Mining Companies in Canada, Gold Mining Stocks & Junior Miners

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Kimberley Process Intersessional to Go Virtual

March 17, 2020 / www.diamonds.net

RAPAPORT... The Kimberley Process (KP) Intersessional Meeting will take place as a virtual conference this year, as European borders close to travelers due to the coronavirus pandemic.The annual forum, in which member states, civil societies and the diamond industry come together, was scheduled to take place in Moscow from June 8 to 12."COVID-19 is a global challenge without parallel in our l...Read More

Pandora Nixes Guidance, Closes Stores

March 17, 2020 / www.diamonds.net

RAPAPORT... Pandora has rescinded its revenue guidance for 2020, as the coronavirus pandemic has hit sales and forced it to shut stores temporarily, it said Monday.In February, the company had forecast revenue would fall between 3% and 6% for the year."Pandora's financial guidance announced on February 4, 2020, excluded any impact from COVID-19," the company noted. "As a consequence of the global...Read More

Israel Bourse Offers Two-Month Fee Discount

March 17, 2020 / www.diamonds.net

RAPAPORT... The Israel Diamond Exchange (IDE) has temporarily reduced fees for members due to the severe slowdown in trading resulting from the coronavirus outbreak.IDE president Yoram Dvash announced a 50% discount on membership charges and a 33% drop in maintenance fees for March and April. "We're talking about significant financial steps that add up to millions of shekels going straight in...Read More

Sotheby's Postpones Magnificent Jewels Auction

March 17, 2020 / www.diamonds.net

RAPAPORT... Sotheby's has rescheduled its Hong Kong Magnificent Jewels sale and other jewelry auctions amid new restrictions on public gatherings due to the coronavirus pandemic."We are closely monitoring the advice of government and health authorities in the countries and cities where Sotheby's is located and adjusting our business and operations accordingly," the auction house said Monday....Read More

Coronavirus: India's Diamond Exports Slump 40 per cent

March 17, 2020 / www.idexonline.com

(IDEX Online) - India's gross exports of cut and polished diamonds slumped by more than 40 per cent last month because of the Covid-19 pandemic.Totals were down from $2.34bn in February 2019 to $1.38bn for this February, according to The Gem & Jewellery Export Promotion Council (GJEPC).But exports of gold jewelry were up, as were overseas sales of polished lab-grown diamonds, albeit from...Read More

Alrosa Allows Buyers to Defer 60 per cent of Rough Purchases

March 17, 2020 / www.idexonline.com

(IDEX Online) - Russian mining giant Alrosa is allowing buyers to defer up to 60 per cent of their allocations at its regular contract sales.The move, effective as of yesterday's sale, is a sign of market uncertainty. In times of stability customers have been able to defer only 20 per cent of the stones offered.Alrosa, which last week reported a 31 per cent slump in 2019 profits, says b...Read More

Coronavirus: AGS Cancels Conclave

March 17, 2020 / www.idexonline.com

(IDEX Online) - The American Gem Society (AGS) has canceled its Conclave, an annual education, social and networking event for jewelry traders.The event had been due to take place on April 27-29 in Denver, Colorado.Organizers took the decision amid growing concerns over the Covid-19 pandemic and said they were exploring the online option of a virtual mini-conference instead.Details of the 20...Read More