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
Diamond diggers in South Africa's deserted mines break the law — and risk their lives
12 december 2022
(npr.org) - Bracing against the vibrations of the jackhammer, illicit diamond miner Jefferson Ncube bores steadily into the rock face before him, sending chunks of dry stone clattering to the ground and filling the air with a cloud of pale gray dust. He's 30 feet below the surface of the desert in the Namaqualand region of South Africa in a tunnel barely tall enough to crawl through. "I don't enjoy this at all, but I need the money," says Ncube, who holds a degree in agricultural science from the University of Pretoria but says he has been unable to find work elsewhere. "I have a family to support, a wife and a 1-year-old child." The Nuttabooi mine, near the coastal town of Kleinzee, was once mined by the diamond giant, De Beers, the largest of dozens of industrial mining operators who, for the best part of a century, formed the backbone of the region's economy. But over the past 20 years, rising operational costs and a dwindling supply of diamonds have made large-scale industrial mining increasingly unviable. The sector's steady decline has left a legacy of chronic unemployment in Namaqualand but has also created opportunities for a growing number of desperate young men and women willing to tolerate hardships and dangers as they eke out a living in abandoned mines.
The Watchmaster Heist
09 december 2022
(idexonline.com) - It's a heist that could prove to be bigger than the Hatton Garden safe deposit raid in 2015. Raiders managed to get through a 1.75-meter thick steel door at a vault in Berlin, crack the security codes and overcome a fog alarm. They escaped with 1,000 luxury watches being stored for Watchmaster, one of Europe's largest pre-owned watch traders. Many of the watches were Rolex, Patek Philippe, Omega, Audemars Piguet and Breitling, and the majority belonged to customers who were hoping to sell them.
A tale of two diamond hubs
08 december 2022
() - This past summer, the Gemological Institute of America (GIA) shut its Antwerp laboratory and announced plans to open a new location in Dubai. The organization insisted that the two decisions were unconnected. However, to the observer, the move was a telling indication of the diamond industry’s trajectory in Belgium and the United Arab Emirates (UAE). Dubai’s trade has enjoyed sharp growth since the Covid-19 pandemic. Last year’s rough exports surged 98% over 2020’s to $12.96 billion, which was 62% higher than 2019’s figure, according to the Dubai Multi Commodities Centre (DMCC). Polished exports were up 70% year on year at $4.15 billion — though this was still well behind Antwerp — and gained 6% compared with 2019. And while the DMCC has not yet published detailed data for 2022, it did report a 14% year-on-year increase in its first-half rough imports and exports combined, for a total of $13.05 billion. Meanwhile, Belgium’s 2021 rough exports grew by a more modest 64% year on year to $11.12 billion, according to the Antwerp World Diamond Centre (AWDC). This put it behind the UAE for the first time. Compared with 2019, exports were up 21%. The AWDC has not released further data since January 2022, when rough exports rose 24% year on year to $953.8 million.
50% of Luxury Brands Will Disappear By 2030. What Are The Key Risks?
07 december 2022
() - It’s not beauty or craftsmanship that drives the value of a brand, but how it can transform an individual. For luxury houses, this means one thing: get your story straight. Recently, I had a meeting with an influential government official on how to enhance the positioning of his country. During the talk he had a fascinating question: if he wanted to elevate the global perception of his country to one with a luxury proposition, what would be the main risks? What I loved about this question is twofold. First, anything can be positioned as luxury once we gain clarity on what makes something luxurious, whether it is a service, a product, or a country. Second, there are significant implications, which need to be managed.
Despite Dour Sentiment, Diamond Demand Could Surprise As 2022 Draws To A Close
06 december 2022
(gjepc.org) - A couple of weeks into the all-important Holiday Season, diamond analyst Paul Zimnisky examines diamond demand going into the year-end. Global inflation, which has reached multi-decade highs this year, as well as expectations for a potentially severe economic slowdown, is impacting the discretionary spending of diamond consumers.
