News
South Africa mining output falls 12.7% in August on weak PGMs, coal and iron ore
South Africa's mining output declined 12.7% year-on-year in August, according to Statistics South Africa, with platinum group metals, coal, and iron ore accounting for the largest negative contributions.
Today
Aterian expands copper footprint at Azrar project in Morocco
Aterian has identified multiple copper showings and substantially expanded the known mineralisation footprint at the Amane Target of its 85%-owned Azrar Copper-Silver project in Morocco, following initial exploration fieldwork.
Today
Russia’s Ministry of Natural Resources identifies region with largest platinum and palladium deposits
Russia retains second place globally in terms of platinum and palladium reserves, while the largest deposits of these metals are concentrated in Krasnoyarsk Territory, according to the Russian Ministry of Natural Resources.
Today
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
Inside the metaverse economy, jobs and infrastructure projects are becoming real
16 february 2022
(cnbc.com) - If 2021′s word of the year was “NFT,” Avery Akkineni says 2022′s will be “Web 3.0.” As president of VaynerNFT, Akkineni spends much of her time consulting with brands looking to get a piece of the metaverse action. The notion of a “corporate metaverse strategy” is new — VaynerNFT itself was founded less than 6 months ago — but it’s building momentum. The company’s first client was Budweiser, and Akkineni foresees plenty of other major brands following its lead. In fact, the baseline, widely agreed-upon prediction for 2022: more major brands will get involved in Web3 projects.
Gemist Receives $3 Million In Seed Funding
15 february 2022
(jckonline.com) - Try-before-you-buy website Gemist has received $3 million in seed funding from Entrada Ventures and coinvestor De Beers Group Ventures. De Beers had previously provided pre-seed money for the venture, so it is now investing additional cash. Stephen Lussier, the longtime De Beers executive who retired last month, has been a member of Gemist’s board of directors and will stay on the board in his role as a De Beers strategic adviser. Entrada managing partner Julie Henley McNamara will also join the company’s board. Gemist founder and CEO Madeline Fraser — who is now on her third startup — says she wants to bring on “engineers and marketing executives” to boost the Los Angeles–based site’s tech and profile.
January 20, 22 Will Banks Now Open Their Doors?
14 february 2022
(idexonline.com) - Diamonds may be a girl's best friend, but they can also be a criminal's. There are so many different ways to exploit rough or polished gems, at so many points along the pipeline. But are banks and financial institutions using an over-sized hammer to crack a medium-sized nut by imposing a blanket set of AML (anti-money laundering) rules on all diamond traders - and beyond - with little regard for the welfare of the many innocent parties who suffer as a result? The European Banking Authority (EBA), a Paris-based arm of the EU, seems to think so. In a legal opinion published earlier this month it suggested they'd gone too far in closing the door to entire sectors - not just diamonds but also gambling operators, FinTech firms and even embassy staff. And it warned that the rush by banks across Europe to de-risk could actually prove to be counter-productive, leading to the creation of a shadow financial system that is actually harder to regulate.
How Luxury Brands Are Making Money In The Metaverse
11 february 2022
(forbes.com) - Would you pay hundreds of dollars for a purse, coat, or shirt that you never get to wear in the real world? Gamers already have a long history of using clothes and accessories to establish their virtual identities, and there’s every indication that metaverse users will do the same. Executives of luxury brands are taking the trend seriously and moving quickly to capitalize on the opportunity to sell virtual versions of their products to people in the metaverse. In the new frontier of the metaverse – a persistent, shared virtual world that users can access through different devices and platforms – avatars are everything. And that means some users will pay big bucks to outfit their avatar with luxury goods.
Jewellery helps Richemont sales jump amid post-pandemic luxury revival
10 february 2022
(reuters.com) - Strong demand for its jewellery and watches in the Americas and Europe in a post-pandemic rebound helped quarterly sales at Cartier owner Richemont rise by nearly a third, the world's second-largest luxury group said on Wednesday (January 19, 2022). Sales at Richemont rose to 5.658 billion euros ($6.41 billion) in the company's third quarter ended December, a 32% increase when currency swings were removed. The performance was 38% better than the 2019 Christmas quarter before the pandemic hit, Richemont said in a statement.
