There is a passage in the Talmud that says, “More than the calf wants to suckle, the cow wants to nurse.” Today’s rough diamond market is a good example of this, says Edahn Golan on IDEX Online: the miners want to feed manufacturers rough more than the manufacturers want to buy it. As a result, goods are trading at low prices and many goods are left unwanted.
News
China increases gold reserves while domestic production declines
China's domestic gold production for the first nine months of this year was 268,068 tonnes, down 1.17% year-on-year, the China Gold Association (CGA) reported.
Yesterday
Debswana diamond sales more than halved in first nine months of 2024
Debswana Diamond’s sales of rough diamonds dropped by about 52% in the first nine months of 2024, according to data released by Botswana's central bank.
Yesterday
AngloGold gets the nod to acquire Centamin for $2.5bn
Centamin shareholders gave their approval to AngloGold Ashanti's plan to buy the company for $2.5 billion. This means that the deal is one step closer to being finalised.
Yesterday
Chow Tai Fook sales drop 21% on record gold prices
Hong Kong-based jewellery chain Chow Tai Fook Jewellery Group Limited (CTF), with 7,500 stores across mainland China, reported a 21% drop in retail sales in the three months to September 30.
Yesterday
Diamcor gets a loan to speed up increased processing at Krone-Endora
Diamcor Mining intends to complete a term loan financing of up to C$1.5 million ($1.07 million) to expedite efforts to support material processing at significantly higher volumes at the company’s Krone-Endora at Venetia Project in South Africa...
Yesterday