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
An Opportune Time
15 june 2018
(ehudlaniado.com) - It is an unusual diamond market these days. Polished diamond exports from India were down about 1.5% in April compared to March, but up 14% year-over-year. The rise was not a result of improving prices, as the average value of goods declined 2.4%. The reason for the rise in exports was the high volume of shipments out of the leading manufacturing center, increasing 17% to 2.77 million carats. At the same time, rough trade through India declined by all measures – imports and exports, value and volume. Even by average value per carat.
All-women mining rescue team sets sights on international competition in Russia
14 june 2018
(cbc.ca) - An all-female mine rescue team thinks it could be the first of its kind to participate in the International Mines Rescue Competition in Ekaterinburg, Russia, later this year. The week-long competition includes many different events — from firefighting to first aid and a rescue simulation. Heather MacKenzie is one of the team members of Diamonds in the Rough. She grew up in Yellowknife and works for a mining company in the Northwest Territories. "The fact that we're putting together this team, we're ensuring that this competition will have double the amount of women that were at the last international [competition]," said MacKenzie. She said she's always been a minority as a woman in the mining industry, and that is the same in mining rescue. "It's often seen as a position that women don't generally hold," she said. MacKenzie is currently training for a territorial competition with her company, which will help her prepare for the international competition in Russia. For about a month, she'll train for 12 to 16 hours a day. "I've always been a competitor," said MacKenzie. But there is one problem: funding.
US Jobless Down But Static Wages Preventing Widespread Spending
13 june 2018
(idexonline.com) - With an official unemployment rate a shade under 4%, one might expect the American consumer to be feeling comfortable about spending more of his hard-earned cash. They should also feel that they are benefiting from the strength of the US economy. While diamantaires – including not a few with whom I spoke at the Carat+ show in Antwerp this week – say the US market is solid generally and strong in pockets, none of them said it was storming ahead. According to a new poll I saw, just 12% of Americans said that they feel they are enjoying the benefits of the economy, while another 32% said they had received some benefit from the economy, according to the Monmouth University Polling Institute. Most, however, said that their families are still struggling.
De Beers-Botswana Diamond Agreement Talks Set To Be A Tough Battle
09 june 2018
(idexonline.com) - Botswana’s President Mokgweetsi Masisi is reportedly looking for a new long-term diamond deal with De Beers when the sides' current 10-year agreement expires in two years which will include provisions for more stones to be cut and polished domestically. As with the last deal that began in 2010, both Botswana and De Beers have a strong incentive to reach an agreement: diamonds are a critical part of Botswana’s gross domestic product and foreign exchange earnings; meanwhile, more than 60% of the mining giant's diamonds come from Botswana.
Is De Beers’ Lab-Grown Line a Machiavellian Masterstroke?
08 june 2018
(jckonline.com) - Immediately after De Beers announced it was launching its Lightbox lab-grown diamond line, cutting in some parts of India virtually halted. One person described the shock as “Richter scale, 9.” Sightholders and other producers felt blindsided. Everyone scrambled to figure out what it meant. At JCK Las Vegas on June 1, the Lightbox team held a lunchtime meeting that seemed to calm down at least some people. Executives explained that they wanted to create a new market, not replace the old one. “We look at this as an additive, rather than a substitutive business,” said Lightbox general manager Steve Coe. Throughout the lunch and in interviews, De Beers executives, with a few exceptions, didn’t sound all that excited about the new member of the family. They called synthetic diamonds “not rare,” “not precious,” and suitable for “emotionally shallower occasions,” like a Sweet 16 or quinceañera. “Love, commitment, forever,” pronounced executive vice president of corporate affairs David Prager, “are not grown in a lab.” Lightbox is jewelry that, if you lost it at the beach, “you wouldn’t be quite so concerned,” said head of marketing Sally Morrison. It reminded one attendee of The Producers: like executives were deliberately disparaging their own product.
