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
On sanctions against Russia’s diamond trade
17 march 2022
(theglobeandmail.com) - Ian Smillie, a leader of the campaign to eradicate blood diamonds, in an article published by theglobeandmail.com on Western sanctions against Russia's diamond industry, writes: “Russia is one the world’s largest producers of rough diamonds. Most are exported, earning Russia about US$3-billion every year in the foreign exchange that is becoming scarcer as sanctions start to bite. More than 90 per cent of its diamonds are mined and exported by Alrosa, a publicly traded company that is one-third owned by the Russian government.” Noting that the White House on February 24 placed restrictions on the company's ability to raise money in the United States, the author believes that “next step should be to target Antwerp, where 80 per cent of the world’s rough diamonds, including those of Alrosa, are traded.”
Australia's diamond sector in recovery after near-record-low FY'21 exploration
16 march 2022
() - The Ellendale diamond operation in Western Australia once produced half the world's fancy yellow diamonds. Australia's geology has the potential for more discoveries, but exploration spending is coming off a very low base, experts say.
Russia sanctions threaten to backfire on the buck
15 march 2022
(asiatimes.com) - Japan and China tend to agree on very little when it comes to economic strategy, geopolitics or managing Western idiosyncrasies. Yet Joe Biden is bringing Tokyo and Beijing together on one issue: their combined US$2.4 trillion of US Treasury debt holdings that are now suddenly in doubt. At issue is the US president’s move to freeze a sizable portion of Russia’s foreign-exchange reserves.
The Future of Diamonds - the 5th Dubai Diamond Conference
14 march 2022
A fortnight after the event, R&P’s special envoy Ya’akov Almor looks back with a critical eye at the event’s discussions.
LBMA’s Fear of Stoking the Russian Bear – From ETF Concerns to Monetary Mayhem
11 march 2022
(bullionstar.com) - Last week on 24 February when the UK Government introduced a raft of sanction against Russian banks and Russian oligarchs, the cogs in the UK financial system began moving with British financial institutions rushing to distance themselves from the Russian financial sector. With gold as the ultimate reserve assets of the Bank of Russia, and with London a critical hub in the global gold market through the London Bullion Market Association (LBMA) and its famous London Good Delivery lists of accredited gold and silver refiners, it therefore begged the question as to what would the LBMA do about the large number of Russian gold refineries on the LBMA Good Delivery Lists, refiners which are embedded with the Russian banks in the Russian gold market.
