News
South Africa mining output falls 12.7% in August on weak PGMs, coal and iron ore
South Africa's mining output declined 12.7% year-on-year in August, according to Statistics South Africa, with platinum group metals, coal, and iron ore accounting for the largest negative contributions.
Today
Aterian expands copper footprint at Azrar project in Morocco
Aterian has identified multiple copper showings and substantially expanded the known mineralisation footprint at the Amane Target of its 85%-owned Azrar Copper-Silver project in Morocco, following initial exploration fieldwork.
Today
Russia’s Ministry of Natural Resources identifies region with largest platinum and palladium deposits
Russia retains second place globally in terms of platinum and palladium reserves, while the largest deposits of these metals are concentrated in Krasnoyarsk Territory, according to the Russian Ministry of Natural Resources.
Today
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
COMMENT: “Ukraine will never join NATO”. Five simple words we refused to say. Are we now about to double down on our mistake?
23 march 2022
It's easy now to claim Putin was always going to invade Ukraine and that unless the West stood up to him, this would simply be the first step in rebuilding the Soviet empire. But maybe it’s much simpler than that; maybe, having ignored his security concerns for so long, we (the West), chose to call his bluff, and he wasn’t bluffing. Maybe we are at least partly responsible for this mess.
Automakers and other companies that need nickel have begun looking for ways to shield themselves against future shocks - nytimes.com
22 march 2022
(nytimes.com) - The price of nickel doubled in one day last week, prompting the London Metal Exchange to freeze trading and effectively bring the global nickel market to a standstill. After two years of supply chain chaos caused by the pandemic, the episode provided more evidence of how geopolitical tensions are destroying trading relationships that companies once took for granted, forcing them to rethink where they get the parts and metals they use to make cars and many other products. Automakers and other companies that need nickel, as well as other battery raw materials like lithium or cobalt, have begun looking for ways to shield themselves against future shocks.
Ukraine Crisis Leaves Diamond Industry Vulnerable
21 march 2022
(diamonds.net) - While it’s too early to understand the full impact of the crisis, the longer it goes on, the deeper its effect will be on the market. “Alrosa was added to a list of menu-based sanctions but not added to the Specially Designated Nationals List,” the Jewelers Vigilance Committee (JVC) explained. “Effectively, this action bans US businesses and persons from entering into debt transactions longer than 14 days with Alrosa but does not impose the harsher sanctions of an asset freeze and outright prohibition of all business.” The sanctions may affect the miner’s polished-diamond business and its attempts to build a branded jewelry line in the US. It may have lost goodwill in that market. Under the regulations, a retailer cannot take polished or jewelry on memo from the supplier. Transactions would need to be in cash, while Alrosa’s rough is generally sold on a cash basis anyway. The miner said it intended to fulfill its obligations to clients as usual, as best it can.
Alrosa Closes U.S. Office After Rebecca Foerster Resigns
18 march 2022
(jckonline.com) - With tension between the United States and Russia continuing to grow, Alrosa has said it will close down its U.S. office by the end of April, Alrosa USA president Rebecca Foerster tells JCK. Foerster, a respected industry veteran, resigned her position on March 10, prior to the decision to close the office. “It was the right time to step down, with the geopolitical situation being what is,” she says.
Jumping on the NFT train
18 march 2022
(diamonds.net) - No longer the preserve of the initiated few, non-fungible tokens (NFTs) made headlines in the international press during 2021 and are set to attract growing interest in the coming years. Sportswear giant Adidas, luxury brands Louis Vuitton and Gucci, and auction houses Christie’s and Sotheby’s are some of the household names that have embraced this often inscrutable new technology.
