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
Carbon emission plans could cost SA’s gold, PGM miners up to 20% of market value
25 october 2021
(miningmx.com) - The cost of cutting carbon emissions for South Africa’s precious metal mining companies could be as much as 20% of their market capitalisation. This is according to a report by Nedbank Securities analyst Arnold van Graan who assumed a 30% carbon emission reduction target over 10 years. Van Graan added that while carbon emission abatement had become a business imperative, it had also “… started to impact the investment case of the companies we cover”. Firms included in the analysis were Sibanye-Stillwater, Gold Fields, Anglo American Platinum and AngloGold Ashanti. Companies have typically targeted a reduction in carbon emissions of 10% to 30% by 2030.
HRD Antwerp Ends Partnership in Turkey, Dubai
25 october 2021
(diamonds.net) - HRD Antwerp has terminated its collaboration with a local partner in Turkey and Dubai, the Belgian grading organization said. Mehmet Can Özdemir and his company had managed HRD’s laboratory in Turkey since 2014, Ellen Joncheere, HRD’s CEO, told Rapaport News Wednesday. HRD owned 50% of the business in Turkey in a joint venture, while the pair also operated a partnership in Dubai in which HRD held a majority stake. Joncheere and Özdemir both denied a report on a Turkish news website alleging that the Istanbul office had over-graded stones and that this was the reason for closing the office.
Implats looking beyond PGM family as ponders growth into “future facing metals”
22 october 2021
(miningmx.com) - It’s fair to say Impala Platinum CEO, Nico Muller is managing expectations regarding the platinum group metal (PGM) mining firm’s growth plans when he says it is “… developing a radar screen” for “future-facing” metals. To be clear, future facing metals is term intended to include battery metals such as nickel, copper and cobalt, but which also extends beyond them.
Time’s Up, Hong Kong: Mainland China Takes Over Swiss Watch Sales
21 october 2021
(jingdaily.com) - For more than a decade, Hong Kong was the Swiss watch industry’s number one export market. However, that is no longer the case. According to the Sell-Out Index, which measures the aggregated sales performance of the watch and jewelry industry in selected markets every month, China’s special administrative region lost half of its hard luxury sales between 2018 and 2021, down to $2.5 billion from $5.7 billion. Previously, the duty-free peninsula was the Mainland’s preferred shopping destination for Swiss watches. But a pro-democracy demonstration in 2019 and restricted entry into Hong Kong for non-residents since the pandemic outbreak in 2020 have hammered the city’s retail sector. Now, Chinese shoppers are shying away from spending there.
CORDER’S COLUMN: Is the Rolex boom a bubble?
20 october 2021
(watchpro.com) - As Robin Swithinbank persuasively argued in a recent column, the irresistible economic consequences of limited supply and soaring demand are damaging some of the luxury watch industry’s biggest players, particularly Rolex, but also Patek Philippe and Audemars Piguet. Sticking with the language of economists, this begs the question of whether extreme prices for Rolex’s most popular models — an ever-widening list that includes the Daytona, Submariner, Oyster Perpetual and GMT Master II — constitutes a bubble, with the associated risk of a crash?
