@import url(https://ofc.rapaport.com:449CuteSoft_Client/CuteEditor/Load.ashx?type=style&file=SyntaxHighlighter.css);@import url(styles/editnewscuteeditor.css);RAPAPORT... India's Gem & Jewellery Export Promotion Council (GJEPC)has expressed disappointment with the nation's latest Union Budget, adding that failure to reduce high duties on gold and diamonds will result in furtherjob losses....Read More
RAPAPORT... Luxury fashion house Gucci has made a move into high jewelrywith the inauguration of its first boutique and a collection by creativedirector Alessandro Michele. The store, which is dedicated exclusively to jewelry,opened on July 2 in Paris's historic Place Vend??me, and will display the new HortusDeliciarum collection. The line features more than 200 pieces, mainly one of akind. Each...Read More
Alrosa, the world's leading diamond miner in volume, staged its second auction in Hong Kong this year, earlier this month. Auctioning only "specials," i.e. rough diamonds of weights exceeding 10.8 carat, the company sold 112 diamonds, at a total weight of 1910 carat. Revenue from these sales amounted to $10.3 million. The revenue of Alrosa's two auctions this year exceeded $20 million. F...Read More
RAPAPORT... High-end online retailer Net-a-Porter isset to launch an invitation-only digital platform, selling exclusive jewelry toits most loyal members. From later this month, customers whohave been awarded EIP (Extremely Important People) status by Net-a-Porter willbe able to access EIP Priv?(C), a "private and personalized online space" within the Net-a-Porterwebsite. The digital "destination"...Read More
A brochure that presents an overview of the most important changes to the Belgian Company Code is now available at the reception of the Antwerp World Diamond Centre (AWDC). Prepared and published by the Belgian Employers Federation (FEB/VBO), these brochures are available in English, French and Dutch, both in printed and digital formats. The new Belgian Company Code became law on May 1, 2019. The...Read More
Turkish steel mills have taken a break from deep-sea scrap purchasing at the beginning of the week but are expected to soon book more cargoes for August shipment, sources told Fastmarkets on Monday July 8.After booking a Baltic Sea cargo at $298.50 per tonne cfr for HMS 1&2 (80:20) late last week, mills were quiet at the beginning of this week.However, they are expected to book more deep-sea...Read More
Firestone Diamonds, an diamond mining company with operations in Lesotho, found a 54- carat, intense fancy yellow, sawable diamond in Liqhobong Mine in Lesotho. The diamond will go on sale at the company's next tender in September 2019. Firestone's CEO, Paul Bosma, said: "The Liqhobong mine has become known for its fancy yellow stones but this one is the largest we've recovered so...Read More
Vivien Johnston of the Dragonfly Initiative was appointed Supply Chain Ambassador to the Women's Jewellery Network (WJN) in recognition of her work supporting female jewelers across the value chain to achieve sustainability in their sourcing practices. The Dragonfly Initiative (TDI) is a consultancy that works across the depth of the supply chain, applying insights from 20 years of experience...Read More
De Beers Group on Monday announced the launch of a three-year $315 000 partnership with WomEng to develop the next generation of highly skilled women engineers.De Beers will invest the funds in programmes that aim to encourage young women to study science, technology, engineering and mathematics (STEM) and to pursue engineering careers in South Africa, Namibia and Botswana.AdvertisementDe Beers Gr...Read More
Turkish domestic prices for steel scrap have remained stable over the past seven days on weak demand in the summer holiday period, sources said on Monday July 8.Only one steel mill changed its buy price for auto bundle scrap in the past week. Habas reduced its purchasing price for the material by TRY20...Read More
Seaborne iron ore prices rebounded on Monday July 8, with supply tightness a lingering concern for most market participants.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $118.38 per tonne, up $3.57 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $118.30 per tonne, up $4.24 per tonne. Fastmarkets' index for iron ore 62% Fe low alumina fines, cfr Qing...Read More
Firestone Diamonds has recovered a 54 ct intense fancy yellow, sawable diamond from its Liqhobong mine, in Lesotho.The diamond will go on sale at the next tender, which is scheduled to take place during September.Advertisement“The Liqhobong mine has become known for its fancy yellow stones, but this one is the largest we’ve recovered so far and is therefore quite special. Although cert...Read More
Seaborne iron ore concentrate and pellet prices increased in the week to Friday July 5, propelled by the recent surge in iron ore fines values.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao was $125.12 per tonne on July 5, up by $2.09 per tonne week on week.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, averaged $131.06...Read More
Seaborne coking coal prices experienced mild movements on Monday July 8, with spot trading activity remaining robust.A cargo of top-quality product was traded at around 190-191 per tonne fob Australia. The shipment is bound for Malaysia, sources said during the day.A shipment of premium mid-vol materials was heard to have changed hands at $190 per tonne cfr China. This price is similar to that for...Read More
Import prices for rebar in Singapore rose in the past week due to the rising cost of ferrous scrap.The weekly Fastmarkets MB price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $490-495 per tonne cfr for the week to Monday July 8, up $15 from $475-480 per tonne cfr from a week earlier.Ferro...Read More
JSE-listed Trans Hex announced on Friday a share buyback programme to purchase the issued share capital of shareholders at R1 apiece, which will effectively delist the company from the JSE.This offer excludes the shares of Cream Magenta 140, Metcap 14 Proprietary and RAC Investment Holdings – the consortium.AdvertisementThe consortium holds 79.73% of the company’s issued share capital....Read More
The Queensland Resources Council (QRC) will hold discussions with the Australian government, mining unions and workers this week regarding action that can be taken to increase safety across the sector. This follows a fatal accident over the weekend at the Baralaba North mine - located in the Bowen Basin of Australia's Queensland state - that led to the death of a worker. The Middlemount mine, loca...Read More
Euromines lifts hood on sustainability methodologySPONSOREDThe deal will pair Atico's producing El Roble copper mine in Choco, Colombia, with Toachi's high-grade gold and copper La Plata project in Cotopaxi province, Ecuador, both of which are volcogenicRead More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumThe US$52 million optimisation project will increase throughput from 450,000 tonnes per day to 500,000tpd, which will increase annual copper production from 57,000t to 60,000t and extend the mine life by 4.5 years until 2030.If approved, the pit will see three new exploitation phases which will increase its surface footp...Read More
Northern China's rebar prices weakened on Monday July 8 while those in the country's eastern region held steady, with market participants still taking a wait-and-see approach after iron ore prices plunged last week.Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($576-580) per tonne, unchangedNorthern China (Beijing): 3,900-3,940 yuan per tonne, down 10-20 yuan per tonneMarket participants wer...Read More