Mining industry employees and jobseekers are prioritizing a work-life balance when they look for a new role or when they start feeling dissatisfied in the position they are in.This is according to a survey of almost 800 people conducted by Perth-based Mining People International in January 2019.The recruitment agency reported that when asked "What takes priority when you're searching for your next...Read More
RAPAPORT... Fugitive Indian diamantaire Nirav Modi is living an upscale life in London and running a diamond business there, according to a reportby UK newspaper The Telegraph. The publication tracked down Modi to an GBP 8 million ($10.4million) apartment in London's West End. The jeweler, suspectedof defrauding Punjab National Bank of $2 billion, is involved in a newdiamond firm run out...Read More
RAPAPORT... Petra Diamonds recovered two gem-quality rough stones fromits Cullinan mine in South Africa Friday. The 100.83-carat, D-color, type IIstone and another 6.12-carat, blue, type II diamond will be included in the company'supcoming tender later this month. Petra's stock price rose 6% on the day of the announcement. The company's share performance has been suffering partly due to...Read More
RAPAPORT... Belgium's shipments of rough and polished slowed inFebruary. An 8% drop in the volume of polished exports outweighed growth in theaverage price, with the total value down 3% for the month, according to datathe Antwerp World Diamond Centre (AWDC) released last week. The decline reflected a drop in orders from Hong Kong, the US, Switzerland, Israel and India. Roughimports and export...Read More
Petra Diamonds Limited recovered a 100.83 carat D-Colour Type II gem quality diamond, following another recent recovery of a 6.12 carat Type II blue stone at its Cullinan Diamond Mine. According to the firm, the finds, which occurred earlier this month, demonstrate the prevalence of these types of stones in the Cullinan orebody as well as the ability of the mine's plant to recover the full spectr...Read More
This Spring, Sotheby's Magnificent Jewels and Jadeite auction in Hong Kong promises to deliver "a wealth of color and design through rare gems and intricately crafted jewels." The auction house will feature signed pieces by legendary maisons, such as an exquisite emerald and diamond necklace by Van Cleef & Arpels, alongside a specially curated collection of colored gemstones and colored diamon...Read More
Burdened with a bank debt of more than half a billion dollars, Eurostar Diamond Traders of Antwerp is close to bankruptcy, the Belgian daily De Tijd reported. ABN AMRO, Standard Chartered, as well as former accountants and former managers are among the creditors. The case is to come before Antwerp's Business Court in the second week of March 2019, after earlier this month the Court of Appeal dismi...Read More
Zimbabwean media reported that Anjin Investments, the diamond company partly owned by the Chinese, is expected to return to the mines in the Marange diamond fields of eastern Zimbabwe.Reportedly, local villagers and human-rights activists are not impressed. Before Anjin was expelled from the Marange diamond fields some three years ago by past President Robert Mugabe, the company was accused of of...Read More
RAPAPORT... Belgium's shipments of rough and polished slowed inFebruary. An 8% drop in the volume of polished exports outweighed growth in theaverage price, with the total value down 3% for the month, according to datathe Antwerp World Diamond Centre (AWDC) released last week. The decline reflected a drop in orders from Hong Kong, the US, Switzerland, Israel and India. Roughimports and export...Read More
South Africa's Petra Diamonds (LON:PDL) has found a 100.83 carat gem-quality diamond at its iconic Cullinan mine in South Africa.The D-colour, Type II diamond follows the recent recovery of a 6.12 carat Type II blue stone, also at Cullinan.The company has piled up debt after building a new plant and digging deeper at its flagship Cullinan diamond mine."The recoveries demonstrate the prevalence of...Read More
Brazil's new right-wing government, led by former army captain Jair Bolsonaro, is going ahead with announced changes to current mining regulations, which include a controversial plan to open up indigenous reserves to mining.Most of the country's original population lives in the Amazon rainforest, which has an ecosystem seen by many as having worldwide ecological importance. Speaking at an event in...Read More
In this opinion piece, De Beers Group CEO Bruce Cleaver outlines the diamond miner's approach to creating a more inclusive world for all.For more than a century, International Women's Day has been celebrated annually on March 8 to recognise the social, economic, cultural and political achievements of women around the world. The day also marks a call to action for accelerating gender parity...Read More
GABORONE – Diamond-rich Botswana expects mineral revenues in the 2019/20 fiscal year to drop by 4% to 13.6-billion pula ($1.26-billion) due to a decline in royalties and dividends, a minerals ministry budget document showed on Thursday.Mineral Resources Minister Eric Molale said in the document that global diamond demand was showing signs of slowing down. Retail jewellery sales fell dur...Read More
Alrosa, (MCX:ALRS) the world's top diamond producer by output, reported Thursday that total sales of rough and polished diamonds increased to $345.6 million, up 23% compared to January 2019 (up $64.1 million).Rough diamonds sales in February increased to $340.6 million, compared to $278.2 million in January 2019, while polished diamond sales grew to $5 million, compared to $3.4 million a...Read More
Diamond rich Botswana expects mineral revenues in the 2019/20 fiscal year to drop by 4 percent to 13.6 billion pula ($1.26 billion) due to a decline in royalties and dividends, a minerals ministry budget document showed on Thursday.Mineral Resources Minister Eric Molale said in the document that global diamond demand was showing signs of slowing down. Retail jewellery sales fell during the last qu...Read More
Zimbabwe will scrap a law that denies foreign platinum mining companies control of their operations in the country, the mines minister said on Thursday.It's part of continued review of (the) Zimbabwe is open for business mantra."Foreign platinum and diamond miners have been restricted to only 49 percent ownership of their Zimbabwe operations by the black economic empowerment law introduced during...Read More
Diamond trade cautious after slow Hong Kongshow. Demand selective and inventory levels high, with buyers insisting on deepdiscounts for goods under 0.50 ct. Low manufacturing profits reducing Indianpolished production as smaller goods not making money. 0.30ct. RAPI -0.6%, 1ct. RAPI +0.1% in Feb. with better market for 0.70 to 1.99 ct. De Beers prices flat at $490 million sight. Far East consumerou...Read More
Manufacturers maintaining reduced production in quietmarket. Margins under pressure due to high rough prices at De Beers sight and subduedpolished demand. Steady orders for 0.50 to 1.99 ct., G-H, VS2-SI1 (3X, nofluorescence). Stones with good or fair cut very hard to sell. Melee stable,with selective demand for stars, but manufacturers want to sell bigger meleesizes, as they offer better profits....Read More
RAPAPORT... Sales at Alrosa fell 36% year on year to $345.6 millionin February as a slowdown in the rough market continued. Rough-diamond sales dropped 36% to $340.6 millionfor the month, according to Rapaport calculations based on Alrosa reports.Polished revenues slid 45% to $5 million. Overall demand has improved versusJanuary, however, with total sales up 23% month on month, the Russian miner s...Read More
RAPAPORT... Retail sales of jewelry and other luxury items increased inHong Kong in January, boosted by the earlier timing of the Lunar New Year and highertourism. Revenue from jewelry, watch, clocks and other valuable giftsimproved by 4.7% year on year to HKD 8.47 billion ($1.08 billion), themunicipality's Census and Statistics Department reported Tuesday. Sales in allretail categories were...Read More