News: Diamond trading quiet over Jewish holidays. Dealers cautious due to market slowdown as polished prices continue decline. US jewelers optimistic for 4Q. Stock market slump and strong dollar affecting sentiment. Volatile euro and record-low Indian rupee (INR 81.90/$1) squeezing dealer liquidity. Singapore show opens to mixed expectations; Chinese buyers limited by Covid-19 travel restrictions...Read More
RAPAPORT... Customers left almost half of the diamonds on the table at the latest Trans Atlantic Gem Sales (TAGS) rough tender as the weak market dented demand, the Dubai-based company reported.TAGS presented rough worth $25 million at the smaller-than-usual tender, which took place in Dubai's Almas Tower from September 21 to 28, it said Wednesday. It featured the full range of sizes, mainly...Read More
RAPAPORT... The European Union is proposing a fresh package of restrictions on Russian goods but is leaving diamonds untouched, according to the Politico news website.The new sanctions ban imports of several steel products and outlaw the export of certain semiconductors to Russia, the outlet said Wednesday, citing a draft European Commission document that was not yet public. Russian rough is...Read More
(IDEX Online) - The European Union yesterday proposed an eighth round of sanctions against Russia, but made no mention of outlawing its diamonds.Five of the bloc's 27 countries, including Poland, Estonia, Latvia, and Lithuania, have reportedly called for diamond sanctions.The USA sanctioned rough diamonds from Russia soon after it invaded Ukraine in February, but the EU did not follow suit.Be...Read More
RAPAPORT... Lucapa Diamond Company has recovered a 113-carat, type IIa rough at its Lulo mine in Angola, its fifth stone over 100 carats this year and the third this month.The new discovery joins that of a 131-carat diamond last week and a 160-carat rough earlier this month, Lucapa said Thursday. All three stones are high quality. Lulo also produced a 170-carat pink in July.In total, Lucapa has un...Read More
(IDEX Online) - Russian miner Alrosa has discovered 22 new diamond deposits in Zimbabwe following a $12m exploration program in a joint venture with the country's government.An announcement about the findings was made by Zimbabwe's President Emmerson Mnangagwa (pictured) during a meeting at the United Nations General Assembly, in New York.He indicated that Alrosa will be allowed to work...Read More
(IDEX Online) - Customs officers in the US seized a shipment from Hong Kong of 700 fake Cartier Love bracelets that would have been worth almost $9m if genuine.They suspected they were counterfeit because they "lacked fine details, were constructed from cheap material, and contained fake inlayed diamonds".The bracelets arrived at the Port of Cincinnati, Ohio, and were destined for an address in th...Read More
(IDEX Online) - A Graff necklace featuring a 13.88-carat Columbian emerald sold for just over $575,000 at Bonhams, London - more than five times its pre-sale estimate. It was the top selling piece in the London Jewels auction of over 200 lots, including many 18th- and 19th-century antiques, as well as art deco items.The detachable pear-shaped emerald drop (pictured) is suspended from a series...Read More
Chaarat makes headway at KyzyltashSPONSOREDchaarat gold holdings ltd.Zenith Minerals aiming for new heights with lithium focusSPONSOREDzenith minerals limitedBedrock gold discovery adds to Kingwest reignSPONSOREDkingwest resourcesMining Journal and MiningNews.Net Critical Minerals reportSPONSOREDThe Forum will be hosted online at Brock University in Ontario, Canada, and will bring together thought...Read More
Chaarat makes headway at KyzyltashSPONSOREDchaarat gold holdings ltd.Zenith Minerals aiming for new heights with lithium focusSPONSOREDzenith minerals limitedBedrock gold discovery adds to Kingwest reignSPONSOREDkingwest resourcesMining Journal and MiningNews.Net Critical Minerals reportSPONSORED The physical dangers of mining have never been far from the minds of anyone who worked in the in...Read More
The mine has been suspended since 11 September following a mudslide at the underground mine, which claimed the lives of three contractor employees.The company then reported on 22 September that Alis residents had blocked the main access road to the mine."Efforts to ensure critical safety and maintenance have been ongoing at the mine throughout the blockade," Sierra said on 28 September."Accordingl...Read More
(Corrects in second paragraph that parent company MMG and notLas Bambas is planning to double production in 2025 and doubleagain in 2030) By Marcelo Rochabrun and Marco Aquino LIMA, Sept 27 (Reuters) - Chinese miner MMG Ltd expects to invest $2 billion in the next five years toexpand its troubled Las Bambas copper mine in Peru and is eyeingpotential acquisitions to further increase production, an...Read More
U.S. equity index futures were lower this morning at 7:30 AM EDT. S&P 500 futures were down 30 points in pre-opening trade..Next estimate of U.S. annualized second quarter real GDP is scheduled for release at 8:30 AM EDT is expected to remain unchanged at -0.6%.Starbucks added $0.19 to $87.30 after the company increased its dividend by 8%.Vail Resorts gained $8.36 to $218.65 after reporting a...Read More
The results from five drill holes released by Kodiak Copper Corp. (TSXV: KDK) have increased the mineralized area at the Gate Zone of the company's 147 sq. km. MPD copper-gold project in British Columbia.The company's fully funded, 25,000-metre drill programme has delivered "impressive" intercepts, according to CEO Claudia Thornquist."The Gate Zone has delivered further impressive drill intercepts...Read More
Canada Nickel (TSX-V:CNC; OTCQB: CNIKF) has secured a US$10 million loan facility with Auramet to continue advancing its 100%-owned Crawford nickel-cobalt sulphide project in northern Ontario following the release of its feasibility study, expected before year end.The feasibility study is now about 85% complete, the Toronto-headquartered miner said in a news release on Thursday.Canada Nickel CEO M...Read More
Omineca Mining and Metals (TSXV: OMM) and Lightning Creek Mining (LCM), its joint venture partner on the Wingdam project, have contracted Saskatoon-based Fortis Mining Engineering and Manufacturing to provide additional underground mining services.Wingdam is a gold exploration and placer recovery project located along the Barkerville Highway 45 km east of the city of Quesnel, British Columbia. The...Read More
Electric Mobility Canada, with the support of Dunsky Energy + Climate Advisors, has released a scorecard comparing how Canadian provinces and territories are doing at supporting consumers in their transition to electric vehicles.The scorecard shows that "exciting action" is underway, with EVs becoming the clear choice for consumers and businesses in many parts of the country. At the same time, pr...Read More
Shares of Ero Copper (TSX: ERO; NYSE: ERO) rose by 9.4% on Thursday morning on the news of its discovery of a regional nickel sulphide system in the Cura???? Valley of northeastern Brazil.The discovery, known as the Umburana System, has been traced for 5 km so far and is open in all directions. It is highlighted by several surface expressions of nickel mineralization, the Vancouver-headquartered m...Read More
Arizona Sonoran Copper (TSX: ASCU) has published a maiden resource estimate for Arizona's Parks-Salyer (P/S) porphyry copper deposit, immediately southwest of the flagship Cactus project.The P/S resource is on contiguous private land and includes oxide, enriched and stockpile material considered amenable to a heap leaching operation. The inferred resource now stands at 143.6 million tonnes grading...Read More
Global mining and metals executives view ESG, geopolitics and climate change as the top three risks facing their business over the next 12 months, according to this year's ranking of the Top 10 business risks and opportunities for mining and metals in 2023 by EY."We've witnessed huge upheaval and change over the last year, namely due to the war in Ukraine, climate events, new governments in minin...Read More