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
Could The US Banking Crisis Have A Ripple Effect On The Diamond Industry?
10 may 2023
(gjepc.org) - The recent banking crisis in the US has sent shockwaves through the economy, with many experts predicting that it could have a significant impact on the luxury market. The crisis was brought about by a number of factors, including the collapse of several large financial institutions, the subprime mortgage crisis, and a general lack of oversight and regulation in the banking sector. As a result, many consumers have been left with less disposable income and a decreased appetite for luxury goods. This could spell trouble for high-end retailers, who may see a decline in sales as a result of the crisis.
Smaller Watches Are the Biggest Timepiece Trend of 2023
09 may 2023
(bnnbloomberg.ca) - Ever since the wristwatch was invented, its makers have grappled with the question of how big it should be. Thick as a hockey puck or puny as a nickel? At the moment, watchmakers are leaning into the latter, a trend that crescendoed last month at Watches and Wonders, the annual luxury watch fair in Geneva. More than a dozen brands welcomed new product lines in small sizes—or welcomed reduced versions of existing popular models.
Nazi Cloud Hangs Over One of the Largest Jewelry Sales in History
08 may 2023
(nytimes.com) - The gems in Christie’s huge sale next week come from the estate of a woman whose husband bought businesses from Jews pressured to sell because of Nazi persecution.
Ahmed bin Sulayem, Chairman and CEO of DMCC comments the article on Russian gold published by Bloomberg
05 may 2023
(twitter.com) - Comments by Ahmed bin Sulayem, Chairman and CEO of the Dubai Multi Commodities Center (DMCC) on the article "Russian Gold Is in Hands of Obscure Firms as JPMorgan, HSBC Exit" published by Bloomberg at www.bloomberg.com/news/articles/.
Provenance Device Could Transform Diamond World
05 may 2023
(idexonline.com) - The diamond industry has faced three major disruptive factors in the past three years: lab grown diamonds, the global pandemic, and the Russia-Ukraine war. Spacecode, a Swiss company focused on automated diamond inventory management systems, has developed a unique diamond identification and authentication technology. Last week it announced a technology breakthrough in its research, enabling the identification of a country-of-origin for both rough and polished diamonds. If Spacecode's technology determining the origin of diamonds is proven to be commercially viable, the industry could face an additional, and probably one of the most significant transformations in its history.
