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
How Gatekeepers Can Turn Loss into Profit (Part 2)
23 october 2015
(ehudlaniado.com) – The current manner of pricing rough diamonds is out of touch with the product that it eventually yields. A change is needed now, and it includes having access to high quality data about real transaction prices. Hand in hand, the market should adopt a new mindset of taking charge of its destiny by determining the real-time maximum they can afford to pay for rough before losing profitability once again.
How the Gatekeepers Can Turn Losses to Profits (Part 1)
22 october 2015
(ehudlaniado.com) – If the diamond pipeline’s midstream is the gatekeeper of rough diamond prices for the entire diamond industry, then what tools should it use for evaluating prices and how should it use those tools? It is time to dig deeper into this issue. The current manner of pricing rough diamonds is out of touch with the product that this raw material is yielding. A change is needed now, before the market improves and the mining sector once again pushes $16.5 billion of rough that is not supported by real transaction prices on the wholesale level.
Anglo dividend policy questioned, again
21 october 2015
(miningmx) – Attention has fallen again on whether Anglo American will be able to meet its dividend payment commitments for both the current financial year, which ends December 31, and that of the next in 2016. Anglo doesn’t have net debt of $30bn, as per Glencore (net debt was $12.9bn as of June 30), but worringly its listed subsidiaries – Kumba Iron Ore and Anglo American Platinum – have debt covenants with banks. This means that were the ratio of debt to pre-tax earnings to breach a certain level, banks would have the right to call in loan agreements, or most likely restructure them.
Slump in Oil Prices Forces Angola to Low-Ball on Diamond Market
20 october 2015
(Windhoek Observer) - Global oil prices will fluctuate between US$40 and US$50 per barrel until the end of the year, at best, according to Reuters (oil prices in 2012 were USD$112.00 per barrel). The low oil prices have a highly negative bearing on the budgets of oil producing countries that have not diversified their oil-revenue based economies, especially developing countries. For Angola, where more than half of the population lives on US$2 a day, the crumbling of oil prices – which until recently had been a major source of replenishment for the country’s budget – may mean an outburst of political turbulence resulting in unpredictable corollaries.
The Lesson of Sight 8: No Need for More Rough
19 october 2015
(edahngolan.com) - There is a wide range of estimates about the value of the goods De Beers offered this cycle. Be it $350 or $500 million, very little was purchased. A current estimate puts actual purchases by Sightholders at $150-$200 million, underscoring that the diamond industry is not seeking rough.
