RAPAPORT... Signet Jewelers has appointed Joan Hilson chief financialofficer, as part of an effort to strengthen its leadership team. The former David's Bridal executive - who also managed finances forAmerican Eagle Outfitters and Victoria's Secret - will begin at the company onApril 4. The outgoing chief financial officer, Michele Santana, will continuein her role until then, and will remain with...Read More
RAPAPORT... Sales from the Grib diamond mine in Russia showed little change in 2018, coming in at $300 million as prices of smallerstones faltered. "Grib Diamonds rough is concentrated by value in the smaller end, which was under pressure from mid-2018," Antony Dear, head of sales at the mine's marketing unit, Grib Diamonds, told Rapaport News Tuesday. "Our prices reflect this, and were overa...Read More
Researchers of the Fraser Institute reported that for the first time in more than five years, all three territories in Canada's north are among the top 15 most attractive regions for mining investment worldwide. This includes areas that hold potential for investments in diamond mining. Every year, the Fraser Institute surveys miners around the world to determine which jurisdictions are attractive...Read More
LSE-listed Gem Diamonds on Wednesday posted a significant surge in earnings as it delivered record diamond recoveries for the year ended December 31, 2018.The diamond miner reported a profit for the year of $46.6-million, compared with the $20.8-million achieved, before exceptional items, in 2017, with attributable profit reaching $26-million during the year under review.AdvertisementUnderlying e...Read More
ALROSA, the Russian diamond miner, held an auction in Vladivostok for rough diamonds over 10.8 carats. The overall revenue amounted to $9.1 million. The company auctioned 125 rough diamonds, weighing 2,090 carats total, to 24 companies from the largest centers of the diamond trade. "The first auction this year in Vladivostok completed with good results. The assortment is still in demand among the...Read More
A delegation of the heads of the Israel Ministry of Economy and the leadership of the Israel Diamond Exchange (IDE) visited Angola earlier this month and met with key officials in the country's rough diamond sector. Initiated by IDE, the visit's objective was to take advantage of changes in Angola's diamond marketing policy and consequently increase direct rough diamond sales to Israel. The delega...Read More
The Women's Jewelry Association (WJA) hosted the inaugural Women Executives Forum in New York City to build purposeful relationships among top women leaders across the jewelry and watch sectors. Held in celebration of International Women's Day, nearly 25 leaders discussed ways to:?EUR? Identify and develop female leaders?EUR? Prepare for the future of jewelry retail - and the rise of th...Read More
Gem Diamonds announced it sold a 13.33 carat pink diamond recovered at the Letseng mine in February 2019 at a tender in Antwerp for US$ 8,750,360. This represents a record dollar per carat price of US$ 656,933 for a Letseng diamond. Earlier this week, the firm published its year-end results for 2018,reportin a revenue of $267.3 million, compared to $214.3 million in 2017. Gem Diamonds It recovered...Read More
The AIGS Lab has launched an app that can verify AIGS gemstone reports, creating additional protection for customers. The app can verify the following AIGS reports: AIGS Master Gemstone Report (MGR and MGRS), AIGS Full Report, AIGS Diamond Report, AIGS Master Jade Report (MJR), and AIGS Brief Report. Customers who download the app may scan their report in order to verify that it is genuine. Third-...Read More
Alkane maps own path to world-class critical metals producerSPONSOREDalkane resourcesThe company said optimising mining and processing represented some 52% of the synergies, or $250 million a year. Within this, integrated mine planning will save $140 million a year, some 29% of the total.It will prioritise high-grade underground ore feed through the Goldstrike and Carlin Mill 6 roasters, minimisin...Read More
"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftHudbay said it would buy United Copper & Moly's 7.95% stake for $45 million in cash upfront and three annual payments of $10 million from July 2022.President and CEO Alan Hair said the simplified ownership structure improved Hudbay's financial flexibility to develop Rosemont and it hoped...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at $89.50 per tonne cfr China, laycan April 10-19.Vale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 65% Fe Iron Ore Carajas, traded at $98...Read More
Iron ore prices jumped on Thursday March 14 amid a positive destocking of steel products in China and signs of loosening restrictions on steelmaking operations.MB 62% Fe Iron Ore Index: $87.26 per tonne cfr Qingdao, up $2.48 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.38 per tonne cfr Qingdao, up $2.48 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.50 per tonne cfr Qingdao, up $2.80...Read More
Forward cargoes of seaborne coking coal continued to fetch lower prices on Thursday March 14, with some buyers in China saying that they would take a wait-and-see approach amid the emergence of what appears to be a downtrend.On the Global Coal trading platform, a June-laycan cargo in the branded segment of premium hard coking coal was traded at $202.40 per tonne fob Australia, lower than the trans...Read More
Import prices for steel billet in Southeast Asia moved up on Thursday March 14, amid an uptick in trading activity and higher scrap values, market participants said.Fastmarkets' daily import price assessment for billet in Southeast Asia was $485-495 per tonne cfr Manila on Thursday, up $5 per tonne from $480-490 per tonne cfr on Wednesday. Numerous deals involving Malaysian billet were concluded i...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday March 14, with copper, nickel, lead and zinc down by an average of 0.4%, while lead and tin were up by 0.1% 0.4% respectively.Three-month copper was recently quoted at $6,444 per tonne, down by 0.3% compared with Wednesday’s close at $6,466 per tonne.Volume was below average, with 5,913 lots traded o...Read More
Base metals traded on the London Metal Exchange were almost universally trading down during the morning session on Thursday March 14 due to continually weakening data from China."We have Chinese industrial production slowing down and Chinese car sales for February down 14% [while] Chinese consumer buying has pretty much dried up," Malcolm Freeman of Kingdom Futures said. Only the three-month LME a...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures were virtually unchanged following release of the Weekly Initial Jobless Claims report. Consensus was an increase to 225,000 from 223,000 last week. Actual was 229,000.Dollar General dropped $6.69 to $113.99 after reporting lower than consensus fourth quarter earnings. The comp...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday March 14, with copper, nickel, lead and zinc down by an average of 0.4%, while lead and tin were up by 0.1% 0.4% respectively.Three-month copper was recently quoted at $6,444 per tonne, down by 0.3% compared with Wednesday's close at $6,466 per tonne.Volume was below average, with 5,913 lots traded on LME...Read More
Exchanges have an important role to play in the growing push for the use of Environmental, Social and Governance (ESG) criteria in investing, the chief executive officer of the London Metal Exchange said. Matthew Chamberlain said that the lack of a global regulatory body policing ESG criteria meant that sometimes it falls to exchanges and other market infrastructure players to step up and use thei...Read More