News
Botswana, De Beers suitor near deal on ownership stakes – report
Botswana and a consortium leading the race to acquire De Beers are close to agreeing on their future ownership stakes, potentially clearing the way for Anglo American to exit the diamond miner, according to Bloomberg.
Today
Petra Diamonds subsidiary ordered to wind up over unpaid tax
Petra Diamonds has confirmed that a winding-up order has been made against its wholly owned indirect subsidiary, Petra Diamonds UK Treasury Limited (PDUK Treasury), following a petition by HM Revenue & Customs.
Today
LVMH’s watches & jewellery division revenue rose 8% in the first nine months of 2026
The Watches & Jewellery division of the French conglomerate LVMH, home to over 75 world-renowned luxury brands, recorded an 8% organic revenue growth during the first nine months of 2026 thanks to strong jewellery demand, despite a challenging economic...
Today
Russian companies to increase investment in PGM exploration by 17% in 2026
In 2026, Russian companies will increase their investment in the exploration of platinum group metals (PGM) by 17%, with the total reaching nearly 2 billion rubles ($23 million), the Russian Ministry of Natural Resources and Environment...
Today
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
Nornickel Announces Comprehensive Support Programme for Taimyr’s Indigenous Peoples
28 october 2020
Nornickel, the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has signed cooperation agreements with three organizations representing the indigenous peoples of the Taimyr Peninsula. These organizations represent over 90% of the indigenous population living in the north of Russia. Nornickel has developed jointly with them a comprehensive, five-year support programme totalling 2 billion roubles. The new programme expiring in 2024 includes a wide range of various initiatives aimed at the protection of the natural habitat and support of the traditional activities of the indigenous peoples, as well as funding for housing, medical, infrastructural, touristic, educational, and cultural projects. The list of these projects has been defined with an immediate input from the local indigenous communities, which should provide the basis for the most efficient cooperation between indigenous peoples, local governments, and industrial companies regarding regional development.
The Third Wave: After COVID-19 and Economic Hardship, What is Luxury’s Next Challenge?
28 october 2020
(jingdaily.com) - With so many societal changes going on in the world, it’s getting harder to believe in blind, senseless consumerism. Given the ongoing COVID-19 pandemic and the ensuing economic contraction, more and more consumers are gradually shifting from products to purpose. Even as the business of luxury shows swift signs of a rebound, luxury brands need to prepare now for the next challenge — environmental, social and governance issues — which can no longer simply be a tick box exercise.
Diavik’s continued operation now ‘at risk’ over missing $120M
27 october 2020
(cabinradio.ca) - The future of the NWT’s Diavik mine is now “at risk,” managers say, with Diavik operator DDMI owed $120 million by financially stricken minority owner Dominion.
The star that burns twice as bright burns half as long: Petra Diamonds completes its falls from grace, and looks unlikely to rise any time soon
26 october 2020
(proactiveinvestors.co.uk) - It was as inevitable as it is painful: shareholders in Petra Diamonds Ltd (LON:PDL) are facing a near total wipeout as bondholders take over the running and ownership of the company, following a disastrous few years at what was once the world’s fourth largest diamond company.
Testing of Micromine brought to new level
23 october 2020
The software produced by Micromine is an integrated 3D-modeling solution that provides tools for estimation, design, optimization and scheduling of mining operations.
