RAPAPORT... Alrosa has increased its contribution to the coronavirus relief efforts in the Yakutia region to $4.2 million, it said Wednesday.The funds will be used to purchase medical equipment and supplies, as well as personal protective gear, in Russia's Yakutia region, where Alrosa mines. The miner will give RUB 25 million ($336,425) to local hospitals in the Mirny and Lensky districts, an...Read More
RAPAPORT... Five major watch brands have pulled out of the 2021 Baselworld show, prompting organizers MCH Group to consider the event's future.Rolex, Patek Philippe, Chanel, Chopard and Tudorwill launch a new fair in Geneva in early April 2021 alongside the Watches & Wonders show (formerly SIHH), they said Tuesday.The five companies cited Baselworld's postponement of its 2020 edition to J...Read More
RAPAPORT... Lucapa Diamond Company has created a partnership with a high-end diamantaire to cut and polish a portion of rough from the Mothae mine in Lesotho.The miner sought the deal after coronavirus lockdowns halted sales of its diamonds through regular tenders in Belgium, the company said Tuesday. The diamantaire purchased 3,963 carats from Mothae for $2 million, or $505 per carat. That i...Read More
RAPAPORT... Alrosa maintained its production forecast for 2020 as the company reduced its rough-diamond stockpiles in the first quarter despite weak market conditions.The miner expects production to rise 11% to 34.2 million carats this year, it said Thursday, but cautioned that its ability to sell will depend on the coronavirus situation. "The diamond industry started 2020 in a good shape as...Read More
Diamond industry under stress as mining, manufacturing and retail centers remain closed during COVID-19 lockdown. US government starts $2.2 trillion stimulus to help relieve liquidity pressures as new unemployment claims exceed 20 million in April. US retail sales slide -6.2% in March. China retail reopening to light traffic. Chow Tai Fook 4Q China same-store sales -50%, Hong Kong/Macau -65%. Some...Read More
JOHANNESBURG (miningweekly.com) – The Minerals Council South Africa on Thursday welcomed the amendments to the Disaster Management Act regulations as they pertain to mining.These regulations allow a phase-up in mining capacity to 50% during the lockdown period, but with all the preventative and mitigating controls in place to fight Covid-19.AdvertisementThe council said it was completely ali...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa on Thursday said that it was reviewing various funding scenarios and financing restructuring possibilities amid the global Covid-19 pandemic.A care-and-maintenance and security programme is being implemented at its Mothae operation, in Lesotho, after the South African government effected a nation-wide lockdown which impacted on the flow of esse...Read More
The Renard diamond mine, in the James Bay territory of Quebec, will not reopen yet, despite the province’s government announcing that mining activities can restart as essential services.Diamond miner Stornoway is keeping Renard on care and maintenance, given the structural challenges still affecting diamond market sales, as well as the depressed prices for diamonds owing to Covid-19.Adv...Read More
(IDEX Online) - New dates have been announced for two Hong Kong jewelry shows after they were twice postponed because of coronavirus.The Hong Kong International Jewellery and Diamond Show and its sister event, the Gem & Pearl Show, are now due to take place on 3 to 6 August, with extra Covid-19 precautions.They were originally scheduled for 2 to 8 March, were put back to 18 to 21 May because o...Read More
(IDEX Online) - Russian mining giant Alrosa to finance a drone to monitor and protect wild reindeer. Its environmental center is working with authorities in the remote tundra of Yakutia, in the east of the country, where Alrosa operates its Mir mine. The company already has special paths for reindeer to cross ground installation lines and has developed a mechanism that blocks traffic so they can s...Read More
Aim-listed diamond producer BlueRock Diamonds, which owns the Kareevlei mine, in Kimberley, in the Northern Cape, says the two-week extension of South Africa's national lockdown to April 30 will not have a significant impact on its strategy.Executive chairperson Mike Houston says the lockdown extension did not come as a surprise and is consistent with what is happening around the world. A...Read More
(IDEX Online) - British jeweler Graff has become the latest to announce a donation to combat coronavirus. It's giving $1m through the Graff Foundation charity to the COVID-19 Solidarity Response Fund, set up by the United Nations Foundation. The money will go towards critical work tracking and understanding the spread of the virus, providing patients and frontline workers with appropriate car...Read More
(IDEX Online) - Petra Diamonds saw prices for its rough stones fall 27 per cent in February, compared with the same month last year, as coronavirus brought its mining operations to a halt. The UK-listed firm has put its Williamson mine in Tanzania on care and maintenance from the middle of April, and government lockdowns on its Finsch, Cullinan and Koffiefontein mines in South Africa will be revie...Read More
RAPAPORT... Diamond jeweler Graff will contribute $1 million to help at-risk countries stem the spread of the coronavirus.The company will give the money through its charity foundation to the COVID-19 Solidarity Response Fund, which was created by the World Health Organization (WHO). The funds will be used to provide essential medical supplies in vulnerable communities and to accelerate the d...Read More
RAPAPORT... Diamond jeweler Graff will contribute $1 million to help at-risk countries stem the spread of the coronavirus.The company will give the money through its charity foundation to the COVID-19 Solidarity Response Fund, which was created by the World Health Organization (WHO). The funds will be used to provide essential medical supplies in vulnerable communities and to accelerate the d...Read More
Alrosa, Russia’s largest diamond producer, ended some long-term deals with customers as sales in March collapsed to half the level of a year ago because of the coronavirus pandemic.“We would like to thank those of our customers who stick to our long-term contracts though with several companies we had to terminate such contracts and switch to spot sales,” Deputy CEO Evgeny Agureev...Read More
RAPAPORT... US imports of goods used in the retail industry fell to their lowest level in five years in March, signaling that the slowdown in consumer spending will likely extend to the second half of the year."The COVID-19 pandemic is unraveling the economy nationally and globally as most of the world moves toward a lockdown that entails the closure of significant portions of both the servic...Read More
(IDEX Online) - Lucapa has sold polished diamonds worth $2m, sidestepping coronavirus restrictions on its usual rough tender in Antwerp. The Australia-based miner has agreed a high-end cutting and polishing partnership with a high-end diamantaire for stones from its Mothae kimberlite mine in Lesotho so it can sell polished rather than rough stones. Lucapa receives the rough price upfront from its...Read More
RAPAPORT... Exhibitors who had signed up for Baselworld's 2020 show are frustrated over the fair's choice of new dates and refund options after the show was postponed due to the coronavirus outbreak.Organizers MCH Group delayed the fair, which was due to take place April 30 to May 5 alongside Watches & Wonders Geneva. However, the new edition, scheduled for January 28 to February 2, 2021,...Read More
RAPAPORT... Chow Tai Fook's sales slid in the fourth fiscal quarter amid sluggish consumer demand and store closures brought on by the coronavirus pandemic.Retail sales slumped 41% in mainland China in the three months ending March 31, while same-store sales - at branches open for at least year - plunged 50%, the jeweler reported last week. Both retail sales and same-store sales in Hong Kong...Read More