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
Supreme dollar rules the roost in gold market
11 january 2023
(chof360.com) - The Fed’s fight against inflation is expected to shape sentiment in precious metals markets next year. The Russian invasion of Ukraine, rising inflation, COVID-19 restrictions and slowing growth made for a mixed 2022 for precious metals. Spot gold at $1,821.50 an ounce at 19:28 GMT is on track to finish 2022 about 0.4% lower. This past year, during the early days of the Ukraine crisis, precious metal came very close to reaching its all-time highs of over $2,000 in 2020 as countries around the world went into lockdown. The US currency’s climb to 20-year highs this year has eroded demand for dollar-priced bullion, which has fallen by $250 since its peak in March.
Central banks bought 400 tonnes of gold in Q3. Is this really a hidden message for investors?
10 january 2023
(economictimes.indiatimes.com) - News of recent purchases created a stir in the gold market – not only because of the volume of almost 400 tonnes during the third quarter of this year but also because most of it could not be allocated to a specific central bank. The only identifiable purchases came from India (17t), Turkey (31t), and Uzbekistan (26t).
Petra facing squeeze on cash flow as Williamson cost adds to dampened consumer demand
09 january 2023
(miningmx.com) - Petra Diamonds was facing a significant reduction in free cash flow in 2023 owing to an increase in capital expenditure and the cost of suspending production at Williamson mine in Tanzania where there was a breach in a tailings dam. Free cash flow was forecast to be $12m next year compared to $213m in Petra’s 2022 financial year, said BMO Capital Markets analyst Raj Ray in a report this month.
Platinum group metals 2023: Economic and industrial factors
04 january 2023
(recyclingtoday.com) - A number of economic and industrial factors affect the price of platinum group metals (PGMs), namely platinum, palladium and rhodium, and subsequently the price of scrap catalytic converters. From an investment perspective, precious metals are noninterest-bearing assets. Investors sometimes will add precious metals to their portfolios as a hedge against inflation because they increase in value as the purchasing power of the dollar declines. Price volatility and the opportunity cost of other investments that compound and yield interest plus logistical considerations pose a downside to holding physical metal.
Curious Tale of the "Spiritually Cleansed" Diamond
30 december 2022
(idexonline.com) - It's one thing when one of the world's most valuable diamonds is mysteriously pulled from auction. It's quite another when it turns out the reason is an allegation that the 13.15-carat fancy vivid pink gem had been sent from Qatar to the USA, to be "spiritually cleansed" by an online psychic. They do say that fact is stranger than fiction.
