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
India’s Demonetization Impacts Diamond Industry. But Is This Change For The Better?
16 december 2016
(ehudlaniado.com) - On November 8, in a drive to fight undeclared money, corruption and counterfeiting, the Prime Minister of India, Narendra Modi, made a surprise announcement: that the country’s 500 and 1000 rupee notes of the Mahatma Gandhi Series will removed from circulation and will no longer be considered legal tender. The move sent shockwaves throughout the country and has impacted, among other sectors of the economy, the diamond industry. A surprise outcome of the demonetization move was a drop in interest rates. According to the State Bank of India, it reduced interest rates on deposits of more than one year. SBI Chairman Arundhati Bhattacharya expects that “all rates will fall” because of the large inflow of cash and the slowdown in demand for credit. The impact of cheaper lending for the diamond center in Mumbai is that diamond traders may find it easier to purchase rough. The question is will they do so, considering the drop in demand. The impact on other business activities is not yet clear. The Reserve Bank of India estimates that some 3 trillion rupees ($44 billion) will be taken out of India’s economy, as many holding undeclared bank notes cannot find a solution for their illegal cash. This will lead to a large contraction of the economy. From our perspective, any change that helps improve an economy is welcome. I can only hope that the demonetization will not disable the Indian diamond center, but will instead help it to reduce bank lending, decrease rough purchases as the consumer market cools, and generally find a path to healthier trading.
Tax Man to Target Diamond Business
15 december 2016
(hamodia.com) - Armed with new and improved powers of investigation and enforcement, the Tax Authority is set to aggressively go after tax cheats beginning on January 1st, officials said in the end of November. And according to Authority chairman Moshe Asher, one of the main targets of the Authority will be diamond merchants.
Four Fashion Watch Brands Exit Baselworld
14 december 2016
(forbes.com) - The Timex Group Swiss Luxury Division—which manages the watch business for luxury fashion brands Salvatore Ferragamo, Versace, Versus and Nautica through licensing agreements—is the latest company to leave the Baselworld watch and jewelry show. Paolo Marai, president and CEO of the division of the Timex Group, in an exclusive interview, said the $3 million investment into the show could be better spent in other areas of its global business. The four brands occupied Hall 1.1, the second floor of the hall dedicated to “global” watch and jewelry brands. “I think that Baselworld is a huge investment for everybody and is in my opinion losing some effectiveness,” he said. “It used to be very important in different levels. First, it was a good opportunity to meet journalists but they’re coming less and less to Baselworld. And even those who come are reducing the time they are staying—running from one appointment to the next.” He continued, “Second, in the past we used to meet a lot of retailers. This year not one single country sent retailers. So what you meet in Baselworld are distributors. But we know the distributors. I don’t need to go to Baselworld for that.” Marai says the changing luxury business demands that luxury brands, particularly fashion brands, need to be closer to the consumer. He argues Baselworld, based in Basel, Switzerland, isn’t an efficient way to do this.
In-Store Holiday Shopping Is a Valued Holiday Tradition, Americans Say
13 december 2016
(jckonline.com) - Citi Retail Services has commissioned a survey on American holiday shopping attitudes and reports that in-person shopping is an integral holiday tradition for most Americans.
Americans view shopping in stores as an essential holiday tradition, and 95 percent plan to buy at least one gift from a brick-and-mortar store this holiday season. The survey also revealed that 52 percent of holiday gifts will be purchased in-store, rather than online. In the survey, 75 percent of Americans believe that shopping in brick-and-mortar stores is one of the best ways to get into the holiday spirit. Some 58 percent said that online shopping takes some of the fun out of holiday shopping.
With Undisclosed Synthetic Diamonds, the Situation Is Still Uncertain
12 december 2016
(jckonline.com) - At the U.S. Jewelry Council forum on Undisclosed Synthetic Diamonds, held at the Waldorf Astoria in New York City on Nov. 1, National Jeweler’s Michelle Graff and I were given the task of summarizing the day’s events and prescribing takeaways. But that wasn’t easy to do. If anything became clear during the day’s worth of presentations, it’s that the situation with undisclosed lab-grown diamonds remains very unclear. We know undisclosed stones are out there. We don’t know how many. And there is no easy way to spot them.
