Dozens of logistics firms and merchants that are small players in the gold sector have taken over the Russian bullion trade.

The group said Board Chair Lucio Genovese will act as executive chair on an interim basis.

The 11.16 carats fancy vivid blue diamond will go under Sotheby’s hammer on May 12, as part of the Geneva Magnificent Jewels auction.

The La Romanera deposit is part of the company’s 100%-owned Iberian Belt West project in southern Spain.

“In the longer term, the energy transition could significantly lift the demand for some metals, notably lithium, copper, and nickel,” the bank said.

The refinery would be one of only a handful of its kind outside China if it starts as planned in 2026.  

Increased geopolitical risks have impacted the company's financial results and created new challenges for its operational and sales activities, the company said.

Adjusted net earnings were $0.11 per share, a significant turnaround from a net loss of the same amount per share last year.