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
‘Unprecedented’ rainfall dampens Tharisa first quarter chrome and PGM mine output
09 february 2023
(miningmx.com) - Unprecedented rainfall hampered production from Tharisa’s platinum group metal (PGM) and chrome mine in the first quarter, the Johannesburg-listed group said in an update in January. Tharisa mines from an open pit in South Africa’s North West province where rainfall in the first quarter was 27% higher compared to previous years. Phoevos Pouroulis, CEO of Tharisa said open pit flexibility had consequently been “compromised”. The impact of rain is reflected in a 17.7% decline in quarter-on-quarter reef mined. However, Tharisa supplemented run-of-mine production with stockpiled material. As a result, first quarter production of PGMs and chrome concentrate came in 5.7% and eight percent lower at 42,7000 ounces and 383,000 tons of concentrate respectively.
U.S. Seeks to Tighten Rules on Russian Diamonds
08 february 2023
(jckonline.com) - The United States is looking to tighten its regulations on Russian diamonds — and eliminate the rule that allows the importation of Russian-mined diamonds cut and polished elsewhere. Belgian officials who spoke with Politico said that the European Union and United States hope to develop a “‘watertight’ traceability system” for diamonds as a way to limit Russian gems. But people who have spoken with U.S. and EU officials believe they are seeking a traceability requirement, where the onus would be on importers to prove their diamonds didn’t come from a Russian mine. If enacted, it would mean that U.S. companies could only import diamonds if they have proof of their non-Russian origin.
Lab-Diamond Sales Grow as Prices Fall
07 february 2023
(paulzimnisky.com) - Lab-grown diamond jewelry demand grew an estimated 38% to $12B in 2022, however like-for-like prices retreated by an estimated 20% —a trend that likely continues into 2023.
Amplats sells 31% less PGMs in fourth quarter in characteristic end to problem-strewn year
06 february 2023
(miningmx.com) - Anglo American Platinum (Amplats) today reported 883,400 ounces in fourth quarter platinum group metal (PGM) sales – a 31% year-on-year decline that is characteristic of a difficult 2022 for the Anglo American company.
Gold to surge through $2,000/oz as US rates outlook provides lift
06 february 2023
(miningmx.com) - Gold is tipped to surge through $2,000 per ounce as macroeconomic headwinds that kept the metal in check last year are expected to ease. The macroeconomic backdrop is becoming “increasingly bullish for gold,” said Bank of America in a report on January 23. The bank said gold’s “diversifier” role in a portfolio was coming to the fore even though it wasn’t among the metals favoured in the globe’s push towards decarbonisation.
