RAPAPORT... A New York diamond wholesaler was sentenced to five years of probation and ordered to pay $65,000 after stealing nearly $600,000 in loose diamonds sent to him on memo.Isaac Dayan, whose business operates under the name Diamonds Direct, pleaded guilty to charges he failed to pay 11 New York-based diamond companies that had given him stones between November 2015 and November 2018, t...Read More

ASX-listed Newfield Resources is on track to produce the first diamonds from its Tongo diamond mine, in Sierra Leone, in the fourth quarter of this year.The miner on Thursday also said it would soon start the drilling and blasting of the underground decline at Tongo, following the arrival of the mining and support equipment on site.AdvertisementThe underground mining machinery comprises two jumbo...Read More

(IDEX Online) - Women are being urged to treat themselves to a piece of jewelry.They don't need a special reason, says a new consumer marketing campaign called March is Me Month."The goal is to empower every woman to celebrate herself, visit a retail jeweler, and treat herself to a piece of fine jewelry during the month of March," says the Women's Jewelry Association (WJA) which is...Read More

RAPAPORT... Revenue at Michael Hill grew 4.4% year on year to AUD 329.5 million ($216.7 million) in the Australian jeweler's first fiscal half, as investments in digital platforms paid off.Same-store sales - at retail locations open for at least a year - rose 6.3% for the six months ending December 29, reflecting increases across its network in Australia, New Zealand and Canada. Net profit cl...Read More

Diversified miner Anglo American has welcomed the measures to facilitate cross-border financial transactions, in support of trade and investment, announced by South Africa’s Finance Minister Tito Mboweni during his National Budget Speech on Wednesday.In a statement on Thursday, Anglo explained that annexures to the Budget Review provided additional detail, including a shift from the current...Read More

(IDEX Online) - Organizers have announced new dates for the SEASONS | Spring - Fashion Jewellery & Accessories Fair, after it they were forced to postpone the event because of coronavirus. The show, originally scheduled for 3 to 6 March at the AsiaWorld-Expo, Hong Kong, will now take place at the same venue from 19 to 21 May. "This decision has been reached following careful consideration and...Read More

RAPAPORT... The organizers of the Watches & Wonders Geneva show have canceled the April event due to the coronavirus. Baselworld is still set to take place, as it stands.Switzerland's Fondation de la Haute Horlogerie said it was its "duty" to anticipate the risks of travel and international gatherings given the global spread of the disease. The fair, formerly known as Salon International...Read More

TSX-V-listed junior diamond miner Diamcor Mining has started using a new, larger fleet of Caterpillar heavy mining equipment at its Krone-Endora at Venetia project, based next to diamond miner De Beers’ Venetia mine, in Limpopo.Diamcor started off by processing tailings material at Krone-Endora.AdvertisementThe new equipment will provide it with improved reliability, lower operating costs an...Read More

RAPAPORT... The Gemological Institute of America (GIA) has confirmed a new mineral species discovered in Italy, which it has named "dutrowite."The moniker is in recognition of GIA governor Barbara Dutrow and her contributions to mineral sciences and crystal chemistry. The naming is particularly apt, as the substance is from the tourmaline group, and Dutrow has carried out well-known and comprehens...Read More

RAPAPORT... Revenue from Rio Tinto's diamond division slid 11% to $619 million in 2019 as prices for rough diamonds weakened, the miner reported Wednesday. The diamond unit recorded a net loss of $21 million, compared with a profit of $118 million a year ago. Earnings before interest, tax, depreciation and amortization (EBITDA) plunged 50% to $151 million.Diamond production fell 8% to 17 mill...Read More

RAPAPORT... Sarine Technologies reported a loss in 2019, as soft demand in the first nine months outweighed a stronger fourth quarter.The diamond technology company reported a net loss of $1.4 million for the year, compared with a profit of $7.6 million in 2018. An oversupply of rough in the midstream, civil unrest in Hong Kong and tighter bank credit to India's manufacturing sector resulted...Read More

RAPAPORT... Revenue from the retail division of Warren Buffett's Berkshire Hathaway rose 2.5% to $16 billion in 2019, the company reported Saturday.The increase for the segment, which includes jewelry chains Borsheims, Helzberg Diamonds and Ben Bridge Jeweler, was boosted primarily by the company's car business. Pretax earnings for the entire retail unit grew 1.6% to $874 million for the year...Read More

RAPAPORT... Lucara Diamond Corp.'s sales rose in 2019 as the miner sold a higher volume of rough from its Karowe mine in Botswana.Proceeds for the year increased 9% to $192.5 million, exceeding the company's $170 million to $180 million forecast, it said Monday. A 17% increase in sales volume to 411,732 carats offset a 7% decline in the average price to $468 per carat.Lucara had a strong year...Read More

Turkish steel mills have continued to stay away from the deep-sea scrap markets to try to keep pressure on prices, sources said on Thursday February 27.After a buying spree in the past three weeks, the mills stopped their deep-sea purchases at the beginning of this week.The mills were very active in the deep-sea scrap markets in the period from February 4-24, booking at least 22 cargoes totaling m...Read More

Seaborne coking coal prices moved up on Thursday February 27, although buyers in China expected prices to show a correction following a drop in domestic metallurgical coke prices.Fastmarkets indicesPremium hard coking coal, fob DBCT: $162.05 per tonne, up by $2.75 per tonnePremium hard coking coal, cfr Jingtang: $169.01 per tonne, up by $0.67 per tonneHard coking coal, fob DBCT: $144.50 per tonne,...Read More

Seaborne iron ore prices retreated further on Thursday February 27, with many Chinese market participants concerned that the spread of the novel coronavirus (2019-nCoV) outside China and its impact on the ferrous sector within the country remain the biggest factors weighing on prices. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $85.72 per tonne, down $2.38 per tonne.62% Fe low-alum...Read More

Japanese ferrous scrap export transaction prices were unchanged over the week to February 26 despite a rise in offer prices from most sellers, market sources told Fastmarkets.A rise in container freights - amid a shortage of containers - increased demand for unusual bulk scrap bookings over the week in Asian countries including India and Pakistan, while a similar pattern emerged in Taiwan, with gr...Read More

Two major steelmakers in eastern China lowered their purchase prices for steel scrap on Thursday February 27 due to weak downstream demand, their first revision after the Chinese New Year holiday.Shagang's new purchase price for heavy scrap (6mm thickness) is 2,670 yuan ($379) per tonne delivered, including value-added tax. This is down by 30 yuan per tonne from its last price set in early January...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesJacques said work was progressing well but the maiden resource wasn't quite ready.Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesBut Sandfire has been beaten up more than most, with its 22% share price fall since the start of the year comparing unfavourably with the 10% fall for the copper/gold producer it is most oftenRead More