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
Citing data compiled by S&P Global Market Intelligence, Mazumdar observed that copper exploration budgets in Canada, the USA and Australia saw a significant increase in 2021 to some US$855 million of the $2.3 billion global spend, although the countries are not large copper producers.These three countries have historically attracted 30% of exploration spend, but this has now jumped to 40-45%."...Read More
RAPAPORT... Australian miner Odessa Minerals has applied for two licenses to explore an alluvial deposit south of the defunct Argyle mine, believing it holds diamond "runoff" from the famed site.The Argyle South area is a 40-kilometer channel that carried diamonds from eroded Argyle kimberlite pipes through multiple drainage systems toward Lake Argyle, Odessa said last week. Previous exploration o...Read More
The company received approval from the Senace environmental authority for a programme of investments which include increasing the plant throughout from 145,000 tonnes per day to 152,250tpd as theRead More
Alma Metals seeks the future of copper in AustraliaSPONSOREDalma metalsBattery materials poised for another strong year in 2022SPONSOREDwood mackenzieShorrocks vies to repeat Bellevue, Auteco successes at CygnusSPONSOREDcygnus goldTrigg buoyed by scoping study, SOP priceSPONSOREDtrigg mining The latest list, released by the United States Geological Survey, contained 15 more commodities than t...Read More
"We are proud to be awarded these grants for the second time, which validates the company's bold exploration strategy exploring the northern, covered extension of the Macquire Arc, Australia's premierRead More
A Preliminary Economic Assessment (PEA) is the first opportunity an exploration/development mining company can provide to the market an independent assessment of the potential economic value of the company's mineral resource. A PEA is preliminary in nature and can include inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them...Read More