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
Buyers waiting for prices to fall: Demonetisation hits real estate market
12 december 2016
(business-standard.com) - Saturdays are typically busy at the sales office of Patel’s Planet, one of the many new apartment developments in the suburbs surrounding Mumbai where India’s fledgling middle class has been flocking in recent years. But last Saturday, it was virtually deserted. Prateek Patel, the cousin of the developer, complained that he hasn’t sold an apartment since early November, when Indian Prime Minister Narendra Modi shocked the country by announcing an unprecedented currency overhaul. Mr. Modi’s move took aim at the heart of India’s black-market economy by taking out of circulation existing 500- and 1,000-rupee bills in an effort to reduce corruption, counterfeiting and tax fraud. Much of the country’s real-estate transactions, particularly land and home sales, have been conducted on a largely cash basis to avoid taxes. With many buyers now on the sidelines, sales have evaporated and huge price discounts are expected when the market gets its bearings back.
Breaking Down KP’s Suggested Diamond Valuation System
09 december 2016
(edahngolan.com) - One of the key issues brought up for consideration of the Kimberley Process (KP) this year, was the suggestion to put in place a rough diamond valuation system. At its core, the idea is to find a way to determine if the values stated on rough parcels shipped internationally are reasonable. The suggested methodology proposes that rough diamonds be valuated based on converting known polished diamond prices into rough prices, taking into account manufacturers’ costs and margins. Much can be said about the pros and cons of having such a system in place. I feel that an important component of this discussion is the “how,” not only because it is an unknown to most, but it can also stimulate a wider discussion on valuation.
Lab-made diamonds are posing threat to the natural ones
08 december 2016
(businessinsider.com) - Lab-made, synthetic diamonds are becoming increasingly similar in quality, cut, and clarity to natural ones. Technological advances has resulted in their growing use and acceptance in industry – but cracking the luxury consumer market is the final frontier. An immediate threat that synthetic diamonds pose to the traditional industry is from those that are falsely marketed as natural. But this is a relatively manageable threat. The bigger threat comes from losing market share to consumers who might consciously choose synthetic diamonds over natural ones. The natural diamond industry is still suffering from increased awareness of “blood diamonds” – diamonds that have been used to finance conflict. The synthetic diamond industry has exploited this trust by marketing theirs as “conflict-free” and “ethical”. But there’s another issue, which cuts to the core of why diamonds are considered so valuable and are such a mainstay of the jewellery industry. It’s all to do with what people perceive to be valuable.
India's Attack on Cash
07 december 2016
(diamonds.net) - India’s shock decision to abolish its higher-denomination currency notes will curb jewelry sales and diamond trading next year. Industry pundits have forecast the unorganized jewelry sector will bear the brunt of a sharp drop in demand as cash – the lifeline of smaller players – has already become a scarce commodity. The government’s move to scrap INR 500 and INR 1,000 notes struck at the heart of India’s black market. With the volume of those high denominations rising by more than 70 percent in the last five years, the number of fake notes in circulation also soared. The size of the so-called parallel shadow economy grew to a whopping 23.2 percent of GDP in 2007, according to the latest 2010 World Bank survey on the issue. The demonetization program is aimed at curbing terror financing, smuggling of arms, drugs and the like, and especially to eliminate “black money” in the “parallel shadow economy,” the Finance Ministry explained.
Bain: Chinese Shoppers’ Share of Global Luxury Purchases Drops to 30%
06 december 2016
(jingdaily.com) - Even as China’s luxury market growth re-emerges into positive territory after two years of recession, 2016 marks the first time in history that Chinese consumers contributed less to global luxury sales than they did the year before, according to Bain & Company’s annual industry “Bain Luxury Study” report.
