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.
Yesterday
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.
Yesterday
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.
Yesterday
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.
Yesterday
Anglo American appoints Anne Wade as senior independent director
Anglo American has appointed Anne Wade as senior independent director, effective immediately.
Yesterday
Jewelry Industry and Economic Crisis
24 november 2008
So far
Russia Will Help
21 november 2008
The Russians are traditionally mentioned as the most promising customers able to help the luxury industry survive in rugged times. Nevertheless, this confidence in the permanence of Russian demand for diamonds on the part of representatives of the Western jewelry industry is never backed up by any full-fledged publications to this effect. However, this time such a view of Russian consumers has been partially explained.
Russian Jewelry Market: Growth Difficulties
20 november 2008
Petty jewelry vendors will soon leave the market making room for key players, believes the Ekonomika i Vremya, a Saint Petersburg weekly. During the past several years the Russian jewelry market has been busily growing, the experts state. Unlike the overall sales growth rate on this market in the world annually reaching about 4.5 percent, in Russia it swings between 25 and 30 percent a year, according to various estimates. Such a wonton growth of the jewelry industry is attributed to customers’ increased incomes, which appears a firm footing for developing production lines.
Bridal Jewelry Promo
17 november 2008
Blue Nile CEO Diane Irvine predicted a weaker demand for diamonds as consumers cut back on bridal jewelry.
Plans for Christmas Season
14 november 2008
The National Retail Federation said that financial pressures and a lack of confidence in the U.S. economy will result in a lower 2.2 percent increase in sales this holiday season. This is well below the 4.4 percent ten-year average.
