Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Yesterday

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

Tharisa poised to meet PGMs production target

16 april 2021
Dual-listed Tharisa, which has operations in South Africa, is set to meet its annual platinum group metals (PGMs) production target due to a resilient production performance feeding into a strong pricing environment.
The miner's guidance for the full year is between 155 000 oz and 165 000 oz of PGMs. 
It said in its production report for the period ended 31 March 2021 that the PGMs output leapt by 11.5% year-on-year on a 6E (ruthenium, rhodium, palladium, osmium, iridium and platinum) basis to 35 800 oz, compared with the 32 100 oz produced, a year earlier.
PGMs production was, however, 8.9% weaker on a quarter-on-quarter basis due to a secondary mill motor failure.
Meanwhile, Tharisa said it had a cash balance of $73.1-million at the end of the quarter and debt of $41.7-million, resulting in positive net cash of $31.4-million.
"With the much higher commodity prices, Tharisa was able to convert production into cashflow, shown in our increased net cash balance, this while we are entering the major capital phase for the Vulcan plant which remains on track for construction to be completed this financial year," said company chief executive Phoevos Pouroulis.
"Despite the combined headwinds of extreme weather conditions as well as the ongoing impact of COVID-19 restrictions during the quarter, the continued optimisation of our operations resulted in consistent mining, underpinning our strategy of generating sustainable production from our long-life assets."

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