Liquidity tight as companies prepare accounts ahead of March 31 financial year-end. Coronavirus affecting cash flow, with Chinese clients delaying payments or returning unsold goods. Travel restrictions reducing presence of foreign buyers in Mumbai. Strict customs controls and volatile rupee (-2.6% since February 1 to INR 73.4 / $1) creating challenges for cross-border trade. Steady supply of new...Read More
RAPAPORT... The Gemological Institute of America (GIA) has canceled next week's career event in New York due to the coronavirus.The GIA Jewelry Career Fair was due to take place on March 13. It targets job seekers in the greater New York City area, and is open to the public. The organization plans to find a new date for the event. "We believe this is in the best interest of all participants'...Read More
RAPAPORT... Tiffany and Co. veteran Victoria Wirth Reynolds will become the company's first female chief gemologist, it said Tuesday. Reynold joined Tiffany in 1987, working in the custom-design department before moving to the diamond office, where she worked as a grader. She held a variety of other positions, before being promoted to vice president of global merchandising for high jewel...Read More
RAPAPORT... Reforms to Angola's diamond industry have boosted the country's tax revenue by 42% over the past two years, according to national diamond-trading company Sodiam.While the previous method required all miners to sell rough to only eight "preferred customers" chosen by the government, the new policy instituted in 2018 enables them to sell to a wider range of buyers. This eliminated t...Read More
RAPAPORT... Pandora is embarking on a major streamlining process aimed at speeding up its ability to act on customer feedback, the jeweler said Wednesday.The Danish company will close its three regional offices - management centers that oversee stores in specific parts of the world - to eliminate a layer between upper management and customers, it noted. It will cut 180 workers as a result."[T...Read More
(IDEX Online) - More than 500,000 diamond workers are threatening strike action in Surat, India, to demand an end to "unfair" taxation.They're planning three days of walkouts and closures from 15 March in the world's cutting and polishing capital, according to the Times of India.Last year 13,000 diamond workers in the city were laid off because of weak market conditions.The Surat R...Read More
(IDEX Online) - The Danish jewelry retailer Pandora is to axe 180 office jobs, in a bid to reduce "organisational complexity".The company, which has 22,000 employees, started as a family-run shop in Copenhagen, and is known for its customizable charm bracelets, designer rings and necklaces.It says it will close its three regional offices in April, in a move that will cost $30m, to streamline its g...Read More
(IDEX Online) - Angola's diamond trading reforms have seen a steep rise in revenue, with 120 companies now eligible to buy stock that was previously available to just eight "preferential customers".Sodiam, the state-owned diamond company, says gross revenue has averaged an 8.5 per cent increase since the new trading policy was introduced in 2018. Total gross revenue for 2019 was $1.29 billion...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe inferred resource is up 90% to 373.6 million tonnes at 0.31% copper, 58.5 grams per tonne molybdenum and 0.05gpt gold, using a 0.2% copper cut-off.Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesChina's economic activity has reduced to the extent that there have been news reports the government asked copper producers in Chile and Peru—which supply 50% of its copper concentrates—toRead More
Broad-based government action to lower interest rates and make money available to the markets have helped underpin the financial system and confidence, and that has led to some risk-on in some sectors this morning, Thursday March 5. Following on from the United States Federal Reserve’s emergency 50-basis-point rate cut on Tuesday, Wednesday saw the US House of Representatives approve an emerg...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 76 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was 212,000 versus 219,000 last week. Actual was 216,000. Consensus for Fourth Quarter Non-farm Productivity was growth at an annualized rate of 1.4% versus a de...Read More
Financier Eric Sprott is putting some of his money behind Orefinders Resources (TSXV: ORX) and the junior explorer's properties in the Kirkland Lake district of Ontario.Sprott has taken an 8.01% of the company's issued and outstanding common shares on a non-diluted basis and about 11.64% on a partially diluted basis."He's had tremendous success in the Kirkland Lake camp and that's clearly what got...Read More
Mark Bristow used his keynote address at the 2020 PDAC conference to stress the importance of exploration for miners."It's geologists and exploration that drive value creation and delivery in our industry," said Bristow, president and CEO of Barrick Gold (TSX: ABX; NYSE: GOLD). "The need to invest in its human capital as well as the physical activity itself is pressing.""Discovery and development...Read More
Canada's Minister of Natural Resources Seamus O'Regan made his first appearance at the Prospectors and Developers Association of Canada (PDAC) convention in Toronto last week, knowing he would be under the spotlight as the new man in town from Ottawa. Since taking on the ministerial portfolio last November, O'Regan has faced a series of issues that affect the resources industries in Canada, most n...Read More
The Republic of Guinea has selected a China-backed consortium to develop blocks 1 and 2 of the Simandou deposit, which holds estimated reserves of more than 2 billion tonnes of high-grade iron ore.The SMB-Winning consortium includes Singapore-based owner Winning Shipping, Chinese aluminum producer Shandong Weiqiao, China's Yantai Port Group, and Guinea-based transport and logistics firm United Min...Read More
Among the many challenges facing the minerals exploration and mining industry, Environmental, Social and Governance (ESG) issues are receiving increased attention, with ESG programs now critical components of a company's strategy and business planning.The Prospectors and Developers Association of Canada (PDAC) convention in Toronto offered several ESG and sustainability-themed sessions focussed on...Read More
Australian gold producer and rare earths developer Alkane Resources (ASX: ALK) is a step closer to developing its Dubbo project after Australia's export credit agency confirmed its interest in financing the proposed mine.Dubbo, in central New South Wales, is an advanced polymetallic project with large in-ground resources of zirconium, hafnium, niobium, yttrium and rare earths.Due to the size of th...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesFinancing risks can be managedSPONSOREDHenry is the eighth chief executive in 23 years at the world's biggest miner.Read More
Mauricio Flores, habla en entrevista sobre el impacto econ??mico del coronavirus y si la recesi??n econ??mica es inminente ante la epidemia.05 de marzo 2020COMENTA ESTE VIDEO Y COMPARTELO CON TUS AMIGOSPara m??s informaci??n entra: http://www.youtube.com/excelsiortvNo olvides dejarnos tus comentarios y visitarnos enFacebook: https://www.facebook.com/ExcelsiorMexTwitter: https://twitter.com/Excelsi...Read More