RAPAPORT... The World Diamond Council (WDC) has extended the term of its current officers for an additional year due to "unusual circumstances," it said Sunday.WDC bylaws state the term of its president lasts two years, after which the serving vice president automatically succeeds him or her. However, citing unforeseen circumstances during the 2020-to-2022 period, including the pandemic, the WDC h...Read More
RAPAPORT... India's rough imports rose 14% to $1.43 billion in May as the country sought to offset the decline in Russian rough supply. Polished exports grew 4% year on year to $2.09 billion, according to data from the Gem & Jewellery Export Promotion Council (GJEPC). Both measures had declined in April. The government is targeting 17% growth in all gem and jewelry exports in the current fisca...Read More
RAPAPORT... Swarovski has appointed former McKinsey & Co. executive Alexis Nasard as CEO, the company's first leader from outside the crystal maker's family to hold the post in its 127-year history.Nasard will start on July 4, taking over from interim CEO Michele Molon, who will assume the newly established role of chief commercial officer, Swarovski said last week. The move to onboard an...Read More
(IDEX Online) - Alrosa says it will not lower its forecast production of up to 35m carats this year - despite sanctions and banking restrictions imposed over its invasion of Ukraine.It also said plans to re-open the Mir mine, where a flooding accident claimed eight lives in 2017, were still under consideration.The Russian miner, part-owned by the government, said it was on course to meet H1 2022 g...Read More
(IDEX Online) - Three victims of Tinder Swindler Shimon Hayut are to recoup their financial losses through sales of a specially created Stronger Together bracelet.The $169 piece is being launched by Leviev Diamonds. Hayut, 31, from Israel, legally changed his name to Simon Leviev and falsely claimed to be CEO of the company.The Netflix documentary The Tinder Swindler, released in February, tells h...Read More
(IDEX Online) - Violent armed raiders left workers terrified when they stormed a jewelry store in New Jersey, USA, and fled with an estimated $1m or more of merchandise. The seven masked robbers threw staff to the ground as they ransacked display cases at Virani, specialists in antique-style Indian jewelry, in Iselin, New Jersey. Shocking CCTV images show a woman employee being forced to the groun...Read More
RAPAPORT... The International Colored Gemstone Association (ICA) has appointed industry veteran Doug Hucker as CEO, to succeed Gary Roskin.Hucker was the CEO of the American Gem Trade Association (AGTA) for the past 24 years, before leaving in March. He has also served on the boards of a number of industry associations, including the American Gem Society (AGS), the Jewelers Vigilance Committee (JV...Read More
(IDEX Online) - Lab growns now account for around a fifth of the diamonds used by manufacturers in India, according to reports.The switch from mined gems has been prompted by ongoing sanctions against Alrosa, together with demand form the US for cheaper goods, amid spiraling inflation. Lab growns are 40 per cent cheaper.Among the beneficiaries are lab grown manufacturers in India, which...Read More
Codelco maintains that the smelter meets environmental standards. However, operations ceased on June 6 when the company decided to bring forward maintenance work after episodes during which up to 100 local residents including children and adults experienced intoxication.Th copper producer created dialogue tables with the almost 350 workers and union representatives to transition them into other ro...Read More
(New throughout, adding Vale and BHP statement saying Samarcois not for sale, sources confirming talks and creditorsresponding to criticism of its restructuring plan) By Tatiana Bautzer SAO PAULO, June 20 (Reuters) - Miners Vale SA andBHP Group said in a joint statement on Mondaythey are not interested in selling their joint venture Samarco,after reports of the interest of Brazilian steelmaker Com...Read More
The initial public offering price for 14.388 million shares would be between US$11.75-12.50 per share, the firm said in a filing to the NYSE.Underwriters to the offering have an option to purchase a maximum of 2,158,200 additional shares of common shares.Ivanhoe Electric in an initial filing registration to the NYSE last month said the planned dual listing was "in order to support American supply...Read More
Canadian miner Alamos Gold (TSX: AGI) has begun production at its La Yaqui Grande mine in Mexico, following the completion of construction this month, slightly ahead of schedule.A total of 991 ounces of gold were produced from the initial pour, the company said, adding La Yaqui Grande, its second mine in Mexico, is expected to churn out roughly 3,000 ounces of gold in June.The figure has alread...Read More
Canadian explorer Argentina Lithium & Energy (TSXV: LIT; US-OTC: PNXLF) aims to advance new sources of high-quality lithium in Argentina to meet the growing demand for clean energy technologies powered by lithium-ion batteries.Argentina Lithium is part of the Grosso Group of companies, which has been a pioneer of mineral exploration in Argentina for nearly three decades.The Vancouver-headquarter...Read More
The mining universe has lost not only a wise and generous leader, but also a true renaissance man. Igor Levental, president of The Electrum Group and director of Novagold Resources and Gatos Silver, passed away suddenly and unexpectedly on June 10. Igor's mining career spanned more than 30 years, where he held numerous board and senior roles and was actively involved in many of our industry's m...Read More
During a presentation at the 2022 PDAC conference in Toronto, the Peruvian minister of economy and finance, ?"scar Graham, announced that his government will extend to 2025 the tax refund benefit to mining and oil exploration, which was scheduled to end in December 2022.According to Graham, the decision is based on the government's desire to guarantee the growth of the mining sector, which is resp...Read More
Growing fears of a recession and an aggressive 75-basis point hike by the U.S. Federal Reserve had markets reeling over the June 13-17 trading period. The S&P/TSX Composite Index dove 1,344.34 points or 7.1% to 18,930.48; the S&P/TSX Global Mining Index tumbled 8.76 points or 8.5% to 103.48; and the S&P/TSX Global Base Metals Index fell 19.59 points or 11.5% to 169.48. The S&P/TSX Global Gold Inde...Read More
The S&P/TSX Venture Composite Index fell 64.32 points or 10% to end at 640.38. Shares of Eloro Resources bucked the trend, rising 38 ? to $3.99 apiece as the company announced drill results from its Iska Iska silver-tin polymetallic project in southern Bolivia. Highlights from the drilling included 88.7 metres grading 10.74 grams silver per tonne and 1.01 grams gold starting from 319.4 metres in...Read More
The Dow Jones Industrial Average retreated 1,504.01 points or 5.03% to 29,888.78 and the S&P 500 fell 226.02 points or 6.1% over the week to 3,674.84 as U.S. stocks felt the pressure amid growing concerns of an economic recession, high inflation and rising interest rates. Most miners saw their share value decrease during the week despite providing seemingly positive updates. Shares of Nouveau M...Read More
Canadian explorer Golden Arrow Resources (TSXV: GRG; US-OTC: GARWF) holds a portfolio of precious and base metal projects in Argentina and Chile.Golden Arrow is part of the Grosso Group of companies, which has been working successfully in Argentina since 1993, where it has been involved in several major discoveries, including the Chinchillas silver deposit, now owned by SSR Mining (TSX: SSRM;...Read More
Mining and mineral exploration companies are under increased pressure to improve drilling performance. More accurate drilling can benefit every aspect of a mining operation by making it smoother, safer, and more productive.Drill operators, however, are required to oversee streams of complex data, generate value from that data, and manage tasks in need of constant attention during operations, which...Read More