News
Tharisa meets FY2026 guidance, Karo Platinum fully funded as net debt swings to $51m
Tharisa has reported full-year production in line with guidance for both platinum group metals (PGMs) and chrome concentrates, while confirming its Karo Platinum project in Zimbabwe is now fully funded following a $300 million bond issue.
Yesterday
Israel’s diamond sector poised for revival following tax reforms and De Beers comeback
De Beers, one of the world's major diamond market players, has announced the resumption of its operations in Israel after a nine-year absence, which became the latest sign of revival of the diamond industry in the country.
Yesterday
Kefi Gold and Copper restarts Tulu Kapi development after safety review
Kefi Gold and Copper has resumed development at its Tulu Kapi gold project in Ethiopia following a suspension that began on September 7 after a serious safety incident three days earlier.
Yesterday
Nornickel implements smart melt monitoring system
Norilsk Nickel has installed a smart melt monitoring system at its metallurgical plant in Norilsk in collaboration with Reksoft. The system uses computer vision to assist the converter operator in identifying phases during the tapping process.
Yesterday
ALROSA to help amplify Arctic agenda at UN
In preparation for the 31st UN Climate Change Conference (COP31), ALROSA experts and other stakeholders from Russia discussed a unified approach to strengthening the country’s position and the Arctic agenda at UN climate conferences.
Yesterday
Brace Yourself, The Decline is Here
(edahngolan.com)
- After two very buoyant years, the decline everyone knew would hit has finally arrived. It’s not just the slowdown in China, the second largest consumer market, but the US is feeling it as well. In May, according to the latest US data by Tenoris, diamond unit sales dropped 24% year over year. In May, there is usually a rise in diamond jewelry retail sales, thanks to Mother’s Day. But contrary to the typical cyclical trend, diamond sales declined compared to April. The good news is that while the number of sold diamonds fell, the average expenditure on diamonds soared 18.7% year over year to $10,242, or more than $8,000 per carat. The drop in unit sales explains the decline in wholesale trade in the past month. Israel’s net polished diamond exports, for example, dropped 64% in May compared to April. US specialty jewelers’ inventories, which were high compared to past years, declined in May. Their diamond purchases were slashed nearly by half.
