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...
Yesterday
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...
Yesterday
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...
Yesterday
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.
Yesterday
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.
Yesterday
Bumper or Bump?
09 april 2015
(PolishedPrices) - Liquidity has been and is still a major if not all consuming issue. The insouciance with which De Beers treated this subject in their annual results presentations is seriously coming back to haunt them. Prices for what small amounts of polished which have been sold, despite the dramatic cut back in production, have weakened and in some areas quite dramatically. Whilst De Beers and other producers seem to think that there is room for more price increases it would appear that the Russians have lowered prices. Maybe something dramatic will pull the situation out of the fire, but I simply do not comprehend how any producer cannot recognise the gravity of the situation.
Refusals, Strops, Contracts and Conspiracies – A Rough Market Review
08 april 2015
(edahngolan.com) - The news broken yesterday that a group of leading Israeli diamond companies took on the Rapaport Price List, posting diamonds on the RapNet trading platform at full prices only, and that a similar step had been taken by a number of Indian diamond companies may be a sign of an impending pivotal shift in the diamond industry, especially taking into account the rejection of 30% of rough goods offered by De Beers to manufacturers at its sight last March. It appears that mid-stream companies started to push both ways to break the impasse they got stranded in for quite a while. If the situation around the Rapaport Price List is yet to be assessed and interpreted, Edahn Golan of Edahn Golan Diamond Research & Data gives his view on what is happening on the rough side of the market in his report below.
Timeless De Beers buys priceless time for Anglo
07 april 2015
(miningmx.com) – Shareholders in Anglo American will be heartened by data from its 85%-owned subsidiary, De Beers, last month that showed record diamond jewellery demand in 2014 of $81bn. The diamond miner and marketer comprised 42% of Anglo American’s earnings last year and is tipped to become the foundation of the UK miners’ earnings this year at a time when Anglo continues to restructure some $4bn worth of assets, mostly through trade sales.
Realigning Inventory
06 april 2015
(Rapaport) - The middle of the diamond distribution chain is struggling to align itself with new, lower levels of wholesale demand. The result is that manufacturers and polished diamond dealers continue to be squeezed despite growth in consumer demand. Therefore, recent reports about record diamond jewelry demand and strong diamond price growth in 2014 were somewhat misleading. They did not account for the imbalances currently at play in the diamond market.
Barclays Said to Lend to Diamond Dealers in African Expansion
03 april 2015
(Bloomberg) - Barclays Plc has started lending to diamond dealers as the British bank seeks to expand in southern Africa, according to people familiar with the situation. The U.K.-based bank is financing buyers of rough stones in Botswana and South Africa, the people said, asking not to be identified as the move hasn’t been made public.
