News
Indian jewellers promote natural diamonds amid competition from lab-grown stones
Falling prices for lab-grown diamonds and their resulting rise in market share are transforming India’s diamond jewellery market and prompting jewellers to take proactive measures.
Yesterday
Ethiopia opens first gold refinery to serve region
Ethiopia has inaugurated its first gold refinery, a $50 million joint venture that the government hopes will establish the country as a regional hub for precious metals processing, Prime Minister Abiy Ahmed announced over the weekend, according to Reuters...
Yesterday
Anglo American bets R11.2B on South African mining's future
Anglo American has reaffirmed South Africa's potential as a premier mining investment destination, even as the company commits R11.2 billion ($677 million) to an ultra-high dense media separation iron-ore project at Sishen in the Northern...
Yesterday
Nornickel forecasts $4 billion in precious metals revenue for 2026 - report
A senior Nornickel representative noted that the company expects to generate $4 billion in revenue from precious metals sales this year.
Yesterday
Russia to build first permanent REM magnet plant
In 2028, Russia is set to start the construction of its first plant for manufacturing permanent magnets from rare-earth metals (REM) in the city of Glazov, to be commissioned in 2029 with an initial capacity of 500 tonnes per year, said Andrey...
Yesterday
The Current State of the Diamond Market Is…Not Good
26 july 2024
(jckonline.com) - Both the natural and lab-grown diamond sectors are hurting right now, industry members acknowledged at a panel on “The Current State of Diamond Market,” held July 16 during the Initiatives in Art and Culture’s 14th annual Gold + Diamond Conference in New York City.
Russia overtakes Botswana as a leading diamond producer by volume despite sanctions
19 july 2024
The Kimberley Process (KP) recently released its 2023 statistical data for trade and production of rough diamonds, by value and volume. What is of interest from the dataset is that the value of Russia's rough diamond output exceeded Botswana's for the first-time last year despite sanctions by the European Union and the G7 coupled with a poor market, which hampered the East European country's gem sales.
Diamonds pose a quantum block to India’s research ambition
12 july 2024
(thehindu.com) - Customs Department’s decision on who can and cannot import diamonds is taking some of the lustre off the National Quantum Mission (NQM), a ₹6,000-crore initiative, which may allow India take the lead in the emerging field of quantum technologies.
How Luxury Houses Are Boosting Their Jewelry Market Share
05 july 2024
(rapaport.com) - Richemont and LVMH are well positioned to increase their brands’ influence over the industry. Last year was a big one for luxury jewelry companies. Several brands celebrated milestones, launched new collections and unveiled physical locations, which further elevated their status among high-end consumers.
Probably more diamond industry uncertainty now than at any other point – Gemdax
28 june 2024
(miningweekly.com) - While the diamond sector probably has more uncertainty now than at any other point, participants also probably have a bigger opportunity than ever to shape what the future will look like.
