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

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Alcan is strategic miscalculation of Rio Tinto - FT

07 october 2009

Some deals cry out for the airbrush. A visitor to Time Warner’s website has to look hard for traces of AOL, the internet company it absorbed eight years ago with generally disastrous consequences. A spin-off later this year may make the separation complete, Financial Times reported.
Similarly, Rio Tinto seems to be doing its damndest to cover up Alcan – its own ill-timed, over-priced venture into new territory, Financial Times reported. Paul Skinner, former non-executive chairman, seen as the 2007 deal’s champion, has gone. The debt amassed to pay for it is going: Rio’s is one of the world’s top 10 best-performing credit default swaps this year, narrowing almost 88 per cent. Now the governance structure that facilitated it is history, the group’s investment committee – responsible for reviewing proposals for big capital decisions – will no longer be run by the chairman.
The previous set-up served Rio fine for years: with the proper checks and balances, there is nothing inherently wrong with mechanisms to ensure that investments are made with long-term strategic objectives in mind. But, as Jan du Plessis, the new chairman, seems to recognise, those checks were missing in the Skinner era: a dominant personality surrounded by too many supine non-executive directors. 
Rio’s board should be refreshed by the next annual meeting in April. What Mr du Plessis can’t change, however, is Alcan’s operational legacy. Aluminium has rallied, like almost every other commodity. But that rally has prompted the restarting of idled smelters, exacerbating over-supply. 
This year should be the metal’s third consecutive year of excess capacity; HSBC does not foresee a deficit for another four years. The lossmaking division, over a quarter of gross revenues, is one reason Rio still trades at a discount to peers on a forward sales and cash flow basis. Alcan looks like a blemish for years to come.