RAPAPORT... Gemfields will resume basic mining operations at its Montepuez ruby deposit in Mozambique following an evacuation due to a rebel attack at a neighboring site.Key personnel have returned to the site and all mining and processing will be restarted in phases as the company assesses the threat in each license area, it said Tuesday. Security workers and the Mozambique police have been stati...Read More
RAPAPORT... Petra Diamonds has extended its latest sale after experiencing "unusual market conditions" in certain rough categories, the miner said Tuesday in a trading update.The company noted "some buildup in inventory [in the industry] pre-Diwali." This prompted it to delay the closing of the tender for some of its gem- and near-gem-quality goods, especially in the 1- to 5-carat ranges, man...Read More
RAPAPORT... De Beers has chosen Academy Award winner Lupita Nyong'o as its first global ambassador. She will star in the company's new brand campaign and support its Building Forever project to advance women and girls in diamond communities.The Where It Begins campaign follows Nyong'o from her discovery of a rough diamond through to its transformation into jewelry, De Beers said Monday. Meanwhile,...Read More
RAPAPORT... Swarovski plans to roll out its lab-grown diamond jewelry collection to 200 stores throughout the US and Canada over the coming year.The Austrian crystal house will also launch jewelry featuring Swarovski Created Diamonds online beginning in November, it said Monday. The expansion follows a successful pilot in key markets across the US, where sales exceeded the company's expectations,...Read More
RAPAPORT... More jewelers and designers are launching unisex collections, expecting gender-neutral styles to be a "massive" trend this holiday season.In this episode of the Rapaport Diamond Podcast, Rapaport Senior Analyst Avi Krawitz and Acting Editor Rachael Taylor discuss the move by several leading brands to introduce genderless jewelry and whether this will prompt other companies to follow su...Read More
(IDEX Online) - Breitling says its new $20,000 Super Chronomat Automatic 38 Origins is the first "fully traceable" watch.The gold is sourced from a single artisanal mine, all the diamonds are from lab-grown supplier Fenix, and buyers get a blockchain-backed NFT as a guarantee of provenance.Sourcemap, which provides transparency solutions for over 100,000 luxury goods companies, is verifying...Read More
(IDEX Online) - Lucky sapphire hunter Matt Betteridge found an 834-carat monster thanks to heavy rains in Queensland, Australia.He was out "specking" - scanning the ground for precious gems - when he chanced upon the stone, which was the size of a "small child's fist". It's been valued at AUD $12,500 (USD $8,000).Speckers often go out after wet weather because rain washes away the topsoi...Read More
(IDEX Online) - De Beers has appointed actress Lupita Nyong'o as its first global ambassador, to front its new Where It Begins campaign.The first Kenyan and Mexican to win an Academy Award for Best Supporting Actress, said it would allow her to extend her advocacy for women and girls around the world."This campaign brings to life the transformative power that I feel when I wear De...Read More
Cerrado eyes feasibility study for Brazil assetSPONSOREDcerrado goldTENDER FOR THE EXPLOITATION OF THE BAUXITE BLOCK OF SANTOU (TELIMELE), GUINEASPONSOREDcenter for mining promotion and development (cpdm)OREN driving tailings facility operators to be proactive in managing riskSPONSOREDorenExcitement as Alma Metals raises funds for more copper exploration SPONSOREDalma metalsThe "Series D" financin...Read More
(IDEX Online) - Swarovski is to roll out its lab grown range of diamond jewelry across 200 stores in the USA and Canada.The launch of the Created Diamonds collection follows a successful pilot program, the company said.Earrings, rings, necklaces, and bracelets featuring diamonds 0.25-cts and larger will be available online from next month and in stores next year. The family-owned crystal and...Read More
It follows last week's decision by shareholder advisory firm Institutional Shareholder Services (ISS) that support of the deal was "not warranted" and that Rio Tinto's offer under-valued the firmRead More
Freeport-McMoRan has led the charge, highlighting that the physical copper market is "so tight" and that customers were "really fighting to get products".Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points in pre-opening trade.Cadence Design Systems $CDNS added $0.63 to $160.85 after reporting higher than consensus third quarter profits and revenues. Discover Financial Services $DFS dropped $1.23 to $94.63 after reporting lower than consensus third quarter results. United Parcel Services $UPS added $7.65 to $1...Read More
The Toronto-quoted equity of Nicaragua-focused Calibre Mining (TSX: CXB; US-OTC: CXBMF) has fallen to a fresh 12-month low following the imposition by the U.S. government of tighter sanctions aimed at stifling the regime of Daniel Ortega.The new U.S. sanctions under President Joe Biden expand a previously signed Trump-era executive order to include specific potential restrictions on trade and inve...Read More
Against a testing backdrop for base metals equities, analysts will be hawkeyed during the upcoming third-quarter earnings reporting, looking for key metrics such as cash flow and cash on hand amid an unforgiving funding environment.According to Haywood Capital Markets analyst Pierre Vaillancourt, considering the economic prospects and pressure on the equities in its coverage universe, Haywood rema...Read More
Ontario has joined a country-wide consultation process to hammer out energy and mining strategies for transitioning to clean power using critical minerals, Canada's natural resources minister said on Tuesday.The province joins nine other provinces and territories who've already signed up for the ministry's Regional Energy and Resource Tables or said they will soon join the effort, Minister Jonatha...Read More
This week's episode features Chris Taylor, advisor to the Discovery Group, in conversation with Northern Miner editor-in-chief Alisha Hiyate at the Global Mining Symposium. Chris was most recently CEO, President and Director of Great Bear Resources Ltd., which was acquired in February 2022 by Kinross Gold Corp. for $1.8B. Currently, Mr. Taylor is Chairman of TSX.V listed companies Kodiak Copper Co...Read More
Skeena Resources (TSX: SKE; NYSE: SKE) has completed this year's regional and near-mine exploration programs at the former Eskay Creek gold-silver mine in B.C.'s Golden Triangle.Skeena said the program extended the 23 zone of mineralization to the surface. Infill hole SK-22-1090 averaged 1.35 grams gold per tonne and 6.6 grams silver (1.2 grams gold equivalent) over 96 metres. The company also sai...Read More
Cypress Development (TSXV: CYP) says it has successfully tested the world's first hydrochloric acid process to extract battery-grade lithium carbonate from clay at its half-a-billion-dollar project in Nevada.The Clayton Valley lithium project about 270 km northwest of Las Vegas is producing lithium carbonate at a 99.94% purity level, Cypress chief executive officer Bill Willoughby said in an inter...Read More
Aya Gold & Silver (TSX: AYA; US-OTC: AYASF) has secured a US$100 million debt financing package to support the expansion of its Zgounder silver project in Morocco. The financing package comprises a senior debt facility of US$92 million from the European Bank for Reconstruction and Development (EBRD), plus a US$8 million tranche from Climate Investment Funds."We are thrilled to be partnering with...Read More