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
Banks Unfairly Shunning Diamonds, EU Report Says
27 january 2022
(diamonds.net) - Diamond dealers are missing out on access to banking as financial institutions go overboard in their efforts to reduce risk, according to a European Union regulatory agency. The industry is one of several groups of customers that have struggled to open bank accounts and obtain other services, the European Banking Authority (EBA) said in a report last week.
The Pressure Is On
26 january 2022
(diamonds.net) - The industry began 2022 with high inventory, manifesting in a record number of diamond listings on RapNet. Yet polished prices continue to rise. This suggests that demand is outpacing supply, which would be a good dynamic for the market. However, there are other factors at play. The most important of these relate to expectations — of the volume and value of the rough supply entering the market, and of how much further suppliers can push up their polished prices. It’s too soon to declare a speculative market. But it does feel that the industry is at a crossroads, with some degree of uncertainty as to whether the upward price momentum is sustainable in 2022.
Buoyant jewellery sales help drive further easing in Petra Diamonds’ financial outlook
25 january 2022
() - Pressure on Petra Diamonds’ finances eased further in the first six months of its financial year ended December. According to a trading update today revenue increased 49% to $264.7m owing to a marginal lift in production to 1.78 million carats and a vastly improved diamond market when compared to conditions in the first six months of last year. Petra was also bullish on the prospects for its full-year free cash flow which would be at the “upper end” of its $100m to $150m forecast as set down in a business efficiency programme called Project 2020.
A New Dawn for Angola
24 january 2022
(diamonds.net) - The African nation is trying to shake off its troubled past to establish itself as a major global diamond hub. Angola’s diamond potential stems from its rough production, according to industry veteran Peter Meeus, who serves as a special advisor to the ministry. It is what separates Angola from traditional trading centers such as Antwerp and Ramat Gan, and newer ones like Dubai, he explained at the Angola International Diamond Conference.
Putting Australia back on the Diamond Map
21 january 2022
(idexonline.com) - Last November marked the end of an era for Australia's diamond mining industry. The Argyle mine ceased operations after 37 years. It had dominated the market for pink diamonds, producing 90 per cent of global output, but operators Rio Tinto had concluded it was no longer economically viable. Argyle produced a total of 865m carats in its lifetime and for some years it was the world's largest diamond mine by volume. It was Australia's only working diamond mine and since its closure the country's diamond output has dropped to zero. But the industry is about to be revived and Australia is about to win back its place on the map of diamond-producing countries. Its two remaining diamond mines - Ellendale and Merlin - are both currently out of action, but both are on the brink of resuming operations.
