Mining Journal and MiningNews.Net Copper Outlook ReportSPONSOREDEro Copper touts green focus and shareholder returnsSPONSOREDero copperFor C3 Metals, X marks the spotSPONSOREDc3 metalsGreat Panther, great prospectsSPONSOREDgreat panther He told the RIU Explorers Conference that what Alicanto had found since pegging the historical mining project 12 months ago was "nothing short of amazing" and that...Read More
(IDEX Online) - Petra says like-for-like rough diamond prices rose by 46.5 per cent in the six months to December 2021 amid strong demand across all sizes and qualities.The UK-based miner today announced sales of $140.6m at Tender 4, an increase of almost 10 per cent on Tender 3. Last week it announced an interim figure for around 80 per cent of sales as it held Tender 4 in South Africa for t...Read More
RAPAPORT... Carla Liuni will step down as chief marketing officer of Pandora after two years with the company.Liuni will leave her position with the Danish jeweler to return to Italy, Pandora said last week. She was one of a number of senior marketing executives Pandora recruited in 2019 and 2020 to introduce major new product lines and launch its turnaround strategy."We understand Carla's wish to...Read More
RAPAPORT... Alrosa clients have continued to buy rough from the miner by sending payment in currencies other than dollars following a range of sanctions on Russia by Western governments.While punitive measures by the US and other powers don't ban dollar transactions with Alrosa, the Russian company has asked customers to pay in euros and other currencies, industry insiders told Rapaport News....Read More
RAPAPORT... With the US imposing sanctions on Alrosa and other Russian entities, there is rising concern about the impact on the diamond market, considering the vast rough supplies from the country. The following is a resource center to help the trade gain clarity on the crisis and its effects on the industry. Rapaport Trade AlertUS Department of the Treasury announces sanctions against Russi...Read More
RAPAPORT... Douglas Hucker has left his position as CEO of the American Gem Trade Association (AGTA) after 24 years.During his time with the organization, Hucker upped AGTA's focus on education and key issues such as treatment disclosure and the origin of gemstones, the AGTA said last week. He also formed affiliations with other industry groups, including the World Jewellery Confederation (CIBJO),...Read More
RAPAPORT... Hong Kong's hard-luxury market saw its weakest growth in a year as the government implemented stronger limitations on business operations during the fifth wave of Covid-19.Revenue from jewelry, watches, clocks and valuable gifts rose 7% year on year to HKD 3.61 billion ($462.7 million) in January, the municipality's Census and Statistics Department reported last week. After the categor...Read More
(IDEX Online) - Luxury brands including LVMH, Richemont, Chanel, Kering and Hermes are suspending their operations in Russia, in response to its invasion of Ukraine.LVMH, which owns Christian Dior, Tiffany & Co, Givenchy, Kenzo, TAG Heuer and Bulgari closed all 124 of its outlets on Sunday in Moscow, St. Petersburg and Yekaterinburg, but said it will keep on paying its 3,500 employees.Richemon...Read More
Mining Journal and MiningNews.Net Copper Outlook ReportSPONSOREDEro Copper touts green focus and shareholder returnsSPONSOREDero copperFor C3 Metals, X marks the spotSPONSOREDc3 metalsGreat Panther, great prospectsSPONSOREDgreat pantherRio has been working on repairing its relationship with traditional owners since the destruction of the Juukan Gorge caves in May 2020.Read More
RAPAPORT... Alrosa has left the Natural Diamond Council (NDC) amid the fallout from Russia's invasion of Ukraine."The board of directors of the [NDC] has today received Alrosa's decision to suspend its membership," the council said in a statement Friday. "In suspending its membership, Alrosa has stepped down from the board and will cease all financial contributions."The NDC carries out catego...Read More
(IDEX Online) - Alrosa has suspended its membership Natural Diamond Council (NDC) and relinquished its position as as vice chair of the Responsible Jewellery Council (RJC), following Russia's invasion of Ukraine.It said it hoped the industry would stand strong during "this tough time" and that the situation would soon stabilize.The NDC, an alliance of the world's leading diamond producer...Read More
(IDEX Online) - Christian Dior yesterday unveiled an 88.88-carat cushion-cut yellow diamond - worth an estimated $50m - at the re-opening of its flagship store in Paris.The fancy intense VVS2 stone was recovered as a 150-carat rough gem at the Kimberley mine, South Africa, owned by Ekapa.Dior acquired it for an undisclosed sum and insisted on cutting it to exactly 88.88-carats, reflecting its beli...Read More
US sanctions Russia, including Alrosa and its CEO. No sanctions on doing business with Alrosa but banking system shut down. Significant supply disruptions expected to impact market. Alrosa is the largest rough producer with 2021 sales of 45.5M cts. for $4B, profits of $834M. Diamond trading robust, but sentiment weakened by economic and geopolitical uncertainty. 1 ct. RAPI +5.6% in Feb. despite co...Read More
RAPAPORT... Alrosa has voluntarily stepped down as vice chair of the Responsible Jewellery Council (RJC) in light of Russia's war in Ukraine, the standards authority announced Thursday.The diamond miner will also leave the organization's board of directors temporarily, the RJC noted. The decision was "communicated" to the board during a meeting on Thursday, it added. Alrosa declined to commen...Read More
The Ministry of Mines and Energy authorised the restart after it completed a consultation process with the indigenous Maya Q'eqchi' people, which was ordered by the Constitutional Court in June 2020.Read More
(IDEX Online) - Two former employees have been cleared by a court in Namibia of stealing marine diamonds worth $420,000 from a Debmarine vessel. The main prosecution witness against Emmanuel Shikololo and Rodney Klim, both aged 48, did not give a credible account, said the judge at Windhoek High Court. Klim was alleged to have reported a blockage in the vessel's vacuum air trans...Read More
The first in a series of webinars on the future of diamonds looks at sustainability: What is it, and why does it matter?...RAPAPORT... Sustainability has emerged as a key driver of business strategy in recent years, growing from the need to protect the planet, uplift communities and ensure that products and services make a positive contribution to society. But what is driving this interest? A...Read More
The motion received 13 votes in favour with three against and three abstentions.Read More
RAPAPORT... Lucapa Diamond Company has upped its total revenue forecast for the Merlin mine over the next 14 years amid the increase in rough prices.The Australian miner reevaluated its outlook based on the strong demand and low supply scenario currently playing out in the market, which has led to a 42% surge in the price of rough diamonds, it said Thursday.Revenue for the life of mine will come t...Read More
RAPAPORT... Alrosa has highlighted concerns about the impact of the US's punitive measures after reporting its strongest annual earnings in five years.Revenue jumped 51% to RUB 326.97 billion ($2.99 billion) in 2021 as the diamond market recovered from the previous year's downturn, the Russian miner reported Wednesday. This drove net profit to RUB 91.32 billion ($834 million), almost triple 2...Read More