Positive sentiment as US jewelers completeholiday orders. Optimistic outlook for season as stock market rallies despiteTrump impeachment trial and trade war. LVMH $16.2B Tiffany buyout demonstratesconfidence in luxury jewelry sector. Macy's and J.C. Penney highlight strong 3Qjewelry performance. Retailers taking more on memo, presenting good opportunityfor New York dealer market. Manufacturers rai...Read More
Polished trading relatively quietfor this time of year. Manufacturing back to normal after Diwali as suppliersprepare for orders after US holidays. Inventory levels down, supporting pricesof better-quality RapSpec A3+ goods. Large volume of lower-quality diamondsstill available. Rough trading stable, with some hope for further price cuts. RoundRead More
RAPAPORT... Sales at Chow Tai Fook were down only slightly in the first fiscal half,as growth in the Chinese market offset a downturn in Hong Kong. Revenue fell 0.6% year on year to HKD 29.5 billion ($3.77billion) in the six months ending September 30, the company said Thursday. Totalsales in mainland China rose 12% during the period, as the Hong Kong-basedjeweler expanded its store network. Same-...Read More
RAPAPORT... Lucapa Diamond Corporation is in advanced discussions withthe Angolan government to secure a majority stake in its Lulo mine, it saidThursday. The company currently owns 39% of the 3,000-square-kilometerproject, which is based in the Lunda Norte region. State-ownedEndiama owns 51%, and private local company Rosas & Petalas holds a 10%share. Lucapa hopes to reachan agreement wi...Read More
RAPAPORT... Christie's brought in GBP 8.3 million ($10.7 million) fromits Important Jewels sale in London on Wednesday, with pearls dominating the event. The priciest was a cut-cornered rectangular step-cut,18.02-carat, D-color, VVS1-clarity, type IIa diamond ring, which fetched GBP881,250 ($1.1 million) against an estimate of GBP 800,000 to GBP 1.2 million($1 million to $1.6 million). Four o...Read More
RAPAPORT... A storied past and popularity as a brand might bethe first things that would attract a potential suitor to Tiffany & Co. ButLVMH has identified another key attribute that made the US jeweler a valuabletarget: its ability to source its own diamonds and track its supply chain."Tiffany is [advanced], due to its very high level ofvertical integration, compared to our own brands," said...Read More
(IDEX Online) - Lucapa Diamond Company has confirmed that it has been holding advanced discussions with the Angolan Ministry of Mineral Resources and Petroleum and Angola's national diamond company Endiama E.P. to secure a majority stake in the Project Lulo joint venture.Lucapa holds a 39-percent interest in the Angolan project and is the operator of the kimberlite exploration joint venture....Read More
(IDEX Online) - If you think the holidays are moving earlier each year, you're not wrong. A survey by the National Retail Federation and Prosper Insights & Analytics reveals that over half of consumers have already started their holiday shopping and nearly a quarter of purchases have already been made. The survey, which took place during the first week of November, found 56 percent o...Read More
(IDEX Online) - Diamond explorer Botswana Diamonds (BOD) and VAST Resources plc (Vast) have agreed the terms of a new agreement for their proposed joint venture in the Chiadzwa / Marange area of Zimbabwe. In October 2018, BOD and Vast concluded an agreement to development Vast's Heritage concessions in the Marange Diamond Fields (the Heritage Concession Agreement). They also agreed a sep...Read More
Semi-industrial and artisanal diamond mining cooperatives in Angola will lose their mining licences if they remain inactive for more than six months, Geology and Mines State Secretary Jânio Correia Victor warned recently. He was speaking in Luanda at the First Meeting on Semi-Industrial Diamond Operations in Angola. “The withdrawal of licences is the solution, if they do not heed the d...Read More
(IDEX Online) - Diamcor Mining Inc. sold 6,055.28 carats of rough diamonds in its second third-quarter sale and tender. The tender generated total gross proceeds of $693,401, resulting in an average price of $114.51 per carat. The company said that the continuing lower than historical average dollar per carat in its tenders results from a higher percentage of smaller, lower quality roug...Read More
JOHANNESBURG (miningweekly.com) – Although strides have been made in reducing mine fatalities, occupational diseases and industry disasters, there is still work to be done in the mining industry’s quest for zero harm, speakers at the Anglo American Tripartite Health and Safety Initiative, said on Thursday.With the industry continuing its pursuit of zero harm, and having to contend with...Read More
HARARE – State-owned Zimbabwe Consolidated Diamond Co plans gem auctions outside the country, including in Asian cities, to widen marketing options amid a market glut that’s steadily made polished stones cheaper.The company must explore and penetrate the international market to boost sales volumes and plans 11 international tenders in 2020, according to acting CEO Rob de Pretto.Adverti...Read More
ASX-listed Lucapa Diamonds has confirmed that it is in talks to potentially secure a majority stake in the Project Lulo joint venture (JV), which holds the primary kimberlite exploration licence for the 3 000 km2 Lulo diamond concession, in Angola.Discussions are currently under way with the Angolan Ministry of Mineral Resources and Petroleum and Angola’s national diamond company Endiam...Read More
Dual-listed diamond explorer Botswana Diamonds and Aim-listed Vast Resources have signed a new agreement in respect of their proposed joint venture (JV) in the Chiadzwa Marange area, in Zimbabwe.When the detailed agreement between Vast’s Katanga Mining subsidiary and Zimbabwe Consolidated Diamond Company becomes effective, Botswana Diamonds will be issued with new shares representing 2.5% of...Read More
United States President Donald Trump’s signing of bills to support Hong Kong’s protestors may undermine or delay progress in US-China trade talks; this seems to have become a headwind for equities this morning, Thursday November 28, but so far, with the exception of nickel, it has not dragged down base metals prices on the Shanghai Futures Exchange.Most of the Asian equity markets we fol...Read More
Galena provides a leading lightSPONSOREDgalena miningCEO Philip Pascall said the company was looking for strategic partners which could include teaming up with Rio to develop projects in Peru, reported Reuters and the Financial Times.Read More
Galena provides a leading lightSPONSOREDgalena miningOZ said it was looking at "value, not tonnes", and today's announcements of mines, deals and targets were a confirmation of its low-risk, modest cost Carajas Hub strategy.Read More
November 28, 2019 - Brixton Metals Corporation (the “Company“) (TSXV: BBB) (OTCQB: BBBXF) is pleased to announce the closing of its previously announced private placement on November 6, 2019 of common shares and flow-through common shares of the Company for gross proceeds of $1,697,079.92 (the “Private Placement“) through the issuance of 6,987,833 flow-through shares ("FT S...Read More
For almost 20 years, Keith Barron has been hunting for two famous gold-mining centres in Ecuador that historic Spanish manuscripts and maps from the 16th and 17th centuries refer to as Sevilla del Oro and Logrono de los Caballeros.In late November, the chairman and CEO of Aurania Resources (TSXV: ARU) announced that field teams had found an old road in the central part of the company's Lost Cities...Read More