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
Traditional Trade or Speculation?
08 february 2016
(ehudlaniado.com) - Prices of rough diamonds rose in the past few weeks. This is common knowledge, gleaned by traders, from talk in the market, or from reports about rising demand and premiums paid by buyers. What is that pushed prices up? Was it strong consumer demand or were there other factors? Was this business as usual, prices responding to demand? Or was speculation driving prices?
Activist Investors Are Mostly Terrible, and I Hope Dominion Diamond Ignores Them
05 february 2016
(jckonline.com) - In the last few weeks, a group of investors, led by Toronto-based K2 & Associates, has grabbed 5.4 percent of Dominion Diamond, becoming the latest activist investor to target a company in our industry. K2’s public criticism of the Canadian diamond miner’s management seemed to spark a flurry of announcements: K2 portfolio manager Josef Vejvoda joined the board, two directors resigned, and its respected longtime chairman Bob Gannicott stepped down. (Gannicott has had health issues.) The company is also exploring a possible sale, Bloomberg says. In theory, activist investors would seem to be a positive force. They give the business a pair of fresh eyes. They often target bloated executive salaries and perks. In reality, their track record is decidedly mixed.
Alrosa Said to Double Planned Diamond Sale in Extended Offer
04 february 2016
(Bloomberg) - Alrosa PJSC extended its January diamond offering and is set to sell about double the amount originally planned, boosting supplies to the market, according to two people with knowledge of the matter. Russia’s state-backed producer will probably sell $450 million to $500 million in its first sale of the year, said the people, who asked not to be identified because the information is private. The sale has lasted longer than the typical 10 days, the people said.
Bain: Chinese Luxury Spending Shifts Further Abroad with 2% Domestic Decline
04 february 2016
(The Jing Daily) - After heading into the red last year amidst a market slowdown, China’s luxury market decline sunk even further in 2015, according to Bain & Company’s annual industry report. As Chinese consumers continued to opt to make their luxury purchases abroad, Bain found that the value of mainland China’s luxury market declined by 2 percent to 113 billion RMB in 2015. The decline was driven by large slumps in men’s watches, clothing, and leather goods, says the report. The bright spot for the global luxury industry remains Chinese spending overseas.
Diamond Sector Outlook: Nothing is forever…
03 february 2016
(insights.abnamro.nl) - The diamond industry is at a cross-road. There are strong forces that could lead to change in the industry. In this report we show that change is not new to the industry. In addition, we define two crucial forces that will have a lasting impact on the industry in the coming years. The industry seems to have moved from a win-win situation to a zero-sum game. Given the oligopolistic structure on the mining side of the industry, rough prices have remained relatively high compared to polished prices and end demand has disappointed. This has squeezed the middle man, such as manufacturers, rough diamond traders and polish diamond traders. As a result, the middle segment is pushing back at the producers. What happens next depends on their response. They can limit production. This will work, but, eventually stronger price competition and more transparency appear inevitable.
