According to a 2016 report published by the US-based think tank Global Financial Integrity (GFI), the Indian government lost a staggering $13 billion to trade misinvoicing. This amount is equivalent to 5.5 percent of the value of the country's total revenue collections in 2016, the Economic Times of India reported. In 2016, almost two-thirds of Indian imports that appear to be most at risk fo...Read More
RAPAPORT... Shipments of polished diamonds to the US grew 4% to $5.51billion in the first quarter, as a stronger March canceled out a negative startto the year. Imports rose 13% to $2.23 billion for the month, compared with a1% rise in January and a 3% decline in February.US Diamond Trade Data for March 2019 Millions unless stated otherwiseRead More
Alrosa, the world leader in diamond mining in volume, held an international auction for +10.8-carat rough diamonds in New York early this month. The company sold 101 gem-quality diamonds at a total weight of 1,550 carats. The auction netted Alrosa a total of $ 8.8 million. Some 90 companies, from Belgium, Hong Kong, India, Israel, Russia, the UAE and the USA participated in the auction. "Our aucti...Read More
Nompumelelo (Mpumi) Zikalala has hit the ground running as the newly appointed MD of De Beers Group Managed Operations in South Africa and Canada, which employ more than 5 500 people, including contractors. The focus of the De Beers Group Managed Operations leadership team is on the Venetia Mine, Gahcho Kué Mine and De Beers Marine. The streamlining of operational management and identificat...Read More
American jeweler to the stars Le Vian celebrated 20 years of its record-busting Chocolate Diamonds with a glittering retrospective catwalk, while raising almost $500,000 for children's and cancer charities. Le Vian models sashayed down the runway in a packed Las Vegas ballroom at the Venetian Hotel on Sunday, June 2, in a catwalk show that looked both to the past and the future, with an audie...Read More
The First Lady of the Republic of Botswana, Mrs. Neo Jane Masisi, opened the Forevermark company's annual breakfast held at JCK LUXURY, sharing the important role that diamonds have played in the story of her own life as well as for her country with Forevermark jeweler and manufacturing partners. "It is thanks to the enduring desire for the diamond dream and the revenues Botswana has subsequ...Read More
Having recently completed a large facility management project for diamond processing organisation the Diamond Trading Company (DTC) in Gaborone, Botswana, industrial rope-access specialist Skyriders has found a faster, more efficient way of conducting maintenance on site through rope access.The project, which was completed this month for DTC at its head offices, involved sorting out defective ligh...Read More
Signet Jewelers, one of the United States' leading retailers of diamond jewelry, filed its sixth consecutive Conflict Minerals Report with the U.S. Securities and Exchange Commission (SEC). Signet disclosed that its supply sources of gold from the Democratic Republic of The Congo (DRC) were guaranteed to be conflict free. The firm also reported it had "extended its 3TG diligence and reporting...Read More
Reinforcing bar prices in the United States have hit a more than 14-month low, with market sources expecting lackluster demand, abundant supply, falling scrap costs, trade-related uncertainties and slowing business conditions to weaken prices further. Fastmarkets' price assessment for domestic rebar fell to $33.50-34 per hundredweight ($670-680 per short ton) fob mill on Wednesday June 5, its lowe...Read More
Australia-based Lucapa Diamond Company has launched a $3.3.-million, 12-month exploration programme to locate the kimberlite source of the high-value alluvial diamonds that it currently mines at the Lulo mine, in Angola.The programme is based on a technical review of Lulo kimberlite exploration results to date, including those of the 2018 drilling programme, which confirmed a further 70 kimberlite...Read More
International metals group Liberty House is unlikely to bid for troubled UK long steel producer British Steel, Fastmarkets has heard.Liberty House declined to comment on the subject at the time of publication."British Steel doesn't really fit in with their business model, which is based on recycling steel scrap rather than primary steel production," an industry source told Fastmarkets on Thursday...Read More
RAPAPORT... Retail sales of jewelry and other luxury items fell in HongKong in April due to cautious consumer sentiment and a slowdown in tourism. Revenue from jewelry, watches, clocks and other valuablegifts dropped 11% year on year to HKD 5.86 billion ($747.8 million), themunicipality's Census and Statistics Department reported last week. Sales inall retail categories slipped 4.5% to HKD 37...Read More
China's hot-rolled coil prices weakened again on Thursday June 6 on thin trading amid bearish sentiment and rising inventory levels.DomesticEastern China (Shanghai): 3,840-3,850 yuan ($556-557) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,790-3,800 yuan per tonne, down 10 yuan per tonneTransaction prices fell nationwide despite mills keeping their offers steady, with buyers being r...Read More
China's domestic rebar prices retreated on Thursday June 6 on softer demand amid losses in the futures market. Domestic Eastern China (Shanghai): 3,890-3,930 yuan ($563-569) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,840-3,890 yuan per tonne, down 10 yuan per tonneStockists cut their prices to secure more sales ahead of the long weekend, with China observing a public holiday on F...Read More
If push comes to shove, one of the world's largest gold miners is prepared to do an end run around the U.S. should President Donald Trump's threatened tariffs on Mexican goods bite.Agnico Eagle Mines Ltd. currently produces about 300,000 ounces of gold in Mexico that it refines in the U.S., all of which would likely be subject to the proposed tariffs, Chief Executive Officer Sean Boyd said Wednesd...Read More
JOHANNESBURG (miningweekly.com) – The world’s top 40 mining companies continued to consolidate their performance of the past several years by delivering steady growth in 2018, PwC’s ‘Mine 2019’ report, published on Tuesday, states.Combined, these companies’ revenue had increased by 8% year-on-year, which PwC says was buoyed by higher commodity prices and margina...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom.Latest transaction: billetBillet China,...Read More
Alkane maps own path to world-class critical metals producerSPONSOREDalkane resourcesThe court will determine whether to allow a referendum to ask the question, "are you in agreement with mining exploitation in the territories of the communities in the parishes of Lita, Carolina,Read More
Altech ticks boxes on path to production SPONSOREDaltech chemicalsThe major, which has been previously criticised by sections of the Australian resources sector for the paucity of information provided about Winu, revealed details from 11 diamond core drill holes.Read More