News
Tharisa meets FY2026 guidance, Karo Platinum fully funded as net debt swings to $51m
Tharisa has reported full-year production in line with guidance for both platinum group metals (PGMs) and chrome concentrates, while confirming its Karo Platinum project in Zimbabwe is now fully funded following a $300 million bond issue.
Today
Israel’s diamond sector poised for revival following tax reforms and De Beers comeback
De Beers, one of the world's major diamond market players, has announced the resumption of its operations in Israel after a nine-year absence, which became the latest sign of revival of the diamond industry in the country.
Today
Kefi Gold and Copper restarts Tulu Kapi development after safety review
Kefi Gold and Copper has resumed development at its Tulu Kapi gold project in Ethiopia following a suspension that began on September 7 after a serious safety incident three days earlier.
Today
Nornickel implements smart melt monitoring system
Norilsk Nickel has installed a smart melt monitoring system at its metallurgical plant in Norilsk in collaboration with Reksoft. The system uses computer vision to assist the converter operator in identifying phases during the tapping process.
Today
ALROSA to help amplify Arctic agenda at UN
In preparation for the 31st UN Climate Change Conference (COP31), ALROSA experts and other stakeholders from Russia discussed a unified approach to strengthening the country’s position and the Arctic agenda at UN climate conferences.
Today
Africa: Why Africa Bleeds Diamond Revenues
08 march 2023
(allafrica.com) - Africa holds mineral wealth with diverse commodities that are sought after the world over. In the diamond industry, revenues elude local communities despite multilateral certification measures. In diamond-rich parts of Africa, the revenue generated from mineral extraction does little to improve of the quality of life of the people who live in those countries, with Botswana being the only exception. Instead of uplifting communities through mineral riches, many people find themselves stuck in a vicious cycle of exploitation and abuse. DW asked diamond industry insiders and experts why the extraction of the gemstones fails to result in local socio-economic benefits in other African countries.
De Beers Examining “All Options” for Forevermark
07 march 2023
(jckonline.com) - De Beers is considering a range of possibilities as it ponders the future of its Forevermark diamond brand, chief financial officer Sarah Kuijlaars tells JCK following the release of the company’s 2022 financial results. “We are interested in finding the most effective model for retail and how we engage with our end clients and consumers,” she says. “I think it’s a model that we’ll have to evolve because consumers are evolving.” Asked whether Forevermark’s current wholesale model will continue, she says, “We’re looking at all options about how we can grow the downstream part of the business and grow it profitably.”
Love is blind for Europeans buying Russian diamonds
06 march 2023
(politico.eu) - The import of rough Russian diamonds is not sanctioned by the EU, despite repeated calls to take action from Ukraine and some EU countries.
The Case For Exceptional Diamonds Remains Despite Recent Volatility
06 march 2023
(gjepc.org) - Diamond analyst Paul Zimnisky reports that the momentary let-up in the expectational stone market may be partly due to the volatile global macro-economic conditions affecting buyer confidence and purchasing power. Nevertheless, the long-term value of diamonds as a tangible and rare asset remains strong, and the market is expected to rebound as the global economy stabilises.
Russian Diamond Exports Increased, Stats Show
03 march 2023
(jckonline.com) - Despite U.S. sanctions, Russian diamond sales rose, according to Kimberley Process (KP) statistics for the first half of 2022. In the second quarter of 2022 (April through June), Russian rough diamond exports were $1.11 billion, compared with $1.01 billion in the first quarter of 2022, and $1.09 billion in the second quarter of 2021. Those totals include both gem and industrial diamonds. No data was available for the third and fourth quarters of 2022, though preliminary third-quarter numbers also show an increase, says a source.
