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

Polymetal sells its Russian assets to Mangazeya Plus for $3.69 billion

21 february 2024

The Polymetal holding entered into an agreement to sell its Russian business, valued at $3.69 billion including debt, to the Mangazeya Plus company. The deal will be closed by the end of March 2024, the company said in a statement.

The transaction amount consists of a total cash consideration of $1.479 billion, which must be paid from JSC Polymetal (Russia) to Polymetal Int. All payments will be made in Russian rubles through financial organizations that are not targeted by sanctions.

After the announcement of the deal, Polymetal shares fell for two days in a row.

Polymetal's plan to sell Russian assets emerged after the company was included in the US sanctions list. In order to eliminate risks associated with restrictions, the holding company re-registered from Jersey Island to Kazakhstan.

According to the group’s CEO Vitaly Nesis, Polymetal decided not to consider Russian companies that are more or less under sanctions from Western countries as buyers for its assets.

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