Wholesale prices for lab-grown diamonds have fallen by up to 60 percent since De Beers began selling synthetic stones for jewellery in September, CEO Bruce Cleaver said on Thursday, adding margins for the sector would continue to fall.De Beers, part of mining group Anglo American, shocked the diamond industry last year when it announced it was reversing a decades-old policy of selling natural diam...Read More

RAPAPORT... De Beers' earnings fell in 2018 due to the costs of new initiatives such asits Lightbox synthetics business.Underlying earnings slid 34% to $349 million, as capital expenditure rose 53% to $417 million for the year, the company reported Thursday. That included outlays related to the launch of De Beers' lab-grown jewelry brand, as well as its Tracr blockchain program, and Gemf...Read More

Canadian miners continued going down the slippery slope in the last three months of 2018 due mostly to weak commodity prices, triggered by a slowdown in China's economy near the end of the year, the latest report by Ernst & Young (EY) reveals.As a result, EY's Canadian Mining Eye index - which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mi...Read More

Following a board review of the company’s diamond assets, Lucapa Diamond Company will prioritise production and cash generation from its two high-value diamond mines, the Lulo alluvial mine, in Angola, and the Mothae kimberlite mine, in Lesotho, to ensure shareholder value is maximised.This entails advancing the year-round Lulo kimberlite exploration programme to identify a possible source o...Read More

De Beers Group's latest course 'Synthetic Diamond Detection', is to be held at the Birmingham Assay Office on Tuesday 26th March 2019. The one-day intensive course has been designed by the De Beers Group Institute of Diamonds, in response to the rise in synthetic diamonds and the risk they pose to the integrity of the jewelry industry.  Marion Wilson, Director of AnchorCert Academy, Birmingh...Read More

The Fancy Color Research Foundation (FCRF) contends that within a quarter of a century the majority of the 45 most notable diamond mines operating today will cease to exist. According to the FCRF, diamond prices will rise as supply wanes. The report states that no new 'mega-mine' is expected to be found in the foreseeable future. On the other hand, the world's wealthy population is expected to con...Read More

The Doha Jewellery and Watches Exhibition (DJWE) opened its 16th edition on February 20 at the Doha Exhibition and Convention Center (DECC). Representing the beginning of a new chapter with the 2019 edition, the organizers announced the launch of a new brand identity for the exhibition, including a new brand name: ''Qatar Show.'' The six-day B2C event, held under the auspices of the Qatar National...Read More

RAPAPORT... Lucara Diamond Corp. has unearthed a 223-carat, high-qualitywhite diamond from its Karowe mine in Botswana. "[This year] is off to a great start, with several high-qualitydiamonds in excess of 100 carats having been recovered by mid-February, atestament to the strong, stable operating environment that has prevailed atKarowe since late 2018," Lucara CEO Eira Thomas said Tuesday. Th...Read More

Next week, ten thousands of international gem and jewelry industry buyers will touch down in Hong Kong to take part in the sixth Hong Kong International Diamond, Gem & Pearl Show, opening on February 26, and two days later in the 36th Hong Kong International Jewellery Show. Both exhibitions are organised by the Hong Kong Trade Development Council (HKTDC). The sixth HKTDC Hong Kong Internationa...Read More

RAPAPORT... Lucapa Diamond Company has recovered a 128-carat whitediamond from its Lulo alluvial mine in Angola, the company said Tuesday. The type IIa stone, which it found at the deposit's Mining Block6 region, is the miner's 12th over 100 carats to date. Lucapa also recently unearthed a 7.5-carat, fancy-purple-pink diamond in the same portion of themine, it said. The company will likely s...Read More

The AWDC reported that currently, Mexico mainly imports polished diamonds from the United States. This Royal Mission is therefore an apt opportunity to promote the Antwerp diamond trade in Mexico and to encourage Mexican diamond traders to purchase their diamonds from Antwerp instead. While Mexico imports about $100 million worth of loose polished diamonds annually, Belgium's market share is curre...Read More

Canadian miners continued going down the slippery slope in the last three months of 2018 due mostly to weak commodity prices, triggered by a slowdown in China's economy near the end of the year, the latest report by Ernst & Young (EY) reveals.As a result, EY's Canadian Mining Eye index - which tracks the performance of 100 Toronto Stock Exchange and TSX Venture Exchange mid-tier and junior mi...Read More

Iron ore prices continued to retreat on Thursday February 21, with Chinese steelmakers cautious abouthigh costs.MB 62% Fe Iron Ore Index: $86.68 per tonne cfr Qingdao, down $1.32 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.08 per tonne cfr Qingdao, down $1.32 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $88.36 per tonne cfr Qingdao, down $0.74 per tonne. MB 58% Fe Premium Index: $77.23...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 65% Fe Iron Ore Carajas, traded at $99.80 per tonne cfr China, bill of lading...Read More

Authorities from Dalian Customs have announced the import quota across the five ports under its jurisdiction for the 2019 calendar year at no more than 12 million tonnes, down from 16 million tonnes in 2018, sources told Fastmarkets on Thursday February 21.Port of Dalian: 950,000 tonnesPort of Bayuquan: 6.5 million tonnesPort of Panjin: 750,000 tonnesPort of Dandong: 3 million tonnesPort of Beilia...Read More

Seaborne coking coal prices rose on Thursday February 21 amid a suspension of operations at a mine in Queensland, Australia and with the emergence of a smaller quota for imported coal in a major city in northeastern China.An April-laycan cargo of a top Australian brand was sold at $215 per tonne cfr China to a Chinese trader via a miner's tender during the day, according to various sources.A cargo...Read More

In a belated response to falling fresh-water levels in desert areas, Chile is moving to protect a natural resource that has been depleted after decades of mining activity.With complaints from local communities rising and the effects of climate change worsening, the world's largest copper producer is planning to implement measures that will make it more difficult for miners to pump fresh water.Chil...Read More

A correction is underway in the three-month base metals prices traded on the London Metal Exchange with prices off by an average of 0.5% on the morning of Thursday February 21, compared with Wednesday’s closing levels. This morning’s price pullbacks follow a day of strength on Wednesday when the complex closed up with gains averaging 1.2%, which saw copper pushed up through the top of re...Read More

China's domestic rebar prices rebounded on Thursday February 21 amid a pick-up in demand. Domestic Eastern China (Shanghai): 3,700-3,740 yuan ($550-556) per tonne, up 30-40 yuan per tonneNorthern China (Beijing): 3,700-3,720 yuan per tonne, up 20 yuan per tonneGains in the billet and futures markets coupled with the announcement of higher list prices by steelmakers pushed up spot prices, sources s...Read More

China's hot-rolled coil market maintained its upward momentum on Thursday February 21, with sellers continuing to make attempts to prop up prices amid rising costs.DomesticEastern China (Shanghai): 3,760-3,790 yuan ($559-563) per tonne, up 40 yuan per tonneNorthern China (Tianjin): 3,690-3,700 yuan per tonne, narrowing upward by 20 yuan per tonneSellers in Shanghai started selling at around 3,790...Read More