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...
Yesterday
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.
Yesterday
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.
Yesterday
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.
Yesterday
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.
13 october 2026
Revenge-Spending Binge
13 april 2021
(bloomberg.com) - Shoppers are out for vengeance. A year into a pandemic that’s devastated lives, jobs and the economy, those who are lucky enough to have disposable income are ready to go out and splurge — even if they still have nowhere to go in that stunning dress or those brand-new sneakers. Some are calling this “revenge spending.” U.S. retail sales are near record highs and employment, and vaccinations are on the rise. Americans have amassed a massive stockpile of excess savings — Bloomberg Economics estimates it to be about $1.7 trillion since the beginning of the pandemic through January. And that’s about to be bolstered by a new round of stimulus payments. As the economy reopens, consumer spending over the next two quarters is likely to be the strongest such period in at least 70 years with a rebound in services leading the way, according to economists at Wells Fargo & Co.
A Fancy Contrarian Opportunity
12 april 2021
(streetwisereports.com) - From an investment perspective, diamonds may be one of the last contrarian bets left within the commodity complex. Base metals, battery metals, precious metals—prices of each have surged in the past year as inflation looms. Diamonds have lagged until recently, despite favorable supply-demand dynamics coming out of a long bear market that saw global diamond exploration screech to a virtual halt. Large diamonds and rare colored diamonds are leading the way. Last year Louis Vuitton, the world's most powerful luxury brand and the recent acquirer of Tiffany & Co., purchased two of Lucara's most prized diamonds—the 1,758-carat Sewelo and the 549-carat Sethunya (above)—with plans to turn them into brilliant centerpieces. The Sewelo is the second largest rough diamond ever mined. A 59.6-carat fancy pink diamond, the "Pink Star," sold for a record US$71.2 million in 2017. Smart contrarian investors are taking notice.
Grovelling apologies fail to get Rio Tinto out of a hole
09 april 2021
(theguardian.com) - As acts of corporate vandalism go, Rio Tinto’s obliteration of a sacred site in Western Australia is right up there. The expansion of an iron ore mine knowingly destroyed a cave containing 46,000 years of human history. It had yielded a 4,000-year-old hair plait that showed a direct genetic link with living descendants. The scandal has already cost Rio Tinto a chief executive, Jean-Sébastien Jacques, and other bosses, but the backlash from the destruction of the Juukan Gorge is still reverberating, as the remaining executives at the FTSE 100 miner will find at its annual meeting on Friday.
Modern Alchemists Turn Airborne CO2 into Diamonds
09 april 2021
(scientificamerican.com) - The dawn of the Biden administration and its focus on climate change is attracting more industries to a solution that was, until recently, thought to be more trouble than it’s worth: the direct removal of carbon dioxide from the atmosphere. The idea of collecting CO2 from the sky and trapping it in valuable products before it can warm the Earth is a seductive marketing strategy. Especially for an industry that sells precious items that last “forever.”
A Sometime Industry Critic Is Returning to the State Dept.
08 april 2021
(jckonline.com) - Jose Fernandez, who advocated for Kimberley Process (KP) and wider industry reform when he was assistant secretary of state for economic, energy, and business affairs under the Obama administration, has been nominated to rejoin the U.S. State Department as an undersecretary. That’s a higher-level role than he had last time—and could mean a renewed focus on responsible sourcing in both the diamond and jewelry industry. As assistant secretary, Fernandez took a great interest in the KP, and the United States spent a year chairing the certification scheme. He also occasionally expressed impatience with industry reform efforts.
