Investment mainly went to development (54%), exploration (38.4%) and infrastructure (23.4%) said the ministry in its Mineral Statistics Bulletin.Read More
The firm posted adjusted earnings per share (EPS) of minus $0.03 in the second quarter, lower than the market consensus of $0.Read More
Investor Insight: InterGroup MiningSPONSOREDintergroup miningSky the limit for AuTECO in CanadaSPONSOREDauteco minerals ltdEmerging SA gold developer Barton Gold breaks the mouldSPONSOREDbarton gold holdings limitedAlicanto wows with maiden resourceSPONSOREDalicanto mineralsCairns disclosed his copper market view while speaking to investors recently about his exploration endeavours in western Vict...Read More
News: Diamond market cautious amid China slowdown and US economic uncertainty. Polished prices declining. Inventory remains high. IIJS show reflects upbeat Indian jewelry market and spurs optimism for Diwali. Cutters maintaining lower production and anticipate strong demand for De Beers rough at next week's sight. Speculation that large manufacturers able to purchase Alrosa rough through non-doll...Read More
RAPAPORT... Israel's diamond exports saw a rare decline in July amid a slowdown in the global market.Polished shipments out of the country - after returns of unsold goods - fell 7% year on year to $296.6 million for the month, the Ministry of Economy and Industry reported last week. The volume of exports dropped 12% to 131,799 carats, and the average price increased 6% to $2,251 per carat. Wh...Read More
RAPAPORT... Lucara Diamond Corp.'s profit more than doubled year on year in the second quarter amid strong demand and a higher proportion of proceeds coming from the sale of polished diamonds through its supply contract.Net profit reached $12.5 million for the three months ending June 30, compared with $6 million the year before. Revenue jumped 13% to $52.3 million, the company said Wednesday. Whi...Read More
RAPAPORT... Mountain Province's net profit rose 1% year on year to CAD 22.6 million ($17.6 million) in the second quarter as the global diamond market rebounded and rough prices firmed.Sales jumped 30% to CAD 97.8 million ($76 million), the Canadian miner reported Tuesday. The company registered an average selling price of $130 per carat for the three months, 78% higher than a year earlier. T...Read More
Investor Insight: InterGroup MiningSPONSOREDintergroup miningEmerging SA gold developer Barton Gold breaks the mouldSPONSOREDbarton gold holdings limitedSky the limit for AuTECO in CanadaSPONSOREDauteco minerals ltdAlicanto wows with maiden resourceSPONSOREDalicanto mineralsOn a per share basis, the company recorded a loss of $0.09, with that having dropped for a loss of $0.03 a year earlier.Canac...Read More
RAPAPORT... The State Bank of India (SBI) has begun financing synthetics producers and is thought to be the country's first lender to draw up a formal policy for the sector.The government-owned bank will fund purchases of equipment such as growing machines, a source at SBI told Rapaport News Wednesday on condition of anonymity. It will not yet finance the procurement of lab-grown rough. Lendi...Read More
(IDEX Online) - A necklace set with 35 green jadeite beads and 7.70-cts of white diamonds sold for $2.3m at Sotheby's Hong Kong.It was the top seller in an Important Jewels auction that realized a total of $18.1m.Jadeite, a more valuable form of jade, is among the priciest of gemstones, and can be more expensive than diamonds.In 2014, a jadeite bead necklace that belonged to Woolworth he...Read More
(IDEX Onlie) - Lucara says profits more than doubled for the last quarter, up from $6m to $12.5m as the strength of the market outweighed economic uncertainties.The Canada-based miner reported a 13 per cent increase in revenue for the three months ending 30 June, up from $46.3m to $52.3m (figures are US dollars).It said strong rough and polished diamond market fundamentals were continuing, despite...Read More
(IDEX Online) - Staff at jewelry stores in Auckland, New Zealand, have been targeted in a series of brutal raids in recent weeks.A worker is receiving counselling for the trauma, and one owner has closed their store as a result, according to the Stuff news website.Video from one raid (see pic) shows perpetrators running to their getaway car in broad daylight. One of them, armed with a ha...Read More
Revenues for the first half of 2022 were down 30% to US$2.53 billion from US$3.59 billion in the first half of 2021.Read More
Second quarter EBITDA came in at US$301.2 million, above the market consensus of $296 million and 4% higher than the same quarter a year earlier.Read More
U.S equity index futures were higher this morning. S&P 500 futures were up 22 points in pre-opening trade.U.S. equity index futures were virtually unchanged following release of the July U.S. Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 1.1% in June. Actual was a drop of 0.5% . On a year-over-year basis consensus was an increase of 10.3% versus a gain...Read More
Prismo Metals (CSE: PRIZ) is preparing to drill-test an important near-surface target at its flagship Palos Verdes gold project in Sinaloa state, Mexico, after receiving an extension to its environmental permit in late July.The drill program is designed to test the Palos Verdes vein and a structural intersection with a second vein at depths where the company believes it can test a prominent, highe...Read More
Fuse Cobalt (TSXV: FUSE; US-OTC: FUSEF) has signed a memorandum of understanding with Electra Battery Materials (TSX: ELBM; NASDAQ: ELBM) for the supply of raw cobalt material.Fuse is exploring the Teledyne and Glencore Bucke projects located in Cobalt, Ont., which are near Electra's cobalt sulphate refinery in Temiskaming Shores.The MOU contains the framework of a future transaction that would se...Read More
Monarch Mining (TSX: GBAR; US-OTC: GBARF) has released a mineral resource estimate for its 100% owned Croinor gold project located 55 km east of Val-d'Or, Que. The resource estimate is based solely on potential underground mining and was prepared using all available information, including results from the latest drilling programs.Resources in the measured and indicated category amount to 903,600 t...Read More
Lucara Diamond (TSX: LUC) is moving towards the main shaft sinking phase of the underground expansion project at its Karowe mine in Botswana, which will extend the operation's life for 20 years - until 2040.The company said it had invested US$29.1 million in the project during the three months to end-June, with activities focused on the sinking of the main shaft and construction of the upgraded tr...Read More
Russia's invasion of Ukraine has shone a spotlight on energy security throughout Europe and the Americas. World leaders are finally paying attention to their reliance on Russia for energy and critical minerals, and they don't like what they see. Sanctions against Russia should continue and depending on how long and drawn out the invasion is, they may heighten. To date, Russian gold has been targe...Read More