* Washington prepares to reimpose sanctions on Iran* Mnuchin dismisses concerns about rise in oil prices* U.S. in talks with SWIFT on disconnecting Iran* U.S. adamant no sanctioned transactions occurBy Lesley WroughtonJERUSALEM, Oct 21 (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Sunday it will be harder for countries to get waivers on Iran oil sanctions than during the Obama adminis...Read More
Investing.com - This week precious metals traders will continue to watch developments in equity markets and monitor geopolitical risks after gold prices notched up a third week of gains.Investors will also be focusing on Friday’s data on U.S. third quarter growth, while monetary policy decisions from the European Central Bank and Bank of Canada will also be closely watched.The GDP data is ex...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipGalan Lithium scores coup in Argentina's 'Pilbara of lithium'SPONSOREDgalan lithiumKasbah on cusp of tin riches at world-class AchmmachSPONSOREDkasbah resources The headline intercept measured 513.9m from 33m at 0.64% copper and 0.8g/t gold, or 2.15g/t gold-equival...Read More
RAPAPORT... The New York branch of India's ICICI Bank has sued 11executives of diamond manufacturer Shrenuj & Co. and its associatedcompanies, alleging they engaged in fraudulent transactions. The defendants induced ICICI to extend loans to Mumbai-basedShrenuj's US subsidiary, Simon Golub & Sons, which Shrenuj then diverted tothree shell companies in the United Arab Emirates, the bank clai...Read More
RAPAPORT... Alrosa's sales increased in the third quarter amid strongerdemand and a shift to larger diamonds, the miner reported Monday. Revenue from rough stones rose 12% year on year to $949million for the three months ending September 30, the Russian company said. Whilesales volume fell 11% to 6.7 million carats, the average price of gem-qualitydiamonds grew 18% to $199 per carat. Prices h...Read More
RAPAPORT... Lucara Diamond Corp. will launch its first sale in Novemberusing its new digital platform that allows customers to obtain the exact rough diamondsthey need, it said Monday. The miner will upload a variety of diamonds to its Clarasystem, including stones from its Karowe mine in Botswana. It will also offer roughfrom other sellers, ranging from 1 to 15 carats in higher color grades...Read More
RAPAPORT... Mountain Province's sales dropped at its October tender amid a weaker Indian market, the miner said last week. The company sold 366,505 carats of rough diamonds from its GahchoKu?(C) mine for $24.2 million, at an average price of $66 per carat. It noted price declines for smaller and lower-quality diamonds in the mid-single-digit percentages. "We believe the price pressure is pre...Read More
RAPAPORT... A shorter working month cut into shipments of Swiss watches,which fell in September for the first time in a year and a half, according tothe nation's timepiece trade group. Exports slid 7% to CHF 1.65 billion ($1.66 billion), theFederation of the Swiss Watch Industry reported. Orders from Hong Kong, theSwiss trade's largest market, dipped 3.5% to CHF 205.9 million ($206.7million),...Read More
London-listed Petra Diamonds achieved a solid operational performance in the three months ended September 30 – the first quarter of its 2019 financial year.Production for the period increased by 21% year-on-year to 1.07-million carats, mainly as a result of a 25% increase in run-of-mine production to 1.02-million carats, but offset by planned reductions in tailings recoveries at the company&...Read More
(IDEX Online) - The organizers of CARAT+, the Antwerp trade show which was held for the past two years, said this year's fair will be postponed. The 2019 edition was due to be held from February 10-12. "For the past two years, Easyfairs and the CARAT+ team have been investing hard work, time and energy to create and develop a unique diamond-centered event in Antwerp," the organ...Read More
RAPAPORT... Sotheby's achieved its highesttotal for a Fine Jewels auction as an emerald ring sold for more than doubleits estimate in New York. The piece featured a lozenge-shaped,10.68-carat Colombian emerald with a baguette diamond on each side. It fetched $1.2million against a presale estimate of $300,000 to $500,000, realizing anaverage price of $113,764 per carat, the auction house said...Read More
(IDEX Online) - ALROSA, the world's largest diamond mining company, is starting the fourth auction this year for the sale of special size rough diamonds (over 10.8 carats) in Vladivostok. The auction will start on October 22, and the results will be announced on November 2. The company will offer for sale 166 gem-quality rough diamonds with a total weight of 2,607 carats, inclu...Read More
(IDEX Online) - The GIA has announced that Chinese retailer LAELIM Jewelry and Belgian diamond manufacturer IGC Group will pilot GIA's M2M program that allows for complete transparency and traceability of diamonds along the value chain. It is one of the first instances where a manufacturer and retailer have implemented the M2M program in partnership, the GIA said. A select number o...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company has started commissioning of the 1.1-million-tonne-a-year treatment plant at its Mothae kimberlite diamond mine, in Lesotho.First commercial diamond recoveries are slated for early November.AdvertisementMore than 4 100 ct of diamonds have been recovered from the bulk sampling of areas within the Mothae kimberlite pipe, which had...Read More
RAPAPORT... Alrosa's sales increased in the third quarter amid strongerdemand and a move toward larger diamonds, the miner reported.Revenue from rough stones rose 12% year on year to $949million for the three months ending September 30, the Russian company said Monday. Whilesales volume fell 11% to 6.7 million carats, the average price grew 26% to $142 per carat. Prices have climbed 5.2% sinc...Read More
RAPAPORT... Lucara Diamond Corp. will launch its first sale in Novemberusing its new digital platform that allows customers to obtain the exact rough diamondsthey need, it said Monday. The miner will upload a variety of diamonds to its Clarasystem, including stones from its Karowe mine in Botswana. It will also offer roughfrom other sellers, ranging from 1 to 15 carats in higher color grades...Read More
TSX-listed Lucara Diamond Corp will hold the first diamond sale through its 100%-owned digital sales platform, Clara Diamond Solutions, in November.It has invited a select group of large vertically integrated jewellery houses and global diamond manufacturers to participate in the sale.AdvertisementClara is designed to achieve a sustainable premium over existing sales channels, including tenders an...Read More
(IDEX Online) - Lucara Diamond Corp. said its Clara Diamond Solutions, a 100% owned digital sales platform, will start operations in November with a select group of large vertically integrated jewelry houses and global diamond manufacturers. Clara is designed to achieve a sustainable premium over existing sales channels, including tenders and long-term supply contracts for sellers, and del...Read More
Steel billet prices in major global markets resumed their downtrend or remained stable during the week from Monday October 15 to Friday October 19, with few deals concluded and importers generally staying out of the market.China was the exception, with its domestic prices strengthening amid lower inventory levels within the country.AsiaImport prices for steel billet in Southeast Asia were flat dur...Read More
Steel billet prices in major global markets resumed their downtrend or remained stable during the week from Monday October 15 to Friday October 19, with few deals concluded and importers generally staying out of the market.China was the exception, with its domestic prices strengthening amid lower inventory levels within the country.AsiaImport prices for steel billet in Southeast Asia were flat dur...Read More