News
India tightens standards for gold
India’s new "Good Delivery Gold" standard system establishes requirements for responsible sourcing and traceability. The Gem and Jewellery Export Promotion Council (GJEPC) has called for the swift adoption and international recognition of these standards...
Today
Orion Minerals secures $40m Glencore financing for Prieska mine development
Orion Minerals has secured $40 million in Tranche A financing from Glencore for its flagship Prieska Copper Zinc Mine in South Africa's Northern Cape, after the funding became unconditional following the execution of final concentrate offtake and intercreditor...
Today
De Beers' Q3 output falls 11%, assumes full ownership of Gahcho Kue
Anglo American has reported an 11% decrease in De Beers’ rough diamond production for the third quarter of 2026, down to 6.8 million carats compared to 7.7 million carats in the same period last year.
Today
Critical Metals gets formal approval for Tanbreez rare earth mine from Greenland authorities
US-based Critical Metals Corp. has announced that its flagship Tanbreez rare earth project has received formal mining plan and closure plan approvals from the government of Greenland, paving the way for a 24-year mine life.
Today
Kyrgyzstan begun construction of a $556 million gold mining complex
The project is being implemented by Chaarat ZAAV, a joint venture between Canada’s Silvercorp Metals (70 %) and the state owned Kyrgyzaltyn (30 %). According to Silvercorp Metals’ calculations, once it reaches its design capacity, the enterprise will...
Yesterday
Surat is back to work amid new hopes and old apprehensions
15 march 2016
After facing a drastic decline in 2015, polished prices in India slowly recovered, bringing back good cheer to the Indian market. Inventories of polished diamonds are presently lower than normal in the Indian market. Recently, there was recorded a price increase for the first time. The concluded Signature IIGS 2016 indicated the polished market was picking up after polished diamond prices witnessed a continuous decline last year. But are we celebrating too early, given that the past has taught lessons of going cautious, as rough supply is not under control anymore?
Survival Mode: Why The Diamond Industry’s Credit Addiction is Leading Us Down the Wrong Path
14 march 2016
(ehudlaniado.com) - Allow me to state my view plainly: the large number of rough diamonds purchased from the main rough diamond miners in the last two months (January and February) were not purchased for the purpose of long-term growth. Nor is this phenomenon a response to any great polished diamond demand. The leading driver of this demand is survivalism.
Diamonds to snap back, says Standard Bank
11 march 2016
(miningnews.net) - The diamond industry’s ability to adapt to demand means it will be one of the first commodity markets to recover, according to Tim Clark, head of metals and mining research at Standard Bank. Presenting at the Mines and Money conference in London, Clark said: “We think the market participants in the diamond market are far more rational than in some other commodity markets, where we have noted a drop down to deep levels of the cost curve and a significant amount of pain that could potentially continue for a very significant amount of time as mines take a very long time to close, if they close at all.”
The Millennial Consumer And Diamonds — Time We Told A Different Story?
09 march 2016
(GemKonnect) - When Frances Gerety coined the phrase “A Diamond Is Forever” for De Beers in 1947, she couldn’t possibly have predicted the speed at which society would change. The era of Elizabeth Taylor-like icons dripping in record-breaking diamonds has gone, only to be replaced by different perceptions of what it means to be wealthy. Whereas golden treasures may have once fit the bill, they are now deemed crass — reserved for the likes of Floyd Mayweather while other famous names build their own eco-empires or chair charities. For a young consumer beginning to make his or her own financial decisions, these cultural touch-points have made them think differently about luxury purchases, jewellery included.
Time to snatch up stones
04 march 2016
(Rossiiskaya Gazeta) - Foreign companies will be allowed to buy Russian large-size diamonds at auctions held by Gokhran. Relevant amendments have been drafted by Russia’s Ministry of Finance. Experts note that making the community of diamond buyers wider is a forced measure, which had to be taken due to a sharp drop in demand and prices for rough. As it follows from the new version of regulations for the sale of special-size diamonds weighing 10.8 carats and above in the domestic market, foreign companies operating in this country will be admitted to take part in such auctions. The Ministry of Finance clarified to RG that it is obligatory for diamond auction bidders to be entities resident in Russia for tax purposes.
