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
Dubai Overtakes Antwerp as Top Rough Exporter
11 march 2022
(diamonds.net) - The United Arab Emirates (UAE) has leapfrogged Belgium as the world’s largest exporter of rough diamonds, officials in Dubai said during a week of international jewelry events in the city. The local industry has capitalized on other diamond centers’ Covid-19 downturns, as well as favorable tax and financing situations. Dubai is also poised to develop as a trade-show venue amid difficulties bringing visitors to Hong Kong. Rough exports surged 98% year on year to $12.96 billion in 2021 and jumped 62% versus 2019’s figure, the Dubai Multi Commodities Centre (DMCC) reported Tuesday — the first time in many years that it had published detailed diamond-trade data. By volume, rough exports climbed 31% to 107.9 million carats. Belgium’s rough exports came to $11.12 billion for the same period.
Crazy, Scarce Rough
10 march 2022
(diamonds.net) - The diamond market is in a Mexican standoff, one diamantaire observed with an air of bewilderment in a conversation this week. No one knows who’s going to move first — buyers who have orders but lack urgency or suppliers who are at times unwilling to sell because they expect to get better value in the future, he mulled.
Cut Out for Greatness
09 march 2022
(diamonds.net) - With so many brands and suppliers clamoring for business, it’s good to have a niche. Proprietary diamond cuts are a great way to carve out a unique selling point, though they involve costly research and development and can be hard to produce at scale. Protecting the intellectual property is also a difficult task. Still, demand for original designs exists and is a business opportunity for those who can do it right.
A long predicted supply squeeze has finally dawned over world’s diamond industry
08 march 2022
(miningmx.com) - The diamond market had seen a structural change where the “long-predicted supply squeeze is being reflected over all the diamond categories”, according to Petra CEO Richard Duffy. He told analysts at an Investor Day presentation held in London on Tuesday that currently there was a “very strong demand pull into an inventory pipeline where inventories are largely depleted and the ability of suppliers to provide inventory to the market is very low”. “This is important because it is a structural change – not a bubble or a blip – and it is supported by supply/demand fundamentals. This suggests we will have a robust and supportive market going forward.”
Nickel market eyes fate of Siberian metal as sanctions bite
07 march 2022
(miningweekly.com) - The biggest risk to battery materials due to Russia's deepening economic isolation is the supply of first-class Arctic nickel, according to a Bloomberg report published on miningweekly.com. Russia is a major producer of the metal, which will be needed in huge quantities as the world's car fleet transitions to battery power, the agency said noting that the fate of the electric vehicle industry is now heavily at stake as global companies rebuild ties due to events in Ukraine - for example, mining giant BHP warned last Monday of a shock to nickel supplies.
