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De Beers recorded an underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss of $511 million in 2025, swinging from a $25 million loss in the prior year, as challenging trading conditions and stock rebalancing...

02 march 2026

Svetlana Stepanova: A jeweller must consider many factors when creating a piece

The Russian jewelry brand Cappulo was founded in Moscow in 2010 by jewelry designer Svetlana Stepanova. It specializes in premium handcrafted jewelry pieces featuring 18K gold and rhodium-plated silver. Svetlana is a winner of the Russian Diamond Line...

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African Diamond Council threatens alternative certification system

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26 january 2026

Paul Zimnisky warns diamond industry is "killing the proverbial golden goose," urges radical split from LGDs

Diamond industry analyst Paul Zimnisky delivered a sobering assessment of the sector's 2025 performance, placing blame squarely on the trade's own practices. He argued that by marketing natural and lab-grown diamonds (LGDs) as interchangeable...

29 december 2025

Goldplat reports challenging year with strategic shifts amid lower profits

Goldplat PLC's annual report for the year ended 30 June 2025 presents a year of operational and financial challenge, marked by a significant reduction in profitability. The company reported a profit after tax attributable to owners of GBP1,01 million...

22 december 2025

Rio Tinto Approves Zulti South project, securing Richards Bay Minerals' future to 2050

02 march 2026

Rio Tinto has given the green light to the Zulti South project at Richards Bay Minerals (RBM) in South Africa, lifting a suspension that had been in place since January 2020. The approximately R8.5 billion ($473 million) investment is designed to extend the mine's life to 2050 and ensure operational continuity.

RBM currently operates within the Zulti North lease area, which includes a mineral separation plant and smelting facility. As the orebody at Zulti North declines, Zulti South is crucial for maintaining a stable supply of zircon, rutile, and ilmenite, and supporting TiO₂ sales throughout the mine's life.

China Harbour Engineering Company (CHEC) has been appointed as the EPC contractor for the construction of Zulti South, having been selected based on its proven performance and strong track record. CHEC's strategic partnership with Rio Tinto on the Simandou project in Guinea demonstrated successful delivery of complex EPC scopes, compliance with HSEC standards, rapid mobilisation, integration of global expertise with local execution, and a firm commitment to localisation, community engagement, and supplier development.

Rio Tinto Iron & Titanium Africa Operations and RBM managing director Werner Duvenhage said the lifting of the suspension secures the future of RBM.

He emphasised that the project is not about expansion but represents a commitment to sustaining jobs and continuing to make a meaningful contribution to the province, the country, and host communities.

He said that improved security conditions and strengthened community partnerships, supported by the government, Amakhosi, and host communities, were vital in reaching this point.

China Harbour Engineering Company vice president Wu Di expressed honour at being chosen as Rio Tinto's strategic execution partner, citing a relationship founded on trust, performance, and shared values.

He committed to delivering a project that strengthens RBM's future and benefits local communities.

Construction is anticipated to commence in the first quarter of 2026 and will take 30 months to complete, with initial commercial production expected in the fourth quarter of 2028.

The first phase will support RBM's supply of zircon and ilmenite, while a second phase will follow as part of the long-term development strategy.

Mathew Nyaungwa, Editor-In-Chief, Rough & Polished