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
Strange Bedfellows: Diamonds, Blockchain and ESG
13 may 2022
(luxuo.com) - You have visited a jewellery store online and a diamond ring caught your attention, curious as to how it will look on your hand, you make your way to the store to have a look at the piece. The diamond ring is of the highest quality: in terms of cut, colour and fire and brilliance; but when you ask about the origins of the diamond, the salesperson can’t give you a proper answer of where these gemstones were sourced from. They could very well be blood diamonds — mined in an area where there is war or fighting, and are sold to fund armed conflicts. To curb the proliferation of blood diamonds and its associated impact, a certification process was introduced in 2003: The Kimberley Process (KP). It is a multilateral trade regime put into commitment by governments, civil society and the wider industry, with the goal of preventing the flow of conflict diamonds. At the core of the process is the Kimberley Process Certification Scheme (KPCS), under which countries implement safeguards on shipments of rough diamonds and certify them as “conflict free”.
Diamond Prices Are Spiking and Even De Beers Can’t Fill the Gap
12 may 2022
(bloomberg.com) - (bloomberg.com) - Prices are surging in some corners of the rough-diamond market, as sanctions on one of the world’s two giant miners ripple through the supply chain. In the past, the industry could turn to behemoth De Beers to crank out extra gems when supply ran tight — but not this time. The price of a small rough diamond, the type that would end up clustered around the solitaire stone in a ring, has jumped about 20% since the start of March, according to people familiar with the matter. The reason: Diamond cutters, polishers and traders are struggling to source stones after the US levied sanctions on De Beers’s Russian rival, Alrosa PJSC, which accounts for about a third of global production.
Current Russian Diamond Sanction Rules “Murky,” JVC Says
12 may 2022
(jckonline.com) - The current sanctions on Russian diamonds have created a “murky situation” for the industry, Jewelers Vigilance Committee (JVC) president and CEO Tiffany Stevens and deputy general counsel Sara Yood said during an April 26 seminar at the American Gem Society Conclave in Oklahoma City. On April 8, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) put Alrosa on its Specially Designated Nationals (SDN) list, which means no U.S. company can have dealings with the Russian diamond miner. But it’s still not clear if that designation will impact U.S. companies whose overseas parents may have dealings with Alrosa.
5 Tips for Navigating Hard Luxury in China
11 may 2022
(jingdaily.com) - The sparkle has returned to hard luxury in China. According to Bain, jewelry and high-end watch spending has increased by about 35 percent and 30 percent, respectively in 2021. Growth obviously varies across brands, but Swiss watch exports reported strong growth in 2021 (48.8 percent over 2019). It is this market momentum that reflects changing dynamics within the hard luxury category: its transformation is disrupting traditional brand-consumer relationships. Clearly, this is a wake-up call for jewelry and watch companies to align best practice with a market reality in rapid flux.
Unintended consequences of U.S. dollar 'weaponization': here's how gold and Bitcoin utilize the moment
10 may 2022
(kitco.com) - Are we witnessing a reversal in globalization? What are some unintended consequences of sanctions against Russia and the weaponization of the world's reserve currency — the U.S. dollar? With uncertainty still the dominant theme going into the second quarter of 2022, the main beneficiaries in this environment are safe-haven assets like gold and Bitcoin as the search for diversification becomes a priority for countries, institutions, and individual investors, according to analysts.
