(IDEX Online) - The Dubai Diamond Exchange (DDE) has reported a record $19.8bn of trade in the first half of 2022. In February it claimed it had overtaken Antwerp as the top trading hub globally for rough diamonds - over $22.8bn in 2021. And its H1 2022 figures for polished trade show a year-on-year rise of over 52 per cent, to $6.7bn. The most up-to-date figures from Antwerp, with...Read More
(IDEX Online) - Security firm Brink's is locked in a legal battle with victims of what has been described as one of the biggest gem heists in US history. Brink's insist the total insured value is $8.7m But 13 "mom and pop" jewelers who had their stock plundered in July, say the actual value is closer to $100m.Thieves stole 22 bags of jewelry from a tractor-trailer while two gu...Read More
(IDEX Online) - Canadian rapper Drake has splashed out on an "all-diamond" ring, set with a dozen huge VVS-clarity oval gems all the way round, an even bigger center stone.The Grammy-winning artist, aged 35, has a fortune estimated at over $200m.He commissioned the so-called Godfather Ring, a tribute to Marlon Brando's character in the 1972 movie, from New York jeweler Alex Moss.It is m...Read More
(IDEX Online) - Police have arrested a suspect following the theft of jewelry worth almost $500,000 from Macy's. He was allegedly caught on security video pawning an item from the raid at the Macy's department store at Oak Court Mall, Memphis, Tennessee, USA. Rashad Bonds, 30, is accused of theft of property worth between $60,000 and $250,000, according to WREG-TV . Police say five...Read More
The company said lower grade at its Chuquicamata underground mine caused by geomechanical and material handling problems, and lower plant availability also contributed to the decline.Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade. Best Buy added $1.99 to $75.69 after reporting higher than consensus second quarter earnings.Twitter slipped $0.37 to $39.67 after Elon Musk issued a letter to terminate his takeover offer.Big Lots added $0.49 to $22.04 after reporting higher than consensus second quarter earnings.Bank o...Read More
The Ukrainian money-laundering racket continues. Last week Joe Biden pledged another $3 billion in aid to Ukraine. The aid includes weapon systems that will allow Ukraine to defend itself over the "long term."Just how long is the long term? How long does the administration plan on watching Ukraine be destroyed simply because they want to weaken Russia?By now, it's a familiar script. Ukraine says,...Read More
This week's episode features geopolitical and natural resource commentator Paul from the Sirius Report in conversation with host Adrian Pocobelli. Paul discusses the increasing vulnerability of European nations to energy shortages, as well as the ongoing development of precious metals exchanges around the world, and the challenges Western companies could face competing with higher energy and lab...Read More
As it pushes toward completing a feasibility study by year-end for its high-grade Windfall gold deposit in Eeyou Istchee James Bay, Que., Osisko Mining (TSX: OSK) has released an updated resource outlining a total of 7.4 million ounces. The updated resource is based on nearly 1.9 million metres of drilling. In the measured and indicated category, Windfall now contains 4.1 million oz. in 11.1 mill...Read More
While rising interest rates have weighed on the gold price since it hit its most recent peak of over US$2,050 per oz. in March, exploration for the yellow metal is still running hot. Below are the top 10 best gold drill results for listed companies for the year to date and are ranked by gold grade x width, as identified by our sister company Mining Intelligence. Best gold drill results YTD.1 KIEN...Read More
Southern Silver Exploration (TSXV: SSV) has released a preliminary economic assessment (PEA) for its 100%-owned Cerro Las Minitas silver project about 70 km northeast in Durango state, Mexico. The PEA puts gross revenues over 15 years of mining at US$3.7 billion.With an initial capital requirement of US$341 million for a large-scale, underground mine, the study puts the after-tax net present value...Read More
New Found Gold (TSXV: NFG; NYSEA: NFGC) announced plans last week to launch an at-the-market equity offering to raise up to $130 million for exploration at two, wholly owned gold projects in Newfoundland.The company has a 400,000-metre drill program underway at the Queensway project 15 km west of Gander, N.L. It also anticipates updating the resource estimate at Lucky Strike east of Kirkland Lake,...Read More
Japan's Honda Motor and South Korean battery maker LG Energy Solution plan to invest US$4.4 billion to build a new battery production plant for electric vehicles in the U.S.The news comes on the heels of a string of recent announcements that aim at cutting China out of supply chains for EVs.It also marks the latest plans by automakers to invest in U.S. production of battery cells for EVs, as the i...Read More
Three diamond drills are turning at Collective Mining's (TSXV: CNL; US-OTC: CNLMF) newly discovered copper-gold-silver Apollo target in west-central Colombia.Apollo is one of eight porphyry-related targets the company has found within a 3-km by 4-km cluster, and is part of the Guayabales project, where it has an option to earn 100% interest.The new results are from two diamond drill holes - APC-3...Read More
The S&P/TSX Venture Composite Index drifted slightly lower over the Aug. 8-12 trading session by 0.6% or 3.99 points to end the week at 645.92. Shares in lithium developer Sigma Lithium rose $5.98 or 23.4% during the session to end at $31.53 apiece. Sigma continues with construction of its Grota do Cirilo spodumene project in Brazil's Minas Gerais state, with commissioning of the first-phase pla...Read More
Over the Aug. 22-26 trading period, the S&P/ TSX Composite Index fell 238.09 points or 1.18% lower, to 19,873.29. The S&P/TSX Global Mining Index gained 2.37 points or 2.54% to 95.54, and the S&P/TSX Global Base Metals Index gained 8.5 points or 5.28% to 169.6. The S&P/TSX Global Gold Index fell by 2.89 points or 1.22% to 233.36, and spot gold ended the week at US50 ? per oz. higher, or 0.29%, at...Read More
The Dow Jones Industrial Average fell 1,423.34 points or 4.22% to 32,283.40, and the S&P 500 closed the trading week at 170.82 points or 4.04% lower at 4,057.66.The week's top US-based value gainers were three potash companies, highlighting an intensifying supply squeeze brought on by Russia's war in Ukraine.Intrepid Potash was the trading week's top value gainer, adding US$12.73 to close at US$55...Read More
The need to discover new sizeable economic nickel deposits has never been more acute as the world transitions to a clean-energy-driven economy that relies heavily on nickel-based battery technologies and more robust nickel-infused steel products. Set against this backdrop, The Northern Miner presents a top-ten ranking of the best nickel drill intercepts reported up to Aug. 17, 2022, with the top...Read More
Graphite One (TSXV: GPH; US-OTC: GPHOF) has released a prefeasibility study on developing a mine at its Graphite Creek property in Alaska and building a battery anode materials manufacturing plant in Washington state. The study was based on a proposed mine life of 23 years and a 26-year operating life for the manufacturing plant, which would use purchased graphite for the first four years until t...Read More
Colombian finance minister Jos?(C) Antonio Ocampo said the government has withdrawn a plan to introduce a 10% duty on gold exports included in the tax reform bill submitted by the new leftist government of President Gustavo Petro in early August.The proposal sought a 10% export tax on the value of gold exports whenever the metal price exceeded US$400 per ounce.The benefits of such plan would have...Read More