News
Lundin achieves record quarterly gold output at its flagship Ecuador mine
Vancouver-based Lundin Gold has reported that in the third quarter of 2026, gold production at its Fruta del Norte mine in southeast Ecuador hit a new quarterly record.
Today
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.
16 october 2026
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.
16 october 2026
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.
16 october 2026
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.
16 october 2026
From Tulips to Diamonds – Rarity
14 february 2017
(ehudlaniado.com) - How rare were tulip bulbs in the 1630s? Were there ways to reproduce them quickly? Or were they, perhaps, difficult to grow? These are questions for historians. What I do know is that diamonds are rare. It is important to know that diamonds are rare. Rarity creates value. That is an old economic adage. A collection of antique cars is valuable because of its rarity. Art likewise fetches higher prices because of rarity. After an artist dies, the value of their works tend to rise. That is the economy of rarity in action. Diamonds are rare as well. About 82 percent of the world's diamond production is from just five countries. They are Russia, Botswana, Democratic Republic of the Congo, Australia, and Canada. Together, they exported 104 million carats in 2015, according to the Kimberley Process.
From frying pan to fire: will DiamondCorp withstand the heat?
13 february 2017
DiamondCorp noted early March 2016 that a new study on its 74 percent-owned Lace mine, in South Africa had estimated the mine’s total resource at 38.48 million tonnes down to the 920 metre level. The company appeared very confident of the future of Lace, until disaster struck, later that year. In October, 2016, Lace Diamond Mines received a shutdown notice on underground operations by the South African Department of Mineral Resources (DMR), following a fire incident on a dump truck that was extinguished without injury. As if that was not enough, DiamondCorp placed its operating subsidiary, Lace Diamond Mines (LDM) into a business rescue towards the end of 2016 following the suspension of its shares from trading on both the AIM Market of the London Stock Exchange and on the Alternative Exchange of the JSE pending clarification of its financial position following a flooding incident at Lace mine. The company said two extreme thunderstorms passed over the Lace mine in November, dropping almost 90mm of rain in just over an hour. DiamondCorp said more than 10,000 cubic meters of water was estimated to have entered the mine through the open pit and access ramps. No doubt as 2017 began, DiamondCorp wanted to put behind the ills of last year.
Why jewellers develop new cuts for diamonds
10 february 2017
(ft.com) - When shopping for jewels, rarely will you be sold a round diamond. Instead you will buy a round brilliant diamond — the additional adjective refers to a cut invented in 1919 by Marcel Tolkowsky, which changed the way diamonds sparkled and how jewellers marketed them. A century later, however, we are witnessing the emergence of a generation of new cuts. Tolkowsky’s modern round brilliant cut was revolutionary. With 58 facets plotted to ensure maximum light return, it offered a fire and brilliance — that play of rainbow colours and icy scintillation — unrivalled by older cuts. By the mid-century, most new diamond jewellery had moved to this style of faceting, according to the Gemological Institute of America. The round brilliant remained largely unchallenged until the turn of this century, when price wars caused by the emergence of online-only diamantaires offering rock-bottom prices forced innovation. High-street jewellers with expensive overheads could not compete on price in terms of carat, clarity and colour alone and so manufacturers decided to tweak the final of the Four Cs: the cut. They invented premium-branded stones that promised additional sparkle through extra facets.
Diamonds as big as a golf ball... now Gem Diamonds prepares to add polish
09 february 2017
(thisismoney.co.uk) - The vast majority of diamond engagement rings are less than a carat in weight but still look suitably impressive on a bride-to-be’s finger. The Letseng diamond mine in Lesotho is in another category. Renowned for producing the most spectacular stones in the world, its finds include seven weighing between 300 and 600 carats in the past decade, the biggest of which were larger than a golf ball. And it routinely finds diamonds of 25 carats and above – well beyond the reach of even the most ardent groom. Letseng is owned by Gem Diamonds and it operates at the rarefied end of the market, selling stones to the ultra-rich in discreet tender operations held eight times a year in Antwerp, Belgium. The firm was tipped by Midas in July 2014 at 192p. Today, the stock is 116¼p, having fallen to below 100p in the early part of last year. Shareholders have been let down, but prospects are looking up and the stock should gain ground considerably over the next year and beyond.
From Tulips to Diamonds – Transparency
08 february 2017
(ehudlaniado.com) - If I had to guess, I would say that those who bought into the Tulip Mania of the 1630s in the Netherlands had some information on the tulip bulbs they bought. However, in the era of Big Data, there is a lot more available information, and that makes buying an asset a very different kind of affair. In the past two articles, I argued that to create a market of diamonds as a wealth preservation asset, we need a number of things to happen. First and foremost, we need to reach a critical mass of believers. A group of people interested in diamonds, and confident that whichever diamond they buy, they will find a buyer who will purchase the asset from them, paying them a premium, just as we do already with other assets. This group needs to be large enough to create resell value, which will in turn create demand and form a market. For all this to happen, we will need a critical mass of believers who will keep the value of traded diamonds sustainable. Another essential component is education. Education may include museum programs that display diamonds, and discuss how they are formed, polished, traded and used. Another venue is schools, where science classes at elementary schools discuss volcanic eruptions, which is a pre-requisite for diamonds appearing on the surface of the planet. Kids should know that diamonds are rare natural creations, formed at the depth of the planet over millions and even billions of years, and pushed to the surface by volcanic activity. I also pointed out that auction houses provide information on fancy color diamonds on sale to educate potential buyers, and called on the industry to expand this educational effort. Without widespread education, there would be no widespread appreciation for art, and without that, a critical mass would not have been formed to create an art market – the same goes for diamonds.
