RAPAPORT... India's leading diamond-trade organizations have called on members to stop importing rough for at least a month to prevent an oversupply and ensure banks maintain their credit to the sector.Companies should consider pausing rough imports from May 15 for a minimum of 30 days, according to a letter from the Gem & Jewellery Export Promotion Council (GJEPC) and four other industry...Read More

RAPAPORT... Technology company Everledger has partnered with De Beers sightholder Shairu Gems Diamonds and its subsidiary Atit Diamond Corporation to offer more transparent data on the goods they supply, as well as a mechanism to offset their carbon footprint.The London-based business, which provides blockchain services to the diamond industry, has teamed up with the suppliers to collect, tra...Read More

(IDEX Online) - The overall growth in sales of watches and jewelry slowed in the USA in February, as the coronavirus crisis escalated and the nation's first cases were confirmed.The year-on-year increase was 3.4 per cent, down from 4.7 per cent last December and 4.1 per cent in January.Meanwhile, overall jewelry and watch sales figures for recent months have been revi...Read More

(IDEX Online) Canada's troubled Dominion Diamond Mines has been granted insolvency protection, a month after closing its Ekati mine to prevent the spread of coronavirus. The Calgary-based company is speaking to lenders, creditors, equity owner and other stakeholders to "solicit and evaluate strategic alternatives to restructure the company financially and operationally." It filed for ins...Read More

Demand for imported steel billet and domestic rebar in Egypt was soft in the week ended Thursday April 23 and was unlikely to improve in the short term because of the start of the Islamic holy month of Ramadan, as well as the Covid-19 pandemic, sources have told Fastmarkets.No new billet deals have been heard since April 12, when the Egyptian ministry of trade postponed the reduction of the duty i...Read More

(IDEX Online) - Insurance firm Jewelers Mutual Group is making its online safety and security learning platform freely available to non-policy holders during the coronavirus crisis. More than 1,000 client businesses already use its JM University for annual training and new hire orientation.  It is now being made available to the entire industry. JM University comprises 10 structured courses,...Read More

RAPAPORT... Kering's jewelry and watch divisions have been "hard hit" by COVID-19, dragging revenues down for the first quarter, the French luxury group reported Monday.The company, which owns Boucheron, Pomellato and Qeelin, said income for its "other houses" segment - including jewelry and watches - fell 4.1% to EUR 553.3 million ($597.1 million) in the three months ending March 31.It noted...Read More

RAPAPORT... De Beers has reduced its full-year production guidance by 7 million carats, putting the miner on course for its lowest output since 2009. The miner expects to produce between 25 million and 27 million carats in 2020, compared to the 32 million to 34 million in its original projection, it said Thursday. The revised forecast for 2020 was due to the impact of the COVID-19 pandem...Read More

JOHANNESBURG (miningweekly.com) –  Most of Anglo American’s mining sites around the world are continuing to operate, with appropriate health, hygiene and distancing measures.The diversified mining company said on Thursday that it was taking all necessary steps to ensure the security and integrity of its assets for the long term and preserving its ability to return affected op...Read More

China's domestic hot-rolled coil prices were largely stable on Thursday April 23 despite falling futures. Some exporters have become more optimistic about overseas prospects amid reports of an easing of a lockdown in Vietnam to contain the Covid-19 virus.DomesticEastern China (Shanghai): 3,300-3,320 yuan ($466-469) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,240 yu...Read More

RAPAPORT... Sales of rough from Mountain Province's Gahcho Ku?(C) mine grew 2.4% to 659,318 carats in the first quarter, the company said Monday.The Canada-based miner also saw a 6% uplift in its average price, yielding $75 per carat compared to $71 per carat in the first quarter of 2019. Together, these factors increased the company's revenue by 7% to $49.2 million for the three months endin...Read More

RAPAPORT... Luk Fook's same-store sales dropped 57% in the fourth fiscal quarter amid extensive retail closures for the first two months of the year and sluggish footfall in March.The jeweler saw a 60% year-on-year slide in same-store sales - at self-operated branches open for at least a year - across Hong Kong and Macau for the three months ending March 31, it reported last week. This follow...Read More

JOHANNESBURG (miningweekly.com) – Diamond production in South Africa increased by 97% to 0.8-million carats as the final ore from the opencast Venetia mine in Limpopo is mined prior to transitioning to underground mining, Anglo American reported on Thursday.Venetia’s underground mine will extend operational life to 2045.AdvertisementIn its first quarter production report for the three...Read More

China's domestic rebar prices moved up slightly on Thursday April 23, supported by falling stocks in the spot market. Eastern China (Shanghai): 3,440-3,470 yuan ($487-471) per tonne, up 10-20 yuan per tonneNorthern China (Beijing): 3,430-3,470 yuan per tonne, widened upward by 10 yuan per tonneRebar prices rose slightly due to reduced inventories. A trader in eastern China...Read More

RAPAPORT... Jewelry sales at Titan Company slipped in the fourth fiscal quarter as news of the pandemic weighed on consumer sentiment in March. Revenue for the jewelry division - which includes the Tanishq, Zoya and Utsava collections- decreased 5% in the three months ending March 31 due to lost sales during the final month of the quarter. As the coronavirus spread, and the World Health Organ...Read More

The range of offers for rebar and wire rod exports from the Commonwealth of Independent States (CIS) region has widened so far in the second half of April.Rebar offers from the CIS have varied widely, but have stayed within the range of $380-410 per tonne fob Black Sea.Some mills are keeping their offers on the lower side to attract customers, while others - mainly from Russia,...Read More

The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More

Diamond bourses organisation, the World Federation of Diamond Bourses (WFDB), has elected Yoram Davash as president.His election took place at a meeting of the executive committee of the WFDB held via Zoom.AdvertisementHe had already been elected president designate at a previous congress of the organisation.Davash succeeds Ernie Blom as president.AdvertisementThe president of the organisation cha...Read More

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click here.Production losses are probably far larger than the figures for known interruptions indicate due to nvisible losses from mines which continue to operate with a reduced wo...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesAdriatic said Thursday it had received a "positive record of decision" from BiH's ministry of environment and tourism for an environmental permit for Veovaca, following an environmental impactRead More