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
Japan Rises as Asia’s Leader for Chinese Luxury Spending Growth
23 november 2015
(Jing Daily) - As mainland China’s luxury consumers continue to shun once-favorite shopping destination Hong Kong, Japan has emerged as a key locale for Chinese traveler-driven sales growth in 2015. Recently, Hermès reported that Japan was the source of its highest sales growth rate globally in the third quarter with a 16.6 percent increase. In contrast, its Asia-Pacific sales excluding Japan declined 1.5 percent, which the brand said was thanks in large part to a continued retail slump in Hong Kong and Macau.
Natural and Lab-made: A Tale of Economic Diversion
20 november 2015
(ehudlaniado.com) - The long history of diamonds, which we have covered here over the past few weeks, has been the exclusive story of natural diamonds – nature’s beautiful creation. However, what about those diamonds not created by nature? And more importantly, what about their value? And does it endure over time?
Buying diamonds this festive season? Bigger is better
19 november 2015
(MineWeb) - The global diamond industry appears to be in a precarious position with weak consumer demand, a supply overhang and a credit crunch among rough diamond traders weighing on prices. According to various reports, rough diamond prices have decreased more than 12% this year alone. The RapNet Diamond Index reveals prices for polished stones between 0.3 ct. and 3 ct. and reveals how prices have plummeted between January 1 and November 1 this year. Similarly, data from PriceScope shows the average price of stones between 0 and 0.5 ct. is now lower than at any point during the financial crisis.
Beautiful Diamonds that Sell in Any Market
18 november 2015
(Rapaport) - The hype surrounding Sotheby’s and Christie’s auctions in Geneva last week created a buzz in the diamond trade that is otherwise starved for excitement. Sotheby’s on Wednesday sold a cushion shape, 12.03-carat, fancy vivid blue, IF diamond for $48.5 million, or $4 million per carat, setting a new record for any diamond, or jewel, sold at auction, according to the auction house. The day before, Christie’s sold a cushion, 16.08-carat, fancy vivid pink, VVS2 diamond for $28.5 million, or $1.8 million per carat, which that auction house said was a world record for a fancy vivid pink diamond sold at auction.
De Beers Refuses Its Own Rough Diamonds: A Tipping Point?
17 november 2015
(Diamond Loupe) - Diamond industry analyst Chaim Even-Zohar has published an analysis of the steps that led to, and the potential results of, De Beers' (DB) deferral of contractually obligated purchases from its own rough supplier in Botswana - Debswana (DW). Even-Zohar suggests that DB, and the industry as a whole, has reached a tipping point: the producers must decide to either "defend" rough prices at their current level and "starve' the rough diamond supply market so it can reduce its inventory overhang, or let rough prices fall even further in the hope of achieving immediate profitability (vs. 2014 prices, DB's prices are recently -15%, Alrosa -8%, Petra -9%, others 5-10%). Even-Zohar clearly believes the former option is likely as well as preferable.
