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

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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

Richland denies owing Tanzania $1.73 mln in royalties

16 october 2012

Richland Resources has disputed claims made by the Tanzanian government that it owes the east African country $1.73 million in royalties.
The country’s Ministry of Energy and Minerals had said that the unpaid royalties dated back to the period between 2004 and 2008.
It said that it would not provide any further support to the mining activities of Richland’s wholly-owned subsidiary TanzaniteOne Mining until the retrospective royalties have been paid.
This move barred the miner from exporting gemstones produced or processed in Tanzania.
However, Richland said in a statement that the royalties related to revenues generated through subsidiaries outside and independent of Tanzania, including sales of finished jewellery from its South African and Mauritian registered subsidiaries.
“The company is urgently seeking clarification from the Ministry and the Minister of Energy and Minerals as to the enforceability of this prohibition on exports,” it said.
“The company is also investigating measures it can take to continue sales and exports via its other Tanzanian subsidiaries although it is not certain if this will be possible and any alternative arrangements may be at significantly reduced margins.”
Richland said that it would request a third party review of its legal case and the evidence before paying any claim for unpaid royalties.
“The company believes that it has a strong legal case and will accept the ruling of a legal tribunal where all the evidence is reviewed,” it said.
Richland’s shares were suspended last Monday morning and would remain so until it resolves the dispute.

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