(rapaport.com) - This year will be remembered for the impact that geopolitical and economic developments had on all industries, while parts of the world were still contending with Covid-19. The diamond trade is no exception. Fresh off a bumper 2021, which saw stellar gains in all segments of the pipeline, the market experienced the effects of the Russia-Ukraine war, US economic caution and the slowdown in China. Those factors affected supply and demand, disrupting the growth experienced in 2021. Polished diamond prices declined, with the RapNet Diamond Index (RAPI™) for 1-carat stones down 9.9% for the year to date until December 15. The index slid 3.1% in November and a further 0.6% in the first two week of December.
News
Meya’s commercial diamond production delayed until at least Q4 2026, Trustco warns
Meya Mining's transition to full commercial diamond production in Sierra Leone has been materially delayed and is now not expected before the fourth quarter of 2026 at the earliest, Trustco Group has warned.
Yesterday
Canada to invest $400m in Teck’s polymetallic smelter in British Columbia to support critical minerals production
The Canada Growth Fund (CGF) and the Natural Resources Canada (NRCan) plan to invest up to $400 million in Teck Resources’ Trail polymetallic smelter under the Canada Critical Minerals Accelerator fund to expand the production capacity...
Yesterday
Titan's jewelry sales in India grow amid festive demand
Titan's jewelry revenue grew 39% year-on-year in the first quarter, compared to an 18% growth in the same period of last year. The company announced this after summing up the results of the new financial year, the first quarter of which ended...
Yesterday
Chilean authorities grant first major environmental approval for BHP’s Escondida copper project expansion
Major miner BHP Group has received the first important environmental approval for the expansion of its Escondida copper mine in Chile that would cost an estimated $14.7 billion in investment.
Yesterday
Citi becomes fifth clearing member of global bullion trading market
Citi has joined the ranks of HSBC, ICBC Standard Bank, JPMorgan and UBS in the clearing network of the over-the-counter gold market in London.
Yesterday
