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
Botswana: Revival of the Mine-to-Finger Model
08 june 2022
(idexonline.com) - The President of Botswana, Mokgweetsi Masisi, speaking at a gala dinner in Gaborone, declared that "he no longer wished to operate under any model other than the one set up by Lucara and HB Antwerp." (Africa Intelligence April 7th, 2022). President Masisi referred to the seemingly endless, five-year negotiations between De Beers and Botswana about prolonging their joint sales operations, that were not finalized till today. His decisive declaration means that either De Beers would follow Lucara - HB's model, or we could be surprised soon by an historic move by HB, that might take over a substantial and the most prestigious chunk of De Beers' diamond sales.
De Beers Hikes Small Diamond Prices as Sanctions Cause Shortages
07 june 2022
(bloomberg.com) - De Beers has raised the price of smaller diamonds as sanctions on its Russian rival creates a growing shortage of some stones. The price of small rough diamonds, the type that would end up clustered around the solitaire stone in a ring, has surged since the start of March as cutters, polishers and traders struggle to source supply after the US levied sanctions on Russia’s Alrosa PJSC, which accounts for about a third of global production. De Beers raised the prices of smaller stones by between 5% and 7% at its sale this week in Botswana, according to people familiar who asked not to be identified because the information is private. Even after the price rises, there is strong demand for the goods, the people said.
Russian diamonds stay at home
06 june 2022
(kommersant.ru) - Russia has reduced exports of diamonds to key markets - India and Europe. Sanctions imposed on ALROSA allow it to supply rough diamonds to India, but there are problems with payment. The restrictions exacerbated the already existing shortage of diamonds in the world market, so that the drop in incomes of Russian producers was largely offset by rising prices. At the same time, analysts are confident that problems with transport and financial logistics will eventually be resolved and a serious drop in ALROSA's production should not be expected.
Israel Signs Trade Deal With U.A.E.
06 june 2022
(nytimes.com) - Government ministers from Israel and the United Arab Emirates signed a free-trade agreement on Tuesday that, once ratified, would be the widest-ranging deal of its kind between Israel and an Arab country and the latest example of deepening ties between the Jewish state and some Arab governments. The text of the deal has yet to be published and is still subject to review by the Israeli Parliament and formal ratification by the Israeli government, a process that will take at least two weeks. But officials said that once confirmed, the agreement would loosen restrictions on almost all trade between the two countries and could increase its annual value 10-fold within five years. According to the Israeli government, the deal will enhance the trade of medicine, medical equipment, food, plastic goods and fertilizer, as well as Israeli jewelry.
The Jewellery Industry Pushes Omni-channel as Brick-and-Mortar Goes Digital and E-commerce Goes Physical
03 june 2022
(gjepc.org) - During an analyst call earlier this year, North American jewellery-conglomerate, Signet Jewelers, said that 80% of the company’s sales take place inside its 2,800+ physical stores, however 65% of customers visit at least one of the company’s “digital sites” during their shopping journey. Customers researching online and then buying in-store, is an example of what the downstream refers to “omni-channel” retail, essentially an integration of the digital and physical shopping experience. Signet management has described this approach as a way to “stay close to our customers (at all times),” which became especially relevant during the pandemic-related lockdowns in 2020 and 2021.
