Vladislav Zhdanov: Questions of efficiency and investment potential of diamond mining versus diamond growing pique keen interest

Vladislav Zhdanov is Professor at the National Research University Higher School of Economics (HSE). He told Rough&Polished about new researches into the effectiveness of diamond production methods.

02 july 2024

Why it's expensive to cut and polish diamonds in Africa? ADMA president António Oliveira has the answer

The African Diamond Manufacturers Association (ADMA) president António Oliveira told Rough&Polished’s Mathew Nyaungwa in an exclusive interview that the lack of a robust infrastructure in Africa fails to accelerate and encourage manufacturing...

24 june 2024

Edahn Golan: IPO feasible but not Anglo’s preferred way to sell De Beers

Edahn Golan, owner of the eponymous Edahn Golan Diamond Research and Data, told Rough&Polished's Mathew Nyaungwa in an exclusive interview that while an IPO of De Beers is “feasible,"  he does not think this is a route Anglo American...

17 june 2024

GemsCouture- avant-garde by Victor Moiseikin

Jewelry items and precious souvenirs of the MOISEIKIN jewelry brand are in the museums and private collections of world celebrities, representatives of the political and cultural elite - from Xi Jinping to the British Windsors, from Angela Merkel to...

05 june 2024

Oksana Senatorova: The trend is a decrease in regional jewelry retailers and an increase in large federal store chains

Oksana Senatorova has long been known in the Russian jewelry community as an expert in the jewelry market. During her visit to the Junwex New Russian Style exhibition held in May in St. Petersburg, Oksana Senatorova answered the Rough&Polished correspondent’s...

28 may 2024

Vedanta obtains $250m to defray Zambian copper mine debts

09 july 2024

Vedanta Resources has secured the necessary financing to commence payments to creditors of its Konkola Copper Mines (KCM) in Zambia.

The company is now in the process of reviving operations following its reacquisition of the properties.

The mining company, which is owned by Indian billionaire Anil Agarwal, will have around $250 million available to settle small debtors in Zambia this week, according to Reuters citing a statement.

Vedanta is required to settle debts owed by KCM as part of a settlement with Zambian authorities.

The company regained control of KCM late last year after a five-year struggle to reclaim the copper mines and smelter that were confiscated by the former Zambian president Edgar Lungu's administration.

The administration had accused the company of neglecting to invest in the expansion of copper production.

Vedanta will still be required to raise an extra $1 billion to resuscitate the mining operations and invest in the Konkola Deep Mining Project, which is home to one of the world's richest copper resources.

The company holds 80% of KCM and has indicated that it may sell a 30% stake to obtain finance to increase copper production.

KCM is 20% owned by the Zambian government through the state-owned company ZCCM-IH.

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