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
The Year That Hindered Growth
29 december 2022
(rapaport.com) - This year will be remembered for the impact that geopolitical and economic developments had on all industries, while parts of the world were still contending with Covid-19. The diamond trade is no exception. Fresh off a bumper 2021, which saw stellar gains in all segments of the pipeline, the market experienced the effects of the Russia-Ukraine war, US economic caution and the slowdown in China. Those factors affected supply and demand, disrupting the growth experienced in 2021. Polished diamond prices declined, with the RapNet Diamond Index (RAPI™) for 1-carat stones down 9.9% for the year to date until December 15. The index slid 3.1% in November and a further 0.6% in the first two week of December.
In Shaky Market, Small Diamonds Are Winning
28 december 2022
(rapaport.com) - Melee goods — and the rough that produces them — are outperforming larger sizes due to strong luxury demand and a supply squeeze. Inflation, rising interest rates, lockdowns in China: The diamond industry is facing diverse forces that, by and large, have had a negative effect on the market. Major mid-market retailers in the US are warning of depressed consumer sentiment, while dealers are barely making sales to the Chinese mainland. The high end is stronger, mostly because the wealthy are less affected by the financial strain and are enticed by glamorous brands. This might make it intuitive that larger diamonds, being rarer and more expensive, would weather the storm better than their smaller, cheaper counterparts. However, the picture that’s emerging is more complicated. Polished from around 0.30 to 3 carats is weak, traders report. The exceptional stones are holding up, but the real movement is in melee.
Why are pink diamonds so popular? From multimillion-dollar sales with Sotheby’s Williamson Pink Star and Harry Winston’s gem to Graff – one of the rare jewels is even named after Grace of Monaco
27 december 2022
(scmp.com) - Pink diamonds have long been associated with love, romance and femininity. This, plus their great rarity, has given them revered status in the world of fancy-coloured diamonds – just consider the flurry of bids from around the world when one appeared at auction in Hong Kong this autumn. It didn’t hurt that it was the Williamson Pink Star, “one of the purest, pinkest diamonds”, according to Sotheby’s. The 11.15-carat stone fetched an eye-watering US$57.7 million in October. But no one seemed surprised. “We estimate that only one in every 10,000 diamonds found is a coloured diamond, but not necessarily a pink,” said Arnaud Bastien, president and chief executive, Graff Diamonds, Asia.
‘Ocean diamonds’ offer buyers chance to leave environment sparkling
26 december 2022
(newsinfo.inquirer.net) - So-called third diamonds, which divers harvest from the ocean floor, are set to make full-on landfall in Japan. Such diamonds are scraped from diamond mines by erosion from rain or wind before being washed to the ocean. They are expected to attract attention as “ocean diamonds” due to their low environmental impact, unlike mined or synthetic diamonds.
Average engagement ring spending up 50%
23 december 2022
(professionaljeweller.com) - Award-winning Hatton Garden store, Daniel Christopher Jewellery, has reported that average engagement ring spending in the capital is up by 50% this year in comparison with 2021.
The average spend in 2021 ranged between £4,000-£6,000. This average has increased by 50% in 2022 to £8,000-£10,000, in spite of the cost of living crisis. Diamond expert and Daniel Christopher Jewellery owner, Daniel O’Farrell attributes the increase to the fact that more couples now buy a ring together and have usually spent time researching their perfect ring online before visiting a store to buy.
