News
Kyrgyzstan begun construction of a $556 million gold mining complex
The project is being implemented by Chaarat ZAAV, a joint venture between Canada’s Silvercorp Metals (70 %) and the state owned Kyrgyzaltyn (30 %). According to Silvercorp Metals’ calculations, once it reaches its design capacity, the enterprise will...
Today
European Commission names Eldorado’s copper-gold mine in Greece strategic
The European Commission (EC) has designated the Skouries copper-gold mine in northern Greece, operated by Eldorado Gold Corporation, as a strategic project under the Critical Raw Materials Act (CRMA).
Today
Copper 360 intersects new copper sulphide mineralisation at Rietberg
Copper 360 has intersected copper sulphide mineralisation at its South African Rietberg underground mine about 16 metres before reaching the planned 300 Level (300L) elevation, earlier than expected from the company's geological model.
Today
Namdeb seeks State recapitalisation as diamond prices erode revenue
Namdeb Holdings, comprising Namdeb and Debmarine Namibia, has approached the Namibian government for financial assistance as falling global diamond prices cut into revenue, The Namibian reports.
Yesterday
Nornickel and Reksoft Implement "smart vision" to protect production
Nornickel has deployed a neural network-based video analytics system across its facilities, designed to prevent equipment breakdowns and production stoppages, the company’s press service reported.
Yesterday
Richemont, Hermès Slump as Gloom Deepens in Luxury Industry
(Business of Fashion) - Richemont, the maker of Cartier jewellery, said first-half operating profit will probably decline about 45 percent, while Hermès International SCA abandoned its annual sales growth target, adding to the gloom spreading across the luxury-goods industry. Revenue slid 13 percent excluding currency shifts in the five months through August, Geneva-based Richemont said, missing the median analyst estimate for an 11 percent decline. Hermès said it’s no longer forecasting annual revenue growth of about 8 percent excluding currency shifts, and instead has “an ambitious goal” for growth. Hermès giving up on the forecast is a “negative read-across for the whole soft luxury industry, fueling concerns about the sector’s long-term growth potential,” Zuzanna Pusz, an analyst at Berenberg, said in a note. Hermès shares fell as much as 5.7 percent in Paris, even as first-half profit beat estimates. Richemont dropped as much as 4.3 percent in Zurich.
