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

AngloGold Ashanti generates $1.02 billion in gross profit, meets production target

27 february 2024

AngloGold Ashanti generated a gross profit of $1.02 billion in the 2023 fiscal year, a decrease from the previous year's figure of $1.13 billion.

Annual sustaining costs for the company amounted to $1,538 per ounce, surpassing the guidance level due to increased sustaining capital expenditure.

As of December 31, 2023, AngloGold recorded an adjusted net debt of $1.2 billion, up from $878 million in December 2022.

This increase can be primarily attributed to diminished cash generation from operating activities and exceptional expenses related to the company's corporate restructuring.

The miner achieved its production target of 2.6 million ounces of gold in 2023.

The production levels of its Tropicana mine in Australia, Geita, Iduapriem, and Kibali mines in Africa, all increased during the latter half of the year.

The company has projected a production range of 2.59 million to 2.79 million ounces for the year 2024. By 2025, that figure is expected to rise to between 2.65 million and 2.85 million ounces.

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