RAPAPORT... Sales of jewelry and other luxury items in Hong Kong plunged in May, even as the market showed signs of recovery amid an easing of the city's coronavirus crisis.Revenue from jewelry, watches, clocks and other valuable gifts slid 70% year on year to HKD 2.02 billion ($261 million) for the month, as the halt to tourism continued, and many locals were unemployed or in difficult financial...Read More
RAPAPORT... Alrosa has resumed operations at its International underground mine following a brief suspension after several employees tested positive for Covid-19.Management at the Russian miner's Mirny mining and processing division, which oversees the site, decided to reopen International after the majority of workers tested negative for the virus, Alrosa said Tuesday. A total of 12 employees tes...Read More
RAPAPORT... The Dubai Multi Commodities Centre (DMCC) has signed an agreement with China's Guangzhou Diamond Exchange (GZDE) that will create new trading opportunities for both parties."This agreement will further advance the strong and long-standing cultural and commercial ties that exist between the UAE [United Arab Emirates] and China," said Ahmed Bin Sulayem, CEO of the DMCC and chairman of th...Read More
RAPAPORT... The International Gemological Institute (IGI) is reopening its New York grading laboratory following a three-month closure amid the coronavirus pandemic."As the metropolitan area has been cleared to enter phase 2, the institute is safely restarting business operations," IGI North America president Avi Levy said Monday. Initially, the institute will implement a gradual rollout, limiting...Read More
(IDEX Online) - India's diamond industry is being urged to accept upon itself a third voluntary ban on rough imports.An appeal has been issued to halt all purchases between 10 and 31 July. It follows similar appeals on 23 April and 19 May.An estimated $7bn of rough and polished diamonds have been stuck in India, the world's cutting and polishing capital, since the country first wen...Read More
(IDEX Online) - Swarovski is to axe 600 jobs in response to a "massive" decline in sales.The family-owned Austrian business empire, known for its crystal jewelry and swan logo, will shed almost one in 50 of its 34,500 workforce as it embarks on a restructuring plan.Two hundred jobs will go at its headquarters in Austria's Tyrol region."The international luxury market has been hit hard by the...Read More
(IDEX Online) - Petra Diamonds is seeking a buyer as debts mounts and revenue slumps.The UK-listed company operates the world-famous Cullinan mine in South Africa, source of the largest rough gem-quality diamond ever - the 3,106.75-carat Cullinan Diamond that became part of the British Crown Jewels. In addition, it operates the Finsch and Koffiefontein mines, also in South Africa, and the Wil...Read More
(IDEX Online) - A visitor to one of the world's only dig-your-own-diamond attractions has walked away with a 2.23-carat stone.Beatrice Watkins, 56, was sifting soil at the Crater of Diamonds State Park, Arkansas, USA, a former commercial mine turned visitor attraction that now admits amateur miners for $10-a-day.She unearthed the biggest diamond this year and is allowed to keep it under rules...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe all-stock transaction, valued at about C$140 million, offers 11 SolGold shares per Cornerstone shares and values Cornerstone at $3.90 a share, representing a premium of about 22% over Cornerstone's June 29 closing price."This is an exciting value enhancing opportunity, providing Cornerstone shareholders with a premium over the...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesLike its global peer group that includes Freeport-McMoRan and First Quantum Minerals, Antofagasta is viewed by generalist investors as a bet on global GDP, a way to gain exposure to the economicRead More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesIt said trunk hole KM-20-10 at the South Zone had hit 4.9m at 6.2% copper-equivalent from 480m, 0.6m at 9.6g/t gold-equivalent from 491m and 1.6m at 3.1% Cu-eq from 494m.It said the drillhole was being used as a trunk hole to wedge a number of branch holes aimed at the 1500-foot level previously described by Exxon Minerals.Artemis...Read More
Asian-Pacific equities and pre-market major western equity index futures were stronger this morning, Tuesday June 30, while base metals prices were for the most part firmer too - this despite Federal Reserve chairman Jerome Powell saying the US economy faces “extraordinary uncertainty”. * China’s manufacturing purchasing managers’ index (PMI) climbed to 50.9 in June, from 50.3...Read More
U.S. equity index futures were mixed this morning. S&P futures were unchanged in pre-opening trade.The Canadian Dollar was virtually unchanged at US73.07 cents following release of Canada's April GDP report at 8:30 AM EDT. Consensus was an annualized drop of 12.2% versus a drop of 7.2% in March. Actual was s drop of 11.60%Lululemon gained $12.04 to $304.55 after announcing purchase of Mirror,...Read More
Drilling has intersected massive sulphide mineralization at the South zone of Arizona Metals' (TSXV: AMC) Kay mine property, 69 km north of Phoenix and adjacent to Black Canyon City in central Arizona's Yavapai County.Highlights from the drill program include drill hole 20-10, which intersected 5 metres grading 2.16 grams gold per tonne, 24.9 grams silver per tonne, 2.39% copper, 0.31% lead, and 3...Read More
This week's episode features an interview with Agnico Eagle Mines vice chair and chief executive officer Sean Boyd at the Canadian Mining Symposium, held on Zoom on June 16, 2020. Northern Miner group publisher Anthony Vaccaro asked Boyd about his view on growth, the gold price, the industry's financial outlook and Agnico's company culture.All this and more with online editor Adrian Pocobelli.This...Read More
SolGold (TSX: SOLG; LSE: SOLG) is trying to buy Cornerstone Capital Resources (TSXV: CGP), which owns a minority stake in the Alpala copper-gold project, part of the Ecuador-focused miner's Cascabel asset.The $140 million (US$102 million) all-stock offer, SolGold's second attempt to take over the Ontario-based junior, would see the bidder pay $3.90 for each Cornerstone share. That is a 22% premium...Read More
Having completed its originally planned 6,000-metre, 30-hole drill program at its wholly owned Elmer gold project, Azimut Exploration (TSXV: AZM) is expanding the campaign to 10,000 metres to continue drilling the main target and test previously identified targets.A total of 6,399 metres have been completed so far at Elmer, located 285 km north of Matagami in the James Bay-Eeyou Istchee region of...Read More
Invest Yukon Thought Leadership Panel - Building a Mining Ecosystem from Exploration to ProductionHon. Ranj Pillai, Deputy Premier, Minister of Energy, Mines and Resources, Minister of Economic Development, Government of YukonW. Douglas Eaton, President, CEO and Director, Strategic Metals Ltd.Clynton R. Nauman, Chairman and CEO, Alexco Resource Corp.Dr. Paul West-Sells, President and CEO, West...Read More
SRK Thought Leadership Panel - Beginning At The End: How can we optimize the socioeconomic legacy of mine closure?Boubacar Bocoum, Lead Mining Specialist, World BankKevin P.C.J. D'Souza, Vice President of Security, Sustainability & Environment, Centerra GoldCharlene Wrigley, Group Sustainable Development Manager, Gold FieldsMODERATOR: Jeff Parshley, P.G., C.P.G, Group Chairman and Corporate Con...Read More
B2Gold Thought Leadership Panel - From Zero to One Million Ounces and Raising the Bar Along the WayClive Johnson, President, CEO and Director, B2Gold CorpMODERATOR: Anthony Vaccaro, Group Publisher, The Northern Miner GroupLinks:B2Gold 2020 Annual General & Special Meeting PresentationB2Gold 2020 Annual General & Special Meeting webcastB2Gold 2019 Responsible Mining ReportRead More