Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

16 april 2024

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

Hudbay delivers strong results in 2023

27 february 2024

Canada-based miner Hudbay Minerals has published its annual results for 2023 and reported that its production and revenue were significantly better than the previous year.

The company achieved 2023 consolidated production guidance for all metals. Its copper production was up 26% year-on-year to 131,691 tonnes, gold output jumped 41% to 310,429 ounces, while silver production increased by 13% to 3.6 million ounces. The increase is attributed to the acquisition of Copper Mountain mine in British Columbia as well as higher throughput and recoveries in Peru and Manitoba and higher overall copper, gold and silver grades.

In 2023, Hudbay achieved annual revenue of $1.69, billion, from $1.46 billion a year earlier. The company delivered a significant increase in operating cash flow before change in non-cash working capital to $246.5-million in the fourth quarter, a 35% increase compared with $182-million in the third quarter.

"We had a strong end to the year with increased copper production, record gold production and record financial performance in the fourth quarter, resulting in the successful achievement of our annual guidance metrics,” said Peter Kukielski, Hudbay's president and CEO.

“2023 was a year of execution and delivery…We continued to demonstrate financial discipline in 2023 through reduced discretionary spending to drive free cash flow generation and debt reduction. These 2023 achievements are a testament to our outstanding team, which continues to deliver the plan while always operating safely and efficiently.”

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