News
Richemont, Signet in talks to join De Beers consortium – report
Luxury group Richemont and US retailer Signet Jewelers are in advanced talks to join the Global Diamond Consortium (GDC) bidding for De Beers, according to five people familiar with the matter, Bloomberg reports.
Yesterday
Rio Tinto begins Q4 of 2026 with strong operational performance
The Anglo-Australian mining group Rio Tinto has reported its third-quarter 2026 results, highlighting strong operational performance.
Yesterday
Silver market deficit to widen in 2026 - report
In the latest World Silver Survey prepared by the Silver Institute and Metals Focus, the global silver market deficit is forecast to widen for the sixth consecutive year to 46.3 million ounces.
Yesterday
Tharisa signs PGM offtake deal with Valterra Platinum, expands chrome collaboration
South Africa’s Tharisa has entered a binding arrangement for the sale of PGM concentrate to Rustenburg Platinum Mines, a subsidiary of Valterra Platinum, effective 1 January 2027.
Yesterday
Norilsk hosts Nornickel’s 3rd Geology and Mine Surveying Forum
The 3rd Geology and Mine Surveying Forum, organized by Nornickel, has kicked off in Norilsk. The event continues to grow in scope, this year bringing together representatives from universities, equipment suppliers, design teams, mining companies, and...
Yesterday
Online sales boost luxury goods group Richemont’s earnings
30 january 2019
(businesslive.co.za) - Johann Rupert’s Richemont, the luxury goods group that was initially cautious about e-commerce, has seen online businesses YOOX Net-a-Porter (YNAP) and Watchfinder giving its earnings a handy boost. The Swiss-based group, which owns, among others, the Cartier and Van Cleef & Arpels brands, said YNAP’s contribution was the main reason sales were up 25% to €3.91bn for the third quarter to end-December. The contribution of Richemont’s online operation offset a somewhat sluggish retail operation whose sales rose a modest 7% to €2bn. Sales for its wholesale operations only increased 1% to €1.1bn. By comparison, online sales surged from €59m to €694m. Prior to the acquisition of YNAP, the group’s online sales contributed only 1% to total sales, but now make up close to 18%.
Promoting See-Through Transparency Is Critical
29 january 2019
(idexonline.com) - I was in an elevator in a hotel in Mumbai several years ago at the end of a conference when a well-known diamond industry figure walked in with a small entourage. "You know what the trouble is with transparency?" he asked. "You can see right through it." Seemed pretty amusing at the time; the entourage certainly enjoyed it. Given the speed of developments in the industry, however, it seems today to be rather a feeble and irrelevant joke. I am sure that there are many other people who related to the need for responsible sourcing and transparent business operations with similar sarcasm. Doubtless there were many who hoped it would fade away, sort of like a passing fashion. I am equally sure that there are still many in the trade operating quietly and trying not to appear on the industry's radar who are not that interested in running transparent operations either.
Miners Seeking Profits Beyond Rough
28 january 2019
(diamonds.net) - Some large diamond producers have been trying to conquer manufacturing and retail, but will independent businesses pay the price? De Beers has been dabbling in the retail end of the diamond industry for more than 15 years, but recently, other miners have begun to follow suit, breaking out of the production box and entering other aspects of the trade, progressively seeing the benefits of diversifying.
Rio Tinto set for ramp up of activity at Star Diamond site
25 january 2019
(panow.com) - Rio Tinto says it’s too early to speculate on the long term viability of the proposed diamond project in the Forte à la Corne forest 60 kilometres east of Prince Albert. It also stressed it’s too early to say what benefit or revenue-sharing arrangements may be possible with local Indigenous groups. The mining giant is now ramping up its community engagement ahead of large scale exploration work for what the company labelled Project Falcon starting in the spring.
December 2018 Market Report: A Slow Year Aptly Ends with Slow Sales
24 january 2019
(ehudlaniado.com) - A sharp drop in demand and a rise in inventories characterized trade in December. Polished diamond traders around the globe were feeling blue after retail sales of diamond jewelry failed to meet expectations.
