Nosiphiwo Mzamo: South Africa’s State Diamond Trader to buy diamonds from other African countries

South Africa’s State Diamond Trader (SDT) is set to buy diamonds from other African countries starting with Botswana. SDT’s chief executive Nosiphiwo Mzamo told Rough & Polished’s Mathew Nyaungwa at the country’s inaugural diamond show, which...

10 february 2025

Edahn Golan: Halo effect from lab-grown diamonds driving high demand for large, 2-carat natural stones in the U.S.

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough & Polished's Mathew Nyaungwa in an exclusive interview that their research found a halo effect from lab-grown diamonds. He said the trend among lab-grown diamond...

27 january 2025

Paul Zimnisky: We will see a modest recovery in natural diamond demand and prices in 2025

According to Paul Zimnisky, an independent diamond and jewellery analyst and consultant based in the New York metro area, the natural diamond industry will see a modest recovery in demand and prices this year. Zimnisky said a moderate recovery would...

13 january 2025

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...

16 december 2024

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...

09 december 2024

AngloGold's core earnings decline

21 march 2024

AngloGold Ashanti’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) declined to $1.42 billion for the year ending December 31, 2023, in comparison to $1.79 billion in the previous year.

The company reported a significant loss of $46 million, or $0.11 per share, for the year, in contrast to the positive earnings of $489 million, or $1.16 per share, in 2022.

AngloGold said that the loss was due to a decrease in gold sales, increased expenses related to corporate restructuring, additional provisions for environmental concerns regarding tailings storage facilities, higher costs for maintaining and closing operations, as well as increased operating and exploration expenses.

It also experienced losses from foreign exchange and higher taxes.

The adjusted net debt increased to $1.27 billion compared to $878 million at the end of 2022.

The rise in debt can be attributed to a decrease in cash generation from operating activities, a decline in dividends received from the Kibali joint venture in the Democratic Republic of Congo, and the additional expenses incurred during the corporate restructuring.

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