Rough prices ‘out of kilter’ as diamond sector staggers

The Russian budget for 2025-2027 has set aside $1.55 billion for the purchase of precious metals and gems.

The company changed its board of directors and plans to spin out non-core assets La Verde, Capricho, and Paco Orco into a new company.

Most mining firms rely on their own diesel supplies to extract iron ore, diamonds, rutile and bauxite in the resource-rich country.

The miner may cut its labor costs by 10%, which could involve layoffs among its 35,000 staff.