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
China’s Online Shoppers Spend 176 Percent More per Purchase on Cross-Border E-Commerce
14 december 2015
(Jing Daily) - As a growing number of retailers across the world make it easier for Chinese consumers to buy items from abroad online, a new Nielsen survey finds that China’s online shoppers are willing to spend significantly more on their cross-border purchases than they are on domestic goods. While Chinese online shoppers currently spend less overall on shopping abroad than they do domestically, they’re buying a high volume of cheaper items at home and investing in big-ticket purchases abroad, according to the report. Luxury is especially poised to benefit from this trends.
Why Share the Mercury Diamond Polished Price List?
11 december 2015
(ehudlaniado.com) - In recent years diamond industry professionals have raised concerns about the diamond benchmark lists currently available in the market. For example, on several occasions this year for example, benchmark lists have published increases in prices at times where diamonds have continued transacting at low prices. I wish to highlight in more details how the Mercury Diamond Price List™, a transaction-based price list which was made available for the first time last month, can be used in practice and can benefit the industry by providing more transparency to diamond pricing.
It's All Gone Wrong for One of World's Biggest Mining Companies
10 december 2015
(Bloomberg Business) - Even for a company that once had the global monopoly on diamond production during almost a century of all but constant expansion, the collapse in commodities prices is proving too much. Anglo American Plc, a conglomerate spanning everything from brewing, publishing and gold mining during its peak in the early 1990s, will shrink beyond recognition after Chief Executive Officer Mark Cutifani on Tuesday announced an eye-watering package of asset sales, mine closures and job cuts.
Danse macabre
09 december 2015
(Polished Prices) - I don’t think anyone can argue that the industry is not in a real pickle, so given that common ground, the next question where is it going to go to now?
Diamonds & Rust
08 december 2015
Why India's diamond industry is facing its worst crisis ever
(Business Today) - Two main reasons are cited. First, in recent years, Indian manufacturers misjudged the potential of the market. "They went on an expansion spree," says Sevanti Shah, Chairman, Venus Jewels, one of the biggest sellers of solitaires in the world, with sales of $362 million in 2011. "Projecting artificial demand, they kept buying more and more roughs and increasing production. This encouraged diamond mining companies to mine more and increase the price of roughs. There was oversupply in the market, which led to the prices of polished diamonds falling and manufacturers bleeding." The second reason was banks, which readily went along with the manufacturers' mistaken estimate, providing the capital for large diamond imports.
