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
Shanghai's nickel twist risks more market fracture: Andy Home
22 september 2022
(marketscreener.com) - The London Metal Exchange's (LME) controversial suspension of its nickel contract in March didn't just impact trading in London. In the immediate aftermath of the LME intervention, the Shanghai Futures Exchange (ShFE) was forced to suspend its nickel contract for two days and has arguably suffered even greater damage. LME nickel volumes have unsurprisingly slumped since March with activity in August down 47% on the same month last year. But ShFE nickel volumes have fallen harder, collapsing 74% year-on-year in August and dropping by 70% over the first eight months of 2022.
Reduced Russia, scrap supply not enough to halt increase in platinum surplus for 2022
21 september 2022
(miningmx.com) - The World Platinum Investment Council (WPIC) increased its forecast platinum surplus for 2022 to 974,000 ounces following a second quarter surplus of 349,000 oz. The deterioration in the forecast came despite declines in metal supply from Russia and from the recycling sector which was affected by semi-conductor shortages.
After nearly going bust, the future couldn’t look any brighter for Gemfields
20 september 2022
(miningmx.com) - When three of South Africa’s wealthiest families engage in some discreet business dealings, it’s perhaps worth taking a second look. In September last year, Christo Wiese sold his 13.72% stake in Gemfields, a Johannesburg- and London-listed mining business founded by mining supremo Brian Gilbertson and now run by his son, Sean. The buyer was Assore, an investment company owned by the octogenarian geologist Des Sacco whose father, Guido, was a founder of South Africa’s manganese fields, dating back to the 1920s. What, though, is Assore doing establishing a beachhead in Gemfields, an investment it has since extended to 26.6%?
Russia’s Secret Gem Sales Are Dividing the Diamond World
19 september 2022
(bloomberg.com) - The secretive sale of Russian diamonds, worth hundreds of millions of dollars every month, is fracturing the global trade that stretches from cutting factories in Mumbai to luxury stores on New York’s Fifth Avenue. Many in the industry refuse to deal in Russian gems following the invasion of Ukraine and after mining giant Alrosa PJSC was hit with US sanctions. But there’s a handful of Indian and Belgian buyers who are snapping up large volumes at lucrative terms, getting to pick and choose the diamonds they need while others stay away. The deals are happening quietly, even for the famously secretive diamond world.
Russia is getting frozen out as traders negotiate metals contracts
16 september 2022
(mining.com) - The metals world is beginning its annual ritual of hashing out contracts for the upcoming year with one key question in many traders’ minds: What’s going to happen to Russian supplies? September marks the start of what’s known as “mating season,” when new contracts are negotiated, and traders and executives say there’s a growing unwillingness in western manufacturing hubs to receive new Russian metal.
