Responsible business practices ‘no longer optional’, says WDC President Feriel Zerouki

The president of the World Diamond Council takes time out of her busy schedule to tell Rough&Polished readers about the critical work of the WDC. Zerouki, the first female present of the body, which includes all the important industry organizations among...

14 october 2024

James Campbell: Botswana Diamonds optimistic as it enters uncharted territory of using AI for mineral exploration

London-listed Botswana Diamonds has expressed optimism about the company’s use of artificial intelligence (AI) to scan the exploration database in Botswana to look for new mineralised deposits. Company managing director James Campbell told Rough...

07 october 2024

Artur Salyakayev: For me, happiness is freedom to make my ideas happen and create valuable products

Artur Salyakayev is an art entrepreneur, founder of the International Jewelry Academy (IJA) and the INCRUA jewelry company. He has initiated and developed successful projects in jewelry industry and services sector. He is also a leading expert...

30 september 2024

Paul Zimnisky: China key for sustained recovery in demand for natural diamonds, prices

The curtailing of upstream and midstream natural diamond production in the past months is starting to have an effect on prices, according to the New-York-based independent diamond and jewellery analyst and consultant, Paul Zimnisky. He told Rough & Polished’s...

23 september 2024

Vladimir Pilyushin: The jewelry market is not stand-alone and moves by the same laws as other markets

Vladimir Pilyushin is editor-in-chief of Russian Jeweler, a leading magazine about the jewelry industry in Russia. He told Rough&Polished about his view on the evolution of the jewelry industry in Russia and touched upon some of its problems.

16 september 2024

Ramelius gold miner reaches an annual production record of 293 thousand ounces

10 july 2024

Australian gold mining company Ramelius Resources Limited has achieved an annual production record of 293,033 ounces. For the 2023-2024 fiscal year, which ended June 30, the company reported that gold production "is at the upper end of upgraded guidance of 285,000 - 295,000 ounces and well in excess of the original guidance of 250,000 - 275,000 ounces published in July 2023".

Given the strong performance, the company expects its full year all-in sustaining costs to be at the lower end of the updated range of A$1,550 ($1,045) per ounce to A$1,650 ($1,112) per ounce.

In the fourth quarter of 2023, Ramelius generated underlying free cash flow of A$137.3 million ($116.8 million) by investing A$87.7 million ($59.13 million) in Spartan Resources and paying A$10.1 million ($6.8 million) for the Musgrave Minerals acquisition stamp duty. Thus, by the beginning of the new financial year, “the company came out with cash and gold of A$446.6 million ($299.7 million)”, having increased this figure by A$39.5 million ($26.6 million) over the last quarter.

At the end of June, Ramelius made a second purchase of shares in Spartan Resources worth A$92 million ($62 million) and now owns a 17.9% stake in its rival, which is developing the Dalgaranga gold deposit in Western Australia. At the same time, the Australian gold producer, which has market capitalization of 2.2 billion Australian dollars ($1.5 billion), ruled out any possibility of an immediate takeover of Spartan.

Ramelius owns and operates two gold production and processing hubs at Mt Magnet and Edna May. It also mines and hauls ore from satellite operations at Penny, Marda & Symes Gold mines, and is currently developing its Rebecca/Roe and Cue Gold projects.

Hélène Tarin, Editor-in-Chief of the Asian Bureau, Rough&Polished