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
Navel gazing
25 february 2016
(polishedprices.com) - Why shouldn’t producers sell on a continuous basis as and when various goods are available rather than having to wait for everything to be available. Why not sell the goods by individual mine rather than going for mixes? As diamonds fight against losing even more ground to other luxuries let alone other commodities, could not the whole issue of provenance be used as a powerful marketing inducement. Selling by mine would also stop cross subsidisation from mine to mine, that might work, for example, in particular for Namibian’s high quality but marginal production. This in turn might make producers look harder at the numbers of individual mines and prevent the hiding some of their more costly mistakes, i.e., Snap Lake which everyone knew was a dog when it opened, indeed everyone knew it should not have been opened but too much ego had been invested in it. An added rationale for this would be to put a premium on higher quality mines, which often have lower grades.
Bots-De Beers deal faces uncertain future
24 february 2016
(The Southern Times) - The partnership between Botswana Government and diamond giant De Beers faces an uncertain future with opposition parties in the country making repeated calls that it should be terminated. Leaders of main opposition Umbrella for Democratic Change (UDC) say there is need to reconsider the relationship between the Southern African country and De Beers. It is not the first time the opposition has hinted at ending the long running deal between Botswana and De Beers.
Make In India: We are looking at direct sale of diamonds to India, says Alrosa's Andrey Zharkov
20 february 2016
(The Economic Times) - Andrey Zharkov, the president of Alrosa, one of world's largest diamond mining companies, expects diamond prices to remain subdued this year, despite a marginal pick-up in demand. In an interview with ET, he said prices in emerging markets like India and Russia would surge on account of the local currency weakening, which could weaken demand.
Signet Unveils Protocol for Responsible Diamond Sourcing
20 february 2016
(Rapaport News) - Signet Jewelers launched a responsible diamond sourcing protocol that it claims will increase transparency and improve the integrity of the global supply chain. The U.S.-based jeweler, the world’s largest retailer of diamond jewelry, developed the Signet Responsible Sourcing Protocol for Diamonds (D-SRSP) with input from exporters in the diamond industry, civil society and governments, according to a statement February 16. These included miners De Beers, Rio Tinto and Dominion Diamond Corporation.
Russia’s Far Eastern Diamond Cluster
19 february 2016
Establishing a diamond exchange in Vladivostok will improve the competitiveness of diamond-mining, diamond-cutting and jewelry industries of the area. The Far Eastern Diamond Cluster will be an inter-regional and inter-industry cluster. Diamond output in Yakutia is expected to go down to 32-33 million carats in 2016-2017 due to a slowdown in the economy and weaker demand for rough in the world. Still, Yakutia will account for the bulk of Russia's diamond production. This will allow ALROSA Group to maintain the existing level of prices for rough diamonds in the global diamond market, and generally maintain flat its overall rough sales in US dollars, while increasing its sales in rubles. Creation of a diamond exchange in Vladivostok will provide additional opportunities for diamond manufacturers in Yakutia to increase sales and attract investments.
