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

LBMA urged to exclude 'dirty' gold from its trading system

20 march 2024

Human rights activists have urged the London Bullion Market Association (LBMA) to do more to exclude gold from unsustainable sources from its supply chain.

According to a letter sent to LBMA and reviewed by Reuters, some gold refineries that are included in the association's Good Delivery list of sustainable suppliers, still source gold from “questionable suppliers and mines” and are not tackling “serious human rights violations and environmental degradation." The letter was sent by eight non-governmental organizations that analyze the mining industry.

The NGOs said that there had been “some slight improvements” in the LBMA’s systems since 2021, but that “many” refiners on list have, in recent years, sourced gold from suppliers linked to money laundering, land and water pollution, or human rights abuses.

One of the examples cited by the letter was the UAE which does not produce gold but is an origin country of nearly 150 metric tons of gold sold to Good Delivery refiners in 2021.

“The origin of this gold is not the UAE, it was merely transited through this country,” the letter said, calling for refineries to report the origins of gold publicly.

The LBMA said it plans to discuss various proposals related to the NGO's concerns at a summit on the responsible sourcing of minerals in London later this week.

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