RAPAPORT... Gem Diamonds' sale of its Ghaghoo mine in Botswana has broken down for the third time in five years.Okwa Diamonds, owned by Vast Resources and Botswana Diamonds, struck a deal with Gem Diamonds last year to purchase the deposit for $4 million. That sale was dependent on Botswana Diamonds securing a funding partner after Vast dropped out, which it failed to do by the May 10 deadline, Ge...Read More
RAPAPORT... The word "metaverse" is suddenly on everyone's lips, but what does it mean and why is it important for the diamond industry? That was the topic for the second episode of "Fast-Tracking the Future," a webinar series sponsored by Sarine Technologies.Titled "Diamonds in the Metaverse," the session explored non-fungible tokens (NFTs) and their potential benefits for the market. The pa...Read More
RAPAPORT... The recent geopolitical storm pushed De Beers to accelerate the expansion of its blockchain platform, chief brand officer David Prager told Rapaport News.The miner recently launched a scaled-up version of Tracr, enabling the industry to trace all De Beers diamonds through to the jewelry store. The business-to-business (B2B) tool lets retailers see a stone's entire path through the supp...Read More
(IDEX Online) - A small-time farmer in the the central Indian state of Madhya Pradesh recovered an 11.88-carat diamond, which has been valued at $65,000.Pratap Singh Yadav said he'd use proceeds from the sale of the stone to set up a business and pay for his children's education.He struck lucky while digging a small patch of land leased from the authorities in the diamond-rich Panna dist...Read More
(IDEX Online) - Overall prices of fancy color diamonds rose by 1.0 per cent in the last three months, double the increase of the previous quarter.Pinks led the price gains, up by 1.3 per cent, during Q1 2022, according to the Fancy Color Diamond Index (FCDI). Yellows were up 0.7 per cent and blues by 0.1 per cent.The New York-based Fancy Color Research Foundation (FCRF) tracks pricing data for fan...Read More
(IDEX Online) - The average spend on a diamond engagement ring in the US last year was $7,011, up 6.1 per cent on 2020, as couples opted for bigger stones, and more lab growns.The size of the center stone diamond size rose, on average, from 1.20 carats to 1.32 carats.And almost a quarter of couple are choosing a lab grown stone, according to research for BriteCo, an insurance technology company. T...Read More
"In addition to an underlying strengthening of the Brazilian Real during the first quarter, our operating costs faced the same inflationary headwinds experienced globally across all industries," Ero'sRead More
After producing 55,602 tonnes of copper in concentrate in Q1—which compares to 105,884 tonnes for the full year of 2021, Ivanhoe expects to reach the upper end of 2022 copper production guidance of 290,000-340,000 tonnes. This has been aided by the early commissioning of the phase 2 concentrator plant, it said.C1 cash costs, meanwhile, were US$1.21 per pound in the quarter which compares to...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 3 points in pre-opening trade. Index futures moved lower following release of the U.S. April Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 1.2% in March. Actual was an increase of 0.3%. On a year-over-year basis consensus was an increase of 8.1% versus a gain of 8.5% in March....Read More
Kinross Gold (TSX: K; NYSE: KGC) says that the company is in "uncharted territory" regarding the closure of the sale of its Russian assets. In April, the company announced that it had entered into a definitive agreement with the Highland Gold Mining group of companies to sell its Russian assets for US$680 million, weeks after Western nations announced sanctions on Russia after the country began i...Read More
Uranium producers Cameco (TSX: CCO; NYSE: CCJ) and Orano are increasing their stakes in the Cigar Lake uranium mine in northern Saskatchewan by buying Idemitsu Canada Resources' 7.9% interest in the asset for $187 million.Cameco, the world's third-largest uranium producer, will see its ownership in the mine rise by just over 4.5% to almost 54.5%, while Orano's will increase to slightly over 40.45%...Read More
Shares of Endeavour Silver (TSX: EDR; NYSE: EXK) rose to their highest level in a week as the company beat analysts' expectations in its quarterly report. The company produced 1.3 million oz. silver in the first quarter of 2022, a 25% increase from the first quarter last year and 17% higher than BMO's predictions. It also produced 8,695 oz. gold, a 22% decrease from its production last year but...Read More
International Battery Metals (CSE: IBAT; US-OTC: IBATF) has successfully completed the systems and safety testing for what would be the world's first commercial-scale mobile lithium extraction plant.The modular plant will now begin flow-testing with lithium-bearing brine, which has been sourced in the U.S. and is being trucked in. Once the efficacy and safety of the flow tests have been confirmed,...Read More
As the world pivots towards a green energy transition in the fight against climate change, Africa faces a generational opportunity to create new supply chains drawing upon its 'Aladdin's cave'-like endowment of mineral wealth, a keynote panel at the African Mining Indaba in Cape Town, South Africa, heard on Tuesday. The emerging message is that while the transition forces the creation of new indu...Read More
The Investing in Africa Mining Indaba heard that African leaders are waking up to the fact that the continent stands at the precipice of a generational opportunity to reinvent itself and participate in meaningful economic upliftment as the global energy transition accelerates.But to get there, several African leaders spoke of ongoing policy reforms to attract new investment and create new regional...Read More
Global mining personality and financier Robert Friedland has singled out Africa and the Arabian Shield as the venues where the world's future-facing minerals and metals will be responsibly produced."This is where humanity is going to make it or break it," he told the Investing in Africa Mining Indaba currently underway in Cape Town, South Africa.He points out that the large copper mines in Latin A...Read More
Liberty and Finance, Released on 5/11/22 (Recorded on 5/9/22)"There can't be a better breeding ground for volatility," says legendary investor Rick Rule, "than a sea change in conditions, fractured geopolitics, decreasing liquidity, and an increasingly automated trade environment featuring the excessive leverage that always comes from options." He suggests investors strengthen themselves psycholog...Read More
Ed Free Thinker & Oracle - Twitter, Released on 5/11/22Starting to talk to an expert on the FDA & how the ??'? mRNA companies basically didn't do any toxicity testing. No wonder the FDA didn't want data out for 75 years. The globe population has basically been poisoned. More to come. According to her they filed "high school reports"- Ed ?~??,?Free Thinker & Oracle (@DowdEdward) May 12, 2022 The gl...Read More
Aaron Kheriaty, MD - Twitter, Released on 5/11/22They can't hide the bodies. Excess mortality by age in quarter three of 2021 from life insurance claims data. Our public health establishment is entirely ignoring this disaster. These younger people did not die of Covid. pic.twitter.com/4EvRoLtDq3- Aaron Kheriaty, MD (@akheriaty) May 12, 2022 They can't hide the bodies added by Herman James on 05/12...Read More
The Korelin Economics Report, Released on 5/11/22Jordan Roy-Byrne, Founder and Editor of The Daily Gold, joins us to discuss the continued correction in precious metals sector, in tandem with the pullback in most other markets, and where we may see a bounce. We start off with looking at whether gold could bounce from yesterday's move down to the $1835 level seen at the start of the surge higher wh...Read More