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

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