“In the jewellery art, we express our feelings, emotions and share them with others”

Over 30 years, the MOISEIKIN company based in the Ural area has become a famous jewellery brand. The jewellery and souvenirs of this jewellery house made of precious and semi- precious stones and metals are displayed at museums and in private collections...

20 march 2023

Automatic double upgrade of diamonds is not only a questionable practice but could be systemic fraud – Meeus

HRD Antwerp is under investigation by Belgian authorities following allegations that for every Gemological Institute of America (GIA) stone, which entered their lab for certification an automatic upgrade would be given two colours up and one...

13 march 2023

"At House of Ashish Vijay, diamonds and coloured gemstones will only ever mean stones that carry a storied legacy"

Ashish Vijay, a Dubai-based investor, philanthropist, entrepreneur and businessman with decades of experience in the precious gemstone and luxury jewellery industry, finance and investments sectors, set up his business in Dubai in the year 2013. As the...

06 march 2023

KP should remodel its enforcement, accountability mechanisms if it wants to remain relevant - Fula-Ngenge

The African Diamond Council (ADC) is calling on the Kimberley Process (KP) to remodel its enforcement and accountability mechanisms if it wants to remain relevant and effective. ADC chairperson M’zée Fula-Ngenge told Rough&Polished’s...

27 february 2023

Why ODC is taking longer to sell the polished Okavango blue diamond?

Okavango Diamond Company (ODC), a rough diamond marketing company that is wholly owned by the Botswana government, took an extraordinary decision to polish the 20.46-carat Okavango blue diamond recovered at Debswana’s Orapa Mine in 2018. It was...

20 february 2023

Gold Fields, AngloGold Ashanti mull Ghana JV to create Africa’s largest gold mine

17 march 2023
Gold Fields and AngloGold Ashanti have agreed on the key terms of a proposed joint venture (JV) in Ghana between their neighbouring Tarkwa and Iduapriem mines. 
The Tarkwa Mine is held by Gold Fields Ghana, in which Gold Fields currently owns a 90% share and the Government of Ghana holds 10%. 
The Iduapriem Mine is currently 100% owned by AngloGold Ashanti. 
The proposed JV  would create the largest gold mine in Africa and one of the largest in the world. 
It will also be a high-quality operation, supported by a considerable mineral endowment and an initial life spanning almost two decades. 
The parties have commenced with preliminary, high-level and constructive engagements with senior government officials in Ghana and will continue engaging with the government of Ghana, relevant regulators and other key stakeholders, to implement the proposed JV as soon as practically possible.
It is intended that the proposed JV would be an incorporated one, constituted within Gold Fields Ghana and operated by Gold Fields. 
AngloGold Ashanti will contribute its 100% interest in Iduapriem to Gold Fields Ghana in return for a shareholding in that company.
The parties do not anticipate that any material or additional capital injection will be required by either company to establish the proposed JV.
Excluding the interest to be held by the government of Ghana, Gold Fields will have an interest of 66.7% or two-thirds, and AngloGold Ashanti will have an interest of 33.3%, or one-third, in the proposed JV.

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