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
CORDER’S COLUMN: Winter is coming
09 november 2022
(watchpro.com) - It was a joy to be back in New York last week for WatchTime and the Wind-Up Watch Fair. Getting out of Manhattan to affluent commuter towns in Connecticut and Long Island was even more restorative as the leaves were turning to gold beneath bright blue autumn skies. But conversations with a number of brands and retailers left me in little doubt: winter is coming for the watch industry and, as tends to be the case in Game of Thrones, it could be a blood bath.
The Rich Are Living in a Different Economic World
08 november 2022
(bloomberg.com) - “Luxury is not a proxy for the general economy,” Jean-Jacques Guiony, chief financial officer of LVMH Moet Hennessy Louis Vuitton SE, said on October 11. He could not be more right. Browsing through the third-quarter trading update from LVMH, you would be forgiven for thinking the world wasn’t facing geopolitical turmoil, soaring inflation and sinking stock markets. The bling behemoth reported a 19% increase in sales, excluding mergers and acquisitions and currency movements, in the three months to Sept. 30. Fashion and leather goods organic revenue rose 22%. Both results trounced analysts’ expectations.
Could a $10trn-a-year green hydrogen economy boost platinum prices?
07 november 2022
(capital.com) - Platinum prices have risen almost 12% since the about 2-year lows seen at the beginning of September. At the time of writing, the metal was trading at about $934 per troy ounce. This was mainly due to a massive upswing in Chinese fuel cell electric vehicle production (FCEV), as indicated here by the World Platinum Investment Council. FCEVs run on renewable electricity produced by hydrogen fuel cells. Platinum is used in hydrogen electrolysers, which are key in deriving hydrogen’s zero emission applications, through the use of the proton exchange membrane (PEM) process. Recently, Andy Marsh, the CEO of Plug Power, a hydrogen fuel cell system development company, highlighted the potential of the platinum-linked green hydrogen economy potentially becoming worth about $10 trillion a year, accounting for 20% of global energy. This statement was made at the company’s recent green hydrogen symposium. If this scenario materializes, platinum prices could potentially see a huge boost in the long term as well.
Same Stone, New Cut, New Name
04 november 2022
(idexonline.com) - There are few diamonds with a story quite as colorful as The Golden Canary, formerly known as The Incomparable, formerly known as The Golden Giant. It was discarded early in the 1980s by diamond miners in the Democratic Republic of Congo, formerly known as Zaire, in a pile of rubble that was considered too bulky to be worth scanning for diamonds. The state-run miner Societé minière de Bakwanga (MIBA) literally threw it away. Thankfully the yellow gem was found by a young girl playing outside her uncle's house in the nearby town of Mbuji Mayi, in Kasai-Oriental Province. The rescued diamond is making headlines because, after being sold several times, then cut, then sold again and re-cut, it's now being sold again. For at least a dollar.
RBPlat to undershoot PGM production target as low morale, inflation, volatility hit hard
03 november 2022
(miningmx.com) - Royal Bafokeng Platinum’s (RBPlat’s) operational difficulties have worsened with the company saying in a third quarter update it would undershoot platinum group metal (PGM) production guidance and costs would be higher than budgeted as a consequence.
