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
Platinum to move into deficit in 2023 as supply constraints weigh on miners
05 december 2022
(miningmx.com) - Platinum would record a long-anticipated deficit in 2023 as demand from automakers rebounded and supply from South African primary production remained constrained. Supply from Nornickel might also decline owing to a lack of spare parts availability, said Edward Sterck, head of research at the World Platinum Investment Council (WPIC). “The risk is on the downside. If machinery breaks, there’s a real chance Nornickel won’t be able to find replacement parts,” said Sterck referring to sanctions on the Russian firm.
Sparkling Venetia underground diamond project heading for first production in 2023
02 december 2022
(miningweekly.com) - A visit by Mining Weekly to the Venetia Underground Project (VUP) on November 14 provided far-reaching insight into this major diamond development that is scheduled to achieve occupational readiness and first production next year – "hopefully in the first part of the year, all going well", said VUP project director Allan Rodel. "We had a setback recently with some of our visa approval processes, which has caused some challenges, but we’ll overcome them," Rodel added. Venetia, South Africa’s largest diamond producer, is located some 32 km south of the Limpopo river, not far from the borders of Botswana and Zimbabwe, and is about 500 km from Johannesburg.
A Lab-Grown Diamond Shakeout May Be Coming
01 december 2022
(jckonline.com) - Even for a business where price drops are common, the lab-grown decreases this year have been particularly dramatic, especially after one large manufacturer lowered its rough prices. It’s now become common to hear dealers, particularly of goods with “tinges,” advertise diamonds at 95% or 96% off of the Rapaport list. (This is at a time when Rap prices are also falling.) One exhibitor at JCK Las Vegas even advertised 1 carat lab-growns for 100% off Rap—i.e., free—claiming he would make money on the mounting.
Gujarat Elections: Rough Ride of Surat’s Diamond Industry May Send BJP into Tizzy
30 november 2022
() - The Rs 4,000-crore industry in the port city of Gujarat is losing its sheen because of the “unprecedented” economic shock. It is not just Surat but Ahmedabad has also been feeling the chill. Over a few thousand of the units are either shutting down or reducing production.
How Much Are Consumers Spending on Engagement Rings?
29 november 2022
(diamonds.net) - Just like love, the diamond industry has giddy highs and despondent lows. After an initial pandemic-related decline in 2020, the overall business is seeing “a spectacular rebound,” according to Bain & Company’s Global Diamond Report, which came out in February. Throughout 2021, the study notes, revenue increased 62% in the mining segment, 55% in cutting and polishing, and 29% in diamond-jewelry retail. By the end of last year, prices for both rough and polished were almost back to pre-pandemic levels and historic averages, though analysts noted that the numbers were “still below their historic maximums,” says the report. Meanwhile, the personal-luxury market rose 35%.
