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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...

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Gaetano Cavalieri: CIBJO leading the jewelry industry on critical issues

One of the gem and jewellery industry’s most well-known and respected personalities, Dr. Gaetano Cavalieri, has been the president of the World Jewellery Confederation (CIBJO), for the past 23 years. CIBJO is the oldest international organisation...

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Zimplats mulls voluntary retrenchments

20 march 2024

The Zimbabwean division of Impala Platinum Holdings is implementing voluntary redundancy packages for its employees as a cost-cutting measure in response to the depressed metal prices.

Zimplats chief executive Alex Mhembere said in a staff circular dated March 18 that the voluntary retrenchment exercise for all employees wishing to be considered may “mitigate the need for a compulsory retrenchment.”

“We have been working with all teams across the board in implementing various cost containment and cash preservation programmes,” said Mhembere.

“I am confident that as a team we will successfully navigate through the headwinds.”

Zimplats, the largest producer of platinum group metal (PGMs) in Zimbabwe, is offering its employees a minimum of three months' salary.

Weak PGMs prices are projected to persist for the next 12 to 18 months.

Several thousand positions have already been eliminated in neighbouring South Africa, which is home to about 70% of the world's platinum output.

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