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
Setting the Record Straight on AI
12 october 2022
(diamonds.net) - Although artificial intelligence (AI) has been around for decades, many of the ways in which it works remain murky in the eyes of much of the world. And while that is not a problem for technology companies or labs such as the Gemological Institute of America (GIA), it can be for many consumers. The industry continues to make strides in using AI for a number of diamond-related advancements, including mining, cutting, polishing and grading. But when it comes to consumer-facing segments of the industry, such as diamond grading, several myths prevail that could ultimately harm the trust bond that’s so important to the trade. And like most myths, what people believe to be true and what the truth is can often be two very different things.
Rare ‘fancy vivid pink’ diamond sells for £52m in Hong Kong auction
11 october 2022
(theguardian.com) - An extremely rare “fancy vivid pink” diamond has sold for 453m Hong Kong dollars (£52m) – more than double its estimated price – and set a world record for the highest price per carat for a diamond sold at auction. The 11.15-carat Williamson Pink Star diamond, which is named after another pink diamond given to Queen Elizabeth II as a wedding gift, was sold to an undisclosed buyer at auction by Sotheby’s Hong Kong on Friday. Tobias Kormind, the managing director of London jewellery shop 77 Diamonds, said the stone’s link to the late monarch is likely to have helped elevate its value.
How a Ban on Russia’s Mining Giants Could Shake the Metals World
10 october 2022
(bloomberg.com) - A possible ban on Russian supplies by the London Metal Exchange would be a seismic event for the metals industry, cutting some of the world’s biggest companies off from the main global marketplace. The exchange has yet to make a decision, but on Thursday launched a formal three-week discussion process on the possibility of banning Russian metal, potentially as soon as next month. In practice, a ban would simply mean that metal from Russia — which accounts for about 9% of global nickel production, 5% of aluminum and 4% of copper — could no longer be delivered into any warehouses around the world in the LME network, which store metal used to deliver against futures contracts when they expire.
India’s Younger Generations Could Be A Boon For Global Diamond Demand
07 october 2022
() - India, and its population of 1.4 billion people, currently represents 15-20% of global jewellery demand, excluding bullion, and 5-10% of global diamond jewellery demand specifically, according to Paul Zimnisky estimates. Notably, diamonds are expected to play larger a role is India’s consumer market going forward. Zimnisky estimates that at current growth rates, India and China combined could outpace the US in terms of global diamond jewellery sales by next decade – including both natural and man-made stones.
COLUMN-London Metal Exchange ducks Russian sanctions pressure: Andy Home
06 october 2022
(nasdaq.com) - It's clear the London Metal Exchange (LME) isn't going to be rushed into any decision on whether to continue accepting Russian metal against its contracts. A discussion paper on the possibility of suspending Russian brands is "an option currently under active consideration," it said. But the exchange hasn't actually decided yet whether to issue such a paper.
