News
Diamond jewellery sales in India set to increase 15% - 20% on sharp rise in gold prices
Indian diamond jewellery retailers anticipate a 15% - 20% increase in sales during the 2026 festive season, driven primarily by the sharp rise in gold prices which prompts consumers to consider diamond jewellery in more affordable price range...
Today
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
Exit Interview With De Beers Exec Stephen Lussier
09 february 2022
(jckonline.com) - Last week, Stephen Lussier (pictured), De Beers’ longtime head of marketing, announced he was retiring after 37 years with the company. (He’ll remain a consultant to De Beers and chair of the Natural Diamond Council.) Here, he talks with JCK about lessons he’s learned during his tenure at De Beers; how he helped build major diamond markets in Japan, China, and elsewhere; and how the three-stone ring was like ketchup with barbecue sauce.
A long predicted supply squeeze has finally dawned over world’s diamond industry
08 february 2022
(miningmx.com) - The diamond market had seen a structural change where the “long-predicted supply squeeze is being reflected over all the diamond categories”, according to Petra CEO Richard Duffy. He told analysts at an Investor Day presentation held in London on Tuesday that currently there was a “very strong demand pull into an inventory pipeline where inventories are largely depleted and the ability of suppliers to provide inventory to the market is very low”. “This is important because it is a structural change – not a bubble or a blip – and it is supported by supply/demand fundamentals. This suggests we will have a robust and supportive market going forward.”
There’s a buying frenzy in cheap and tiny diamonds
08 february 2022
(mining.com) - A surge in diamond demand that began in the early Covid lockdowns is showing no sign of easing, and now even the cheapest, smallest stones are getting caught up in a buying frenzy. Low-end diamonds — the sort that you might find in jewelry displayed in a local Walmart — has been a tough business for most of the last decade. There’s been an oversupply of cheaper stones, which tend to be small and flawed, and anemic demand growth kept prices depressed and profit margins thin. But the past three months have shown a sharp reversal as demand surged among U.S. consumers, who buy about half the world’s diamond jewelry, at the same time that the closure of one of the world’s biggest mines is putting pressure on supply.
The Vicious Rough Cycle
07 february 2022
(diamonds.net) - There were many factors behind the rough-diamond price hikes De Beers reportedly implemented this week. So much so that the move hardly surprised the market, even if it dominated discussions in trading and cutting centers and on online forums. Sightholders were a little taken aback by the extent of the increases — an estimated 5% to 12% for 3-grainer and larger goods, and up to 15% for smaller rough. They weren’t expecting such a bold move by the mining company. But on the whole, higher rough prices were anticipated, as noted by this column last week (“The Pressure Is On”). There, we observed that December through February is generally a busy period for the sector. And since De Beers and Alrosa registered relatively low sales in December, there was some pent-up demand that would be released this month, making it an opportune time to raise prices. However, seasonality plays only a minor role in influencing market trends. Pricing should rather reflect the balance between supply and demand or indicate that the two are out of sync.
555.55-ct Diamond is a Real Enigma
04 february 2022
(idexonline.com) - Sotheby's say it's "a treasure from interstellar space". The Enigma is certainly an exceptional gem, certified by the GIA as the largest fancy black natural colour diamond in the world, polished with 55 facets and weighing 555.55 carats. But is the diamond, valued at up to $7m, actually "out of this world"? The auction house, which will be selling it in a single-lot online auction next month, said: "Its origins are shrouded in mystery - thought to have been created either from a meteoric impact or having actually emerged from a diamond-bearing asteroid that collided with Earth."
