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

Ivanhoe completes earn-in to 60% of the Samapleu-Grata nickel-copper project

28 march 2024

Ivanhoe Electric has successfully completed its earn-in agreement to acquire 60% of the Samapleu-Grata nickel and copper project in Côte d'Ivoire.

The Samapleu-Grata nickel-copper project is now a 60:40 joint venture between Ivanhoe Electric and Sama, which recently released a new preliminary economic assessment (PEA) for the project.

In addition to a 60% interest at the project level, Ivanhoe Electric also owns 22.7% of the common shares of Sama.

The 2024 PEA reveals that the project has the potential for a conventional open-pit mining operation.

It estimates an average yearly production of 38,627 tonnes of a 26% copper concentrate and 55,119 tonnes of a 13% nickel concentrate. These figures are based on a process plant with a capacity of 5.475 million tonnes per year.

The project is expected to yield an annual production of 7,165 tonnes of nickel metal and 10,043 tonnes of copper metal in concentrate.

The PEA also highlights strong financial potential, with a net present value of $275 million after taxes and an internal rate of return of 22.3%.

The project is expected to require a capital investment of $338 million, with an after-tax payback period of 3.8 years.

These projections are derived from a long-term nickel price of $8.83/lb and a copper price of $3.99/lb.

“We are particularly encouraged by the significant improvement in both the quality and quantity of potential future copper concentrate production at the project compared to earlier studies,” Ivanhoe president and chief executive Taylor Melvin said.

“The results announced by our joint venture partner, Sama, are a product of the hard work by our dedicated joint team. We look forward to working together with Sama on the next steps for our high-quality nickel-copper project.”

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