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
Automakers are embarking on an array of strategies to secure supply of the critical minerals they will need for electric vehicles
04 april 2022
(insideclimatenews.org) - After the nickel market goes haywire, the United States and its allies launch a critical minerals energy security plan, with stockpiling an option.
Cartier and other Richemont labels leave Responsible Jewellery Council
01 april 2022
(fxempire.com) - Cartier-owner Richemont has stepped down from the Responsible Jewellery Council (RJC) after the industry body had failed to cut ties with Russia, Richemont chief financial officer Burkhart Grund told reporters at the Watches and Wonders watchmakers industry fair Wednesday.
The $140 Billion Question: Can Russia Sell Its Huge Gold Pile?
01 april 2022
(bloomberg.com) - Russia spent years building a giant stash of gold, an asset that central banks can turn to during a crisis. But any attempt to sell it will now be a challenge just when it’s needed most. Bank of Russia expanded its gold reserves almost sixfold since the mid-2000s, creating the world’s fifth-biggest stockpile that’s valued at about $140 billion. It’s the type of asset it could sell to shore up the ruble, which has plunged as global economies isolate Russia following its invasion of Ukraine. Doing so will be difficult. Sanctions forbid U.S., U.K. and European Union institutions from doing business with Russia’s central bank. Traders and banks are wary of buying the country’s bullion indirectly or using other currencies out of fear of reputational damage or falling foul of penalties. And senators in Washington want secondary sanctions on anyone buying or selling Russian gold.
Belgium braces for Zelenskyy’s fury over Russian diamonds
31 march 2022
(politico.eu) - Diamonds are not Belgium's best friend. In fact, the precious stones are putting the country in line for a tongue-lashing from Ukrainian President Volodymyr Zelenskyy. Zelenskyy will address the Belgian parliament on Thursday, and has developed a formidable reputation for tackling uncomfortable truths head-on, whether that means accusing the Germans of favoring business interests over ethics or flatly questioning whose side Hungarian Prime Minister Viktor Orbán is taking in the war. When it comes to Belgium, parliamentarians are braced for the former comedian to zero in on the continued import of Russian rough diamonds to the Belgian city of Antwerp — a trade that enriches Alrosa, a partially state-owned enterprise. The diamonds may not be funding the war to the same extent as Europe's continued purchase of oil and gas, but they are hardly something Zelenskyy can afford to ignore.
Russian sanctions could boost conflict-free, lab-grown diamonds
30 march 2022
(qz.com) - The US’s ban on Russian diamonds is burnishing the appeal of lab-grown stones. Russia contributes nearly a third of the global natural diamond supply, according to the US Treasury, with around 90% of Russian production coming from state-backed Alrosa, the world’s largest diamond mining company. Industry experts are expecting a two-digit jump in diamond prices in coming months—and a boost in sales of lab-grown stones.
