Sentiment cautious, with selective interestin smaller sizes. Surplus of +11 goods has placed pressure on prices. Firmstrading rough rather than manufacturing, creating shortages in certain meleecategories. Slow demand for diamonds under 0.50 carats, but better sales ofround, 1 ct. stones. Dealers seeing stronger orders from US than China, withcertified goods easier to sell than uncertified. Liquid...Read More
RAPAPORT... Gem Diamonds has announced the sale of a 13.33-carat pinkdiamond, discovered in February at its mine in Lesotho, for $8.8 million. The tender sale, which took place in Antwerp, represents a record per-caratprice of $656,933 for the company, it said Thursday. The result builds on a successful 2018 for Gem Diamonds, which morethan doubled its profits to $46.6 million, it reported. The mi...Read More
RAPAPORT... Alrosa has begun accepting payments in euros, as it continues to test the waters with currenciesother than dollars. The move, which currently extends to only one of its Chinese clients, is an attempt to avoid theconsequences of future US sanctions on the Russian miner, according the SouthChina Morning Post. That publication identified the client as Hong Kong-based jewelryretailer...Read More
On March 14 the Mining Association of Canada released the latest edition of its annual Facts & Figures report that provides a comprehensive overview of the trends affecting Canada's mining sector. It contains the unwanted truth that this country's competitiveness continues to erode.Canada is losing its ability to seize new opportunities for growth and it is essential the federal and provincial gov...Read More
China's domestic hot-rolled coil prices mixed on Thursday March 14 with those in the eastern region slipping while the northern market held steady. The export market strengthened with deals being concluded at higher prices. DomesticEastern China (Shanghai): 3,830-3,850 yuan ($571-574) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,760-3,780 yuan per tonne, unchanged Sellers in easter...Read More
RAPAPORT... Pandora chairman Peder Tuborgh is set to leave the Danishjewelry maker. This comes just one month after the company appointed veteranconsumer-brand executive Alexander Lacik as its new CEO. These significant leadership changes form part of thecompany's strategic initiative to combat disappointing sales figures, asluggish retail market, and problems with its new jewelry lines. In 2018...Read More
Africa-focused Gem Diamonds (LON:GEMD) has sold a 13.33 carat pink diamond recovered at its flagship Let??eng mine in Lesotho last month for $8.8 million.The high-quality pink colour type I diamond sold at a tender in Antwerp, Belgium, achieving a record price per carat of almost $657,000.Let??eng mine is well-known for yielding some extraordinary diamonds, such as the 910-carat "Lesotho Legen...Read More
JFE Meranti is a newcomer to the coated steel coil sector, and it expects its first years to be challenging while it works to achieve the lion's share of Myanmar's up-and-coming market for coated steel products, chief executive and managing director Sebastian Langendorf has told Fastmarkets.Langendorf was speaking in an exclusive interview at JFE Meranti's Singapore headquarters in the Marina Bay...Read More
RAPAPORT... Signet Jewelers has appointed Joan Hilson chief financialofficer, as part of an effort to strengthen its leadership team. The former David's Bridal executive - who also managed finances forAmerican Eagle Outfitters and Victoria's Secret - will begin at the company onApril 4. The outgoing chief financial officer, Michele Santana, will continuein her role until then, and will remain with...Read More
RAPAPORT... Sales from the Grib diamond mine in Russia showed little change in 2018, coming in at $300 million as prices of smallerstones faltered. "Grib Diamonds rough is concentrated by value in the smaller end, which was under pressure from mid-2018," Antony Dear, head of sales at the mine's marketing unit, Grib Diamonds, told Rapaport News Tuesday. "Our prices reflect this, and were overa...Read More
Researchers of the Fraser Institute reported that for the first time in more than five years, all three territories in Canada's north are among the top 15 most attractive regions for mining investment worldwide. This includes areas that hold potential for investments in diamond mining. Every year, the Fraser Institute surveys miners around the world to determine which jurisdictions are attractive...Read More
LSE-listed Gem Diamonds on Wednesday posted a significant surge in earnings as it delivered record diamond recoveries for the year ended December 31, 2018.The diamond miner reported a profit for the year of $46.6-million, compared with the $20.8-million achieved, before exceptional items, in 2017, with attributable profit reaching $26-million during the year under review.AdvertisementUnderlying e...Read More
ALROSA, the Russian diamond miner, held an auction in Vladivostok for rough diamonds over 10.8 carats. The overall revenue amounted to $9.1 million. The company auctioned 125 rough diamonds, weighing 2,090 carats total, to 24 companies from the largest centers of the diamond trade. "The first auction this year in Vladivostok completed with good results. The assortment is still in demand among the...Read More
A delegation of the heads of the Israel Ministry of Economy and the leadership of the Israel Diamond Exchange (IDE) visited Angola earlier this month and met with key officials in the country's rough diamond sector. Initiated by IDE, the visit's objective was to take advantage of changes in Angola's diamond marketing policy and consequently increase direct rough diamond sales to Israel. The delega...Read More
The Women's Jewelry Association (WJA) hosted the inaugural Women Executives Forum in New York City to build purposeful relationships among top women leaders across the jewelry and watch sectors. Held in celebration of International Women's Day, nearly 25 leaders discussed ways to:?EUR? Identify and develop female leaders?EUR? Prepare for the future of jewelry retail - and the rise of th...Read More
Gem Diamonds announced it sold a 13.33 carat pink diamond recovered at the Letseng mine in February 2019 at a tender in Antwerp for US$ 8,750,360. This represents a record dollar per carat price of US$ 656,933 for a Letseng diamond. Earlier this week, the firm published its year-end results for 2018,reportin a revenue of $267.3 million, compared to $214.3 million in 2017. Gem Diamonds It recovered...Read More
The AIGS Lab has launched an app that can verify AIGS gemstone reports, creating additional protection for customers. The app can verify the following AIGS reports: AIGS Master Gemstone Report (MGR and MGRS), AIGS Full Report, AIGS Diamond Report, AIGS Master Jade Report (MJR), and AIGS Brief Report. Customers who download the app may scan their report in order to verify that it is genuine. Third-...Read More
Alkane maps own path to world-class critical metals producerSPONSOREDalkane resourcesThe company said optimising mining and processing represented some 52% of the synergies, or $250 million a year. Within this, integrated mine planning will save $140 million a year, some 29% of the total.It will prioritise high-grade underground ore feed through the Goldstrike and Carlin Mill 6 roasters, minimisin...Read More
"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftHudbay said it would buy United Copper & Moly's 7.95% stake for $45 million in cash upfront and three annual payments of $10 million from July 2022.President and CEO Alan Hair said the simplified ownership structure improved Hudbay's financial flexibility to develop Rosemont and it hoped...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 transactions: iron oreIron oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at $89.50 per tonne cfr China, laycan April 10-19.Vale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 65% Fe Iron Ore Carajas, traded at $98...Read More