News
Saudi oil companies to engage in lithium production
The Saudi oilfield services company National Energy Services Reunited has announced that its specialized division, NESR Environmental and Decarbonisation Applications (NEDA), has entered into an agreement with the national oil and gas monopoly Aramco...
Today
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
Has De Beers Unveiled Deep KP Mistake? Russia & Dubai on the Rise
07 september 2015
(edahngolan.com) - The return from the summer break has been anything but smooth. While the focus has been on the Sights, there are other issues, such as long-term trends, that are becoming clearer as we dive deeper into the current crisis. After initially posting mistaken numbers, the Kimberley Process Certification Scheme (KP) published its rough diamond production, import and export figures for 2014. These figures are full of surprises, underscoring some of the changes the global diamond market is growing through. They point to changes in the importance of certain diamond centers, and that has an impact on the entire pipeline.
Antwerp and Diamonds: A Rocky Love Story
04 september 2015
(ehudlaniado.com) - The history of Antwerp's diamond industry starts in the early 1500s, when rough diamonds arriving from India were brought first to the city of Bruges and then to Antwerp, where they were polished and set in jewelry for nobility and rich traders. An important turning point for diamond polishing was when in 1456, Lodewyk van Berken invented the Scaif, a polishing wheel infused with a mixture of oil and diamond dust. For the first time, it was possible to polish all the facets of the diamond symmetrically at angles that reflected the light in ways never seen before.
Adopt cash system to curb recession in diamond industry: SP Shah
03 september 2015
(The Times of India) - Diamond industry stalwart and chairman of the world's top diamond company, Venus Jewels, Sevantibhai Shah has advised the diamond manufacturers to banish the long-term credit system and adopt cash transaction to bring out the Indian diamond industry from the jaws of the ongoing recession.
Key Changes Offer Bright Future for Diamond Industry
02 september 2015
(ehudlaniado.com) - In previous articles, I have argued that in light of the current crisis, the diamond sector will never return to its earlier structure. Even if we manage to solve the current problems (i.e. high cost of rough diamonds, profit margins, inventory, marketing etc.) in the foreseeable future, these will be only temporary solutions. In my opinion, these same problems are sure to rise again in due course. All this leads me to the conclusion that there is a need for deep, fundamental change in the industry. Only a dramatic change will stabilize the diamond trade and make it profitable.
Sightholders React to Price Cuts at $250M Sight
01 september 2015
(Rapaport) - De Beers sightholders had mixed reactions to the price cuts at last week’s sight, which had an estimate value of $250 million before any additional supply was offered. The company dropped its rough diamond prices by an average of 8 percent to 10 percent, which spurred demand for additional goods during the week. Paul Rowley, De Beers head of global sightholder services, told Rapaport News that the company’s strategy has been to limit supply as there has been an overhang of inventory in the market from 2014. Sightholders, meanwhile, said they don’t expect the company to reduce prices again this year, even if they felt the drop was not far reaching enough.
