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
Financial Times - De Beers Diamond Company Woos Safe Haven Investors
13 july 2009
De Beers has launched a global campaign to convince investors that diamonds are an alternative to gold as a safe-haven investment, writes The Financial Times.
Ethical jewels
10 july 2009
Glittering rubies from Mogok, vivid emeralds from the Panjsher Valley, gold all the way from Serra Pelada — time was when fables of gems and precious metals coming from far-flung corners of the earth were imbued with thrilling thoughts of romance and derring-do. Today, we know it's much more complicated. The 2006 movie Blood Diamond, starring Leonardo DiCaprio, brought the issue of conflict diamonds to the forefront of public consciousness. The diamond industry was ahead of Hollywood, having set up the Kimberley Process Certification Scheme, which tracks gems from mine to retailer, but the trade in colored stones can still be murky.
Bulgari Faces Difficult Turnaround
09 july 2009
According to Associated Press, Bulgari celebrated its 125th anniversary with a retrospective that pulled together more than 500 one-of-a-kind pieces, including baubles collected by Elizabeth Taylor — but it's the future that is more worrying. The Italian maker of luxury jewels posted its first quarterly loss in a decade this year, with analysts expressing concern over whether it is in a position to cut costs dramatically enough to survive the economic slowdown.
Trends in Russia’s Jewelry Industry
08 july 2009
The Guild of Jewelers of Russia has sent a letter to Vladimir Putin, Russian Prime Minister, asking the state to back up the jewelry industry. The letter said that starting from January 2009 jewelry production slumped. “If this trend will continue, in several months it will result in a shortage of Russian made jewelry in retail trade which will bring about an increase in illicit traffic of jewelry to the Russian market,” the Guild warned.
Analyst: Luxury Sales to Start Rebounding in 2011
07 july 2009
Luxury merchants shouldn't expect affluent shoppers to go back to splurging anytime soon, says Claudia D'Arpizio, partner and luxury goods expert at consulting company Bain & Co. The company, in fact, anticipates that the global luxury business will not fully rebound until 2012. That means a wave of consolidation in the luxury industry over the next year.
