(IDEX Online) - Jewelry group Chow Tai Fook Jewellery Group and the GIA are to use blockchain technology to deliver secure, digital diamond grading reports to consumers for the first time, the GIA said. Clients of Chow Tai Fook's diamond brand, CHOW TAI FOOK T MARK (T MARK), will receive a permanent and immutable blockchain record of their diamond's GIA grading information. This inn...Read More
Improved operational results and firmer commodity prices helped boost revenue for the 12 months to March 31 by 33% year-on-year to US$15.4 billion and profit for the year by 67% to $1.5 billion.Read More
JOHANNESBURG (miningweekly.com) – The Chamber of Mines has rebranded and is now the Minerals Council South Africa (MCSA) in line with its quest to reposition the sector as South Africa’s preeminent industrial sector, while building a new legacy and creating a “future that all South African can be proud of”, MCSA president Mxolisi Mgojo announced on Wednesday.He reveal...Read More
The internationalization of iron ore futures traded on the Dalian Commodity Exchange (DCE) emerged as a key discussion topic at the Singapore Exchange's (SGX) 2018 Iron Ore Week. The opening up of the iron ore contract on May 4 followed the announcement earlier this year by the International Energy Exchange (INE), a subsidiary of the Shanghai Futures Exchange, that it would allow non-Chinese compa...Read More
RAPAPORT... Tiffany & Co. raised its sales outlook for the year after higher spending in the US and Asia drove a 15% jump in revenue during the first fiscal quarter.Revenue rose to $1.03 billion year on year for the three months ending April 30, while comparable store sales - at branches open for at least a year - climbed 10%, it said Wednesday. Based on that, the company now expects global sa...Read More
It had said in October that it expected the 2017 annual profit to exceed $1 million for the first time after it sold a record volume of magnetite from its Cobre tailings operations in New Mexico, US, during the September quarter.For the whole of 2017, the company's domestic sales from Cobre totalled $5.6 million, almost tripling from the previous year's $1.5 million.Strategic had a busy 2017, acqu...Read More
(IDEX Online) - Lucapa Diamond Company Limited has found a 25-carat yellow diamond at the Mothae kimberlite mine in Lesotho. Significantly, the gem-quality Special was recovered from the Neck Zone of the Mothae kimberlite, which is not part of the current +1 million carat JORC resource, the miner said. "The diamond was recovered within the first two days of trial processing through...Read More
De Beers Groups’ Forevermark brand has launched Libert’aime by Forevermark – a new flagship store in Shanghai, China.This is the one-thousandth Forevermark store in China and comes as the brand celebrates its ten-year anniversary in the country.AdvertisementLibert’aime by Forevermark offers a diamond jewellery range created to celebrate the spirit of a new generation of wom...Read More
SHANGHAI, May 23 (SMM) – China will slash import tariffs on certain vehicles to 15%, the Ministry of Finance (MOF) said on Tuesday May 22. Cuts will take effect on July 1.This includes the current 25% tariff levied on 135 items and the 20% duty on four items.Tariffs on 79 auto parts will fall to 6%, from current levels of 8-25%. Auto parts that will have lower import duti...Read More
Seaborne iron ore market weakened further on Wednesday May 23 amid increased competition between medium-grade products. Metal Bulletin 62% Fe Iron Ore Index: $64.11 per tonne cfr Qingdao, down by $0.30 per tonne Metal Bulletin 58% Fe Premium Index: $53.04 per tonne cfr Qingdao, up by $0.17 per tonne Metal Bulletin 65% Fe Iron Ore Index: $82.80 per tonne cfr Qingdao, down by $0.60 per tonne Metal B...Read More
Dominic Frisby of Money Week looks at the historical relationship between UK house prices and gold (including some great charts), and concludes that your money is better off in the yellow metal than bricks and mortar.Source: Money WeekToday we return to a subject that has been a favourite of mine over the years: UK house prices - but with a twist.We don't consider them in the debased, devalued c...Read More
(IDEX Online) - Gem Diamonds Limited has recovered a 115-carat, top white color, Type IIa diamond from the Let??eng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world. It is the ninth diamond weighing more than 100 carats recovered so far this year, which already exceeds the total number of diamonds of over 100 carats recovered in 2017. Read More
RAPAPORT... Sarine Technologies, which supplies equipment to diamondmanufacturers, saw revenue rise in the first quarter, driven by increased salesof its Galaxy system in India. Group revenue for the period grew 2% year on year to $16.7million, the Israel-based company reported last week. Sales to India, itslargest market, rose 4% to $13.5 million, outweighing a 42% drop in sales toEurope, which a...Read More
Cobalt 27 has agreed to pay an upfront deposit of US$113 million for 55% of Highlands' share of cobalt production and a 27.5% share of its nickel production from the Ramu mine in Papua New Guinea, under a life-of-mine streaming deal.Read More
SHANGHAI, May 23 (SMM) – Copper: Copper prices rebounded as the US dollar weakened overnight. LME copper touched a high of $6,999/mt as the inventory shrank 2,752 mt following days of increase. It is likely to trade at $6,930-7,030/mt today with strong support while the SHFE 1807 contract is to trade at 51,800-52,200 yuan/mt. Adequate supplies are likely to widen spot discounts to ...Read More
Gold and silver would have reached stratosphere due to developments in Iran and the Korean peninsula. Crude oil induced inflation would have supported gold. It is only a cyclical period that is preventing gold price from rising. Reduction in net short positions in silver should pave the way for a rally anytime. It's a great time to invest in gold and silver for the medium term as well as the lon...Read More
Iranian export steel billet prices picked up in the week ended Wednesday May 23 because of the limited volumes of material available for shipment before August, when renewed trading sanctions are expected to be enforced on the country by the United States.The US withdrew from an international deal on Iran's nuclear power industry on May 8, and has said that it will reimpose its trading sanctions a...Read More
(IDEX Online) - Mountain Province Diamonds Inc. has announced the completion of the winter drilling program at the Kennady North Project. The 100%-owned Kennady North Project was recently acquired through a business combination with Kennady Diamonds Inc. Three drill rigs have been active on the program, with one drill dedicated to delineation drilling on Faraday 2, a second drill de...Read More
RAPAPORT... Russian miner Alrosa has reopened its New York office,holding its first auction in two years at the branch.The company sold 1,040 carats for $10.4 millionat the auction of rough diamonds weighing 10.8 carats or more, it reported Tuesday. A total of 50 companies took part in the sale from April23 to May 11, including firms from the US, Belgium, India, Israel and theUnited Arab Emirates....Read More