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
Global Diamond Production Forecasted at 137M Cts in 2016
12 february 2016
(paulzimnisky.com) - A concerted effort by De Beers and Rio Tinto (LSE: RIO) to limit global diamond supply is forecast to be offset by stable Russian production, new mines, and production increases by Dominion Diamond Corp (TSX: DDC) and Petra Diamonds (LSE: PDL). Despite De Beers and Rio's efforts, 2016 global diamond production by-volume is forecast to be 137 million (M) carats, or +1.3% over 2015 estimates. However, the impact of strategic production cuts are more apparent on a value-produced basis, as curtailments at De Beers' high-value mines in particular, and lower diamond price offerings across the industry, reduce global diamond production by-value forecasts to $12.6 billion in 2016, or -10.0% relative to 2015 estimates.
Addressing diamond industry’s global crisis, AWDC to focus on financial innovation
11 february 2016
(awdc.be) - The Antwerp World Diamond Centre is turning to new technologies to meet the industry’s alternative financial services needs for international transactions. With a commitment to innovative new solutions for driving the industry forward, AWDC is starting a pilot program with two so-called FinTech companies to offer international transactions that are fast, transparent and instant.
Anglo engaging harshest critics, Indaba hears
10 february 2016
(miningweekly.com) - Anglo American is engaging with its harshest critics because they are often the best people to learn from, Anglo American CEO Mark Cutifani said during a panel discussion at the 2016 Investing in African Mining Indaba. Cutifani spoke of Anglo still having a lot of work to do to improve the lot of mineworkers and that the company had been developing a different approach with a number of church groups and indigenous groups. One of its initiatives began with the words “how can we help you?” and the company had put its social and labour plan on the website for all to access. “For us, making sure that we’ve got our relationships right, is key to being successful,” said Cutifani, who added that criticisms were taken seriously.
Diamonds...positive news?
10 february 2016
(linkedin.com) - Opinions on the current state of the diamond market vary greatly. De Beers finally sold a large quantity of rough... lowering prices by approximately 7%... and immediately industry sentiment became positive. Anglo American stock increased and commentators began predicting that the worst is over. If only business was that simple! De Beers is following the usual practice of decreasing diamond availability, decreasing prices and changing assortments. However, in the real world, diamond manufacturers have many reasons for buying De Beers rough and few bought as a result of consumer demand. Some say that manufacturers bought rough just to sell back into the secondary markets for a quick cash injection and in order to please their bankers. Consumer demand is not greatly improved and those involved in the diamond business should not over react to all this positive hype...world economic conditions have not changed and predictions are for an unstable 2016.
Rough Market Enthusiasm
09 february 2016
(Rapaport) - Demand for rough diamonds improved significantly in January, leaving many to wonder if the sudden upturn is sustainable. Manufacturers demanded more rough than was available as miners De Beers and ALROSA limited their respective supplies amid continued uncertainty in consumer demand. For the first time in many months, De Beers boxes sold at a premium on the secondary market after the sight. ALROSA, it was reported, also managed to sell all its goods in January, and prices on the auction circuit soared. But while sightholders were quick to point out that the market mood is currently “much more positive,” it is important that stakeholders are aware of the factors that have underpinned the sudden turnaround in rough diamond demand.
