With Elizabeth Warren aggressively on-the-stump, the truly rich had better hold onto their wallets. Now she's pitching student-debt cancellation that would be paid-for with a 2% levy on wealth above $50 million and an additional 1% tax on wealth above $1 billion. Is this the greatest idea since sliced bread, or what? Socialists, even brainy ones like Warren, can't help sounding like morons whene...Read More
I have been writing for quite some time that higher crude oil prices will be a big threat to global economic growth. Iran, Venezuela and Libya crude oil is not there. May to September is the key consumption months for the year. Global economic growth will be derailed if crude oil prices continue to rise. Inflation in Asia will also rise if crude oil prices zoom. Higher crude oil prices is genera...Read More
Full Article: These charts are a big reality check for gold mining stock bullsBy: Frik ElsDespite a widely held view that gold should be trading north of $1,400 this year, since the February peak well short of that target, prices have gone in the other direction.Gold mining stocks have fared slightly better after a flurry of mergers and acquisitions at the top end rekindled interest in the sec...Read More
Remember, some hold this document to be the definitive final word on the silver market. But how could that be if there is no mention of...by Ted Butler via Silver SeekThis past week, the Silver Institute released the annual supply/demand report it commissions each year by GFMS from London. In about a month, the annual silver report compiled by CPM Group should be released. Over time, these two rep...Read More
RAPAPORT... Alrosa will deepen its Akhail underground deposit, extendingthe mine's life by 10 years and adding 20 million carats to the resource. The project will cost the Russia-based miner RUB 10 billion($156.9 million), and will be carried out in phases starting from 2020, the company said Monday. Oreextraction from the lower depths is expected to begin in 2027 and continueuntil 2044. "The pro...Read More
RAPAPORT... Rio Tinto's Argyle mine has yielded the largest gem-qualitywhite diamond in its 35-year history, the miner said Tuesday. The 28.84-carat stone, named Argyle Octavia for itsoctahedral shape, was discovered at the Australia-located mine last month. "This discovery...is a testament to the extraordinary Argyleorebody that continues to deliver these miracles of nature, even as it nears the...Read More
RAPAPORT... The Guangzhou Diamond Exchange (GZDE) has signed a strategiccooperation agreement with China's major synthetics suppliers to develop andpromote lab-grown diamonds in the country, the bourse said Tuesday. The parties signed the contract last week during a forum onthe benefits of synthetic stones that took place during the 2019 ChinaInternational, Gold Jewellery & Gem Fair in Shenzhe...Read More
RAPAPORT... Sarine Technologies expects a loss in the first quarter, amid market uncertainties that led to soft demandfor equipment used in diamond manufacturing. The net loss will be between $1 million and $1.5 million, the company cautioned last week, compared with a profit of $3.1 million reported for thesame period last year. Sarine also predicts revenue of $11 million, which would be 34% belo...Read More
RAPAPORT... The International Diamond Council (IDC) has elected HRD Antwerpchairman Julien Drybooms as chairman of its board. He has also served on the executive committee of the WorldFederation of Diamond Bourses (WFDB) and is the owner of diamond companyDrybooms & Zonen. "I am very pleased to take on this important position and Iam honored to have been elected," Drybooms said last week. "Th...Read More
Ame celebrated the opening of its flagship store at Westfield Century City Mall in Los Angeles, California, earlier this month. Launched in 2018, Ame is a modern fine jewelry brand under the creative direction of Elinor Avni, whose collections "are designed to break free from tradition, allowing diamond jewelry to be worn with freedom and personal style," according to a news release. The fir...Read More
The Gemological Institute of America (GIA) has appointed Shahdeh Ammadi to the newly-created position of director of institute relations. Ammadi will oversee GIA's global alumni program, the GemKids program for young, aspiring gemologists as well as guest services at the GIA headquarters. "The more than 130,000 active GIA alumni in 65 chapters around the world are important ambassadors for ou...Read More
Diamond miner De Beers Group has appointed its COO Nancy Liu CEO of its Forevermark brand.She succeeds Stephen Lussier, who remains De Beers group executive for consumer, brands VP and now also Forevermark chairperson.AdvertisementThis way Lussier will be able to increase his focus on shaping the company’s strategy at consumer level, the company said in a recent statement.“Fortunately,...Read More
Stuller, the Lafayette, Louisiana-based one-stop-gem and jewelry manufacturer and supplier, announced it has become a certified member of the Responsible Jewellery Council (RJC). "Ethical sourcing, supply chain transparency, workplace safety and other similar issues, are of increasing concern to more and more consumers and businesses," Stanley Zale, vice president of diamond and gemstone procureme...Read More
Australia's Argyle diamond mine has produced one of the largest gem quality white diamonds in its 35 years of operation. The 28.84 carat gem quality white diamond was recovered from the east Kimberley mine in March 2019. Named Argyle Octavia in recognition of its beautiful octahedral shape, this rough diamond will be sold by tender in Antwerp later this year. Arnaud Soirat, chief executive...Read More
The Bharat Diamond Bourse (BDB) announced it will host the 2019 Bharat Diamond Week (BDW) from 14 to16 October, just ahead of the Diwali festival. The BDW's second edition of 2018 saw more than 1,000 visitors from India and across the world who did business with 125 Indian exhibitors of polished diamonds. BDB Vice-President Mehul Shah, who heads the Bharat Diamond Week, said: "The timing of...Read More
Alrosa revealed a 118.91-carat gem-quality diamond that is recovered from its "International" mine, which is located close to the town of Mirny in the Sakha Republic of the Russian Federation. The company said that stone, which was found on April 16, is the largest gem-quality diamond on found at the International pipe in the past two years. A similar, large gem-quality diamond, we...Read More
Eastern promise for PolarXSPONSOREDpolarxThe analysts do not expect ‘base case' projects moving through the development phase now to upset long-term copper market balance.They were aware of market concerns about an avalanche of supply creating surpluses and price weakness, but said: "We disagree.Eastern promise for PolarXSPONSOREDpolarx"The mining industry has faced persistent headwinds, ref...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Futures responded to a series of better-than-consensus firsts quarter reports.Whirlpool (WHR $139.36) is expected to open higher after reporting higher than consensus first quarter revenues and earnings. The company also raised guidance. United Technologies (UTX $136.91) is expected to op...Read More
Last week, I talked about a new way that Congress might hurt lots of Americans who have used IRAs to save lots of money and I said this was just the latest in a long list of transgressions against well-prepared retirees. If you happen to be a Baby Boomer with even moderate retirement income, you're probably familiar with one of the biggest examples.Or, if you started collecting Social Security ben...Read More
Bruce Grewcock, chairman and CEO of Peter Kiewit Sons' Inc. and a graduate of Colorado School of Mines, will give the keynote address at his alma mater's Spring 2019 Undergraduate Commencement ceremony on Friday, May 10.A Fortune 500 company and the fifth-largest general contractor in the United States, Kiewit provides construction and engineering services to a variety of markets including buildin...Read More