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
Chrome prices to weaken but China stimulus could offset deterioration, says Tharisa
26 july 2022
(miningmx.com) - Chrome prices were expected to “retreat” in the current quarter following a slowdown in world economic activity, although there was the possibility of declines being offset by China stimulus, said Tharisa, the chrome and platinum group metals (PGMs) producer. Commenting in its third quarter last week, the UK listed firm reported a 39.5% quarter-on-quarter increase in the chrome price to $247/t. Coupled with a relatively strong average PGM price and sustained PGM production Tharisa produced a solid three months. Net cash increased to $48m after paying out the interim dividend of $8.8m which compares to a closing net cash balance of $25.9m in the previous quarter.
Global Diamond Production +12% in 2021 – But Really Declining
25 july 2022
(edahngolan.com) - Global diamond production increased 11.9% to 120 million carats in 2021. Usually, a rise in production indicates improved activity in the diamond industry. However, last year’s production fell short compared to 2019, and it was one of the lowest production levels in more than a decade. According to the latest data from the Kimberley Process (KP), the total declared value of exports from diamond-producing countries was $13.99 billion. KP tracked production from twenty-two countries, down from twenty-four in 2020 and 2019. Except for diamond production in 2020, the volume of production last year was the lowest since 2009. In contrast, the total declared value of production was relatively high, as prices of rough diamonds soared last year, and the average value of global diamond production reached a record high – $116.53 per carat.
PTM suggests it will circumvent Implats’ right of first refusal over Waterberg JV metal
22 july 2022
(miningmx.com) - Platinum Group Metals (PTM) said on Thursday it might circumvent a right of first refusal Impala Platinum (Implats) has over raw metal the Canadian firm produces from its proposed Waterberg Joint Venture. Implats has a 15% stake in the project but in 2020 declined to exercise a control option saying it had other uses for its capital. Implats has, however, a first right of refusal to treat concentrate produced from Waterberg JV. Lenders have told PTM an offtake agreement is critical before they can consider financing the project.
How a 910ct. Rough Became a Sparkling Van Cleef Collection
21 july 2022
(diamonds.net) - The Baselworld fair has received much criticism in recent years, but one of the final shows before its public implosion appears to have facilitated a diamond deal that counts among the biggest in history. Antwerp-based manufacturers Taché and Samir Gems came to the March 2018 exhibition with the exquisite Lesotho Legend, a 910-carat, type IIa diamond they had bought together from Gem Diamonds for $40 million earlier that month. At the time, jewelers such as Graff and Harry Winston dominated the big-stone market. Displaying the massive rough at the prestigious Swiss event could help drum up broader interest in the category, Taché and Samir believed.
Nickel Prices Plummet To 6-Month Low
20 july 2022
(oilprice.com) - According to a recent Bloomberg report, the man behind the historic March nickel squeeze walked away from the crisis with an estimated loss of $1 billion. To most, that figure sounds almost unimaginable. However, it’s a far cry from the more than $10 billion loss he faced when nickel prices surged past $100,000/mt. Instead, Xiang Guangda, owner of mining and steelmaking company Tsingshan Holding Group, managed to close out nearly all of his short positions almost four months later.
