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

De Beers’ GemFair ropes in more than 160 Sierra Leone artisanal miners

De Beers inaugurated its GemFair pilot programme in Sierra Leone’s Kono District with 14-member mine sites in 2018 to create a secure route to market for ethically sourced artisanal and small-scale diamonds. GemFair programme manager Ruby Stocklin-Weinberg...

16 august 2021

South Africa's key gold industry faces moment of truth

04 january 2014

The end of gold’s 12-year bull run has hit South Africa, home to one of the world’s richest gold reserves, especially hard, reported.
Lower gold prices, which have dropped more than 25% this year, ageing mines, labour strikes and higher operating costs have together weighed down on the sector in the world's sixth largest producer of the metal.
Early this year the industry shed over 14,400 jobs, bringing the total remaining jobs to 126,587 in September, according to Statistics South Africa.
Last year the country's gold output fell to merely 167 tonnes, the lowest since 1905.
A case in point is the 70-year old Blyvooruitzicht gold mine, located about 80 km southwest of Johannesburg, which was shut down in August. According to Bloomberg, the closure has seriously impacted local businesses.
Workers, who thronged the local Blyvoor Spar grocery store for 32 years, now shop for only the essentials.
"You can see the despair on their faces," grocery store owner Desiree Barreiro was quoted as saying.
South Africa’s gold production has plummeted 83% in the last ten years and the short-term outlook doesn’t look any healthier.
Andy Jackson, an analyst at Sprott Global Resource Investments, said in October that he expected most existing gold mines – and some platinum ones – to close as a product of a steady decline over the coming years.
South Africa's gold mining industry ranked number one in the world for a century before losing the top spot to China in 2007.
Today, South Africa is ranked sixth in the world, dropping below Peru's output and at 178 tonnes only some 6% of global production.