Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

25 october 2021

Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

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...

27 september 2021

The Kyuchus gold field will be developed by White Gold

14 october 2021
White Gold won the auction for a license to develop the largest gold deposit in Russia’s Republic of Sakha (Yakutia), which is Kyuchus. This was announced by Seligdar (MOEX: SELG, SELGP), one of the leading gold producers in Russia.
White Gold is a joint venture between RT-Business Development wholly owned by Rostec and Gold Assets Management, a subsidiary of the Seligdar polymetallic holding. The cost of the license at the end of the auction amounted to 7.735 billion rubles.
The Kyuchus goldfield is one of the largest in Russia and the second largest in the Republic of Sakha (Yakutia). It is located beyond the Arctic Circle in two regions of the republic: Ust-Yanskiy and Verkhoyanskiy. The area of the plot is 8.35 sq. km. Gold reserves for open-pit mining attributed to the C1 category under the Russian classification system are 70.919 tonnes, C2 - 38.416 tonnes; gold reserves for underground mining attributed to the C2 category reach 65.927 tonnes, C2 unbooked reserves - 2,647 tons, Р1-category resources - 41,949 tons, Р2 - 211,081 tons. C2 silver reserves for open-pit mining - 16.6 tons, C2 reserves for underground mining - 9.9 tons, C2 unbooked reserves - 0.4 tons.
In the area of the deposit, there is no energy infrastructure, which is necessary for the implementation of such large mining projects, so the company acting within the framework of the auction committed itself to start using at least 35 MW of nuclear electricity no later than June 2028, which should be supplied by a low-power nuclear plant in the republic. The second prerequisite that was included in the auction is that the level of production must be at least 10 tons of gold per year from the date of reaching the design capacity.
“The Kyuchus deposit is a rather complex technical object, but very significant for Yakutia. I am confident that with our partners we will be able to find a technical solution, build the enterprise that will become one of Yakutia’s brands,” said Konstantin Beirit, President and Member of the Board of Directors of Seligdar.

Vladimir Malakhov, Rough&Polished