades indicating the possibility for future development of a mineral resource containing over 500,000 t of copper.

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