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.
Yesterday
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.
Yesterday
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.
Yesterday
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.
Yesterday
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.
Yesterday
Global Natural Diamond Supply to be Rangebound Despite Volatile Demand in Recent Years
26 october 2022
(gjepc.org) - Despite coming off of a record 2021 for natural diamond demand, mined diamond supply for 2022 is expected to fall in line with that of last year. For context, Paul Zimnisky estimates that global natural diamond supply was approximately 117 million rough carats last year, with the same expected this year. This compares to as much as 140 million carats in 2019, over 150 million carats in 2017 and almost 180 million carats in 2005 – which is estimated to be the all-time-high watermark for production. This downtrend in supply can mostly be attributed to apathetic diamond prices last decade that in effect hindered appetite for new project exploration and development. Consequently, supply at legacy mines has fallen off in recent years while very limited new sources of diamonds have not been sufficient to offset the declines.
How Much Jewelry was Sold? A Massive $11.5B Less Then Believed
25 october 2022
(edahngolan.com) - We all know 2021 was the best year ever for jewelry sales, with US sales soaring like never before, but how much jewelry was sold in total? As always, the US government provides the figures – and a year later, it always revises them. This time around, like most, the figures were revised down. And in some areas, the downward revisions were drastic. The US Department of Commerce, Bureau of Economic Analysis provides the most important source of US jewelry sales. It collects data from tax reports, open sources, and by surveys. A sizeable chunk of this data is derived from a number of assumptions. As more data comes in, the data gets revisited, and the value of how much jewelry was sold gets restated.
De Beers to Offer Sweeter Terms as Diamond Market Shows Strain
24 october 2022
(bloomberg.com) - De Beers told its diamond buyers they can purchase stones on sweetened terms at its next sale, in the first sign the market is slowing after a bonanza that started during the global pandemic. The diamond industry was one of the surprise winners as the world economy rebounded from the first effects of the pandemic. Consumer demand for diamond jewelry grew strongly last year, while supply remained constrained. That’s now starting to unravel. Alrosa started quietly selling again in the summer and stones from Russia have continued to flow. At the same time, Chinese demand has been hit by Covid-19 lockdowns, while surging inflation threatens wider consumer demand in the US and Europe. De Beers responded on Friday by telling customers in a memo that it would be doubling the size of its so-called buyback process, according to people familiar with the situation.
Platinum really is forever
21 october 2022
(news.wsu.edu) - Scientists at WSU’s Institute for Shock Physics discovered something unexpected when they tested humankind’s most valuable metals to see how much pressure they could take. It turns out platinum is the only precious metal that retains its atomic structure when subjected to the kind of pressure found at the center of planet Earth, holding up better than gold.
What Jewelers Can Learn from Luxury Giants
20 october 2022
(diamonds.net) - LVMH head Bernard Arnault famously said that “luxury goods are the only area in which it is possible to make luxury margins.” But what does it actually take to shed the commodity tag and position a product firmly as luxury? More importantly, how can we apply this to the diamond and jewelry industry?
