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

Panama's authorities to fight First Quantum in court case over mine closure - minister

28 february 2024

Panama's authorities are determined to defend the country's interests in a legal dispute with Canadian miner First Quantum, according to deputy finance minister.

In December, the government of Panama has shut down the Cobre mine after protests calling for more environmental protections erupted across the country. Following the decision, First Quantum had initiated international arbitration procedures seeking $20 billion in restitution charges against Panama.

"As we have done before, [we] will defend the interests of the Republic of Panama," said deputy minister Jorge Almengor as cited by Reuters. He added that, although the court of Panama's decision on the mining contract was independent, the state would need to show that the state respects foreign investment.

The Cobre mine is a flagship copper project operated by First Quantum. Its closure has led to financial woes of the company, exacerbated by falling commodity prices. Since the order to close the operation, First Quantum has lost over half of its market value.

Meanwhile, the Cobre mine had represented about 5% of Panama's gross domestic product and accounted for about 1.5% of the world’s copper production.

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