News
De Beers transfers initial BWP 1 billion contribution to Botswana’s Diamonds for Development Fund
De Beers has transferred its initial BWP 1 billion ($73 million) contribution to the Diamonds for Development Fund, marking a major milestone for the initiative designed to support Botswana’s long-term economic diversification.
Today
Valterra Platinum's refined PGM output falls 41%, sales decline 27%
Valterra Platinum's refined platinum group metal (PGM) production decreased by 41% to 576,900 ounces for the third quarter ending 30 September 2026.
Today
Swiss watch exports rise 11.7% in September, driven by sharp U.S. shipments increase
In September, the value of Swiss watch exports grew by 11.7% compared to the same period last year, reaching 2.226 billion Swiss francs ($2.74 billion). This marks the fourth consecutive month of growth.
Today
New $1.8bn copper smelter under construction in Kazakhstan
Construction of the Aktogay copper smelter has begun in the Abai Region of eastern Kazakhstan. The $1.8 billion project is being implemented by the KAZ Minerals group.
Today
Anglo American appoints Anne Wade as senior independent director
Anglo American has appointed Anne Wade as senior independent director, effective immediately.
Today
Gold prices have consumers sticking to classics
28 october 2009
Coupled with the economic downturn, pricing volatility in the gold market has leveled a hard hit on gold jewelry sales. While 15 percent of National Jeweler's product panel members said higher gold prices have actually led to gold jewelry sales being up slightly in recent years, 23 percent said sales are down slightly, 12 percent said sales are down significantly and 50 percent said sales are flat.
China-Guinea deal highlights Africa business ties
27 october 2009
A $7 billion mining deal between Guinea's repressive military regime and a little-known Chinese company underscores China's full-throttle rush into Africa and its willingness to deal with brutal and corrupt governments.
Rapaport Market Report
26 october 2009
ALROSA continues to stun with its monthly sales figures, www.diamonds.net says. The company reported that it sold $355 million worth of diamonds in October, $255 million of which was sold to the market. Issues with selling to state depository Gokhran aside, ALROSA sold more during the month than De Beers.
Can the Shopping Gene Be Reactivated?
23 october 2009
A while ago, there was an interesting discussion on whether consumer behavior will change following the recession, www.jckonline.com says. A worth-reading take on this comes from this New York Times magazine “fashion” feature (warning: annoying website), which interviews neurophycisists about how people’s brains react in response to luxury goods. There’s definitely been a change, says researcher George Lewis.
Tiffany Pursues Diamond Sales of Fallen Competitors
22 october 2009
Tiffany Co. sees an unprecedented opportunity to grab market share from jewelers that have succumbed to recession, and some analysts predict the stock will jump higher as the chain wins clients from fallen rivals.
