Zimbabwe's mining industry, until now based mostly on platinum and diamonds, will soon count lithium as one of its key sub-sectors, as the country has struck a deal with an South African junior company whose project is expected to generate revenue of $1.4 billion over eight years.Speaking on the sidelines of a mining conference in Cape Town, Zimbabwe's new Minister of Mines and Mining Development,...Read More
Anglo American's De Beers, the world's largest rough diamond producer by value, is once again exploring for new deposits after securing 16 licences in South Africa, its home-country, and said it's also considering to apply for similar permits in Zimbabwe and the Democratic Republic of Congo."I'm excited about what I'm seeing in Zimbabwe," Phillip Barton, chief executive officer of De Beers' South...Read More
Diamond market sentiment improved in January, with firm prices after retailers reported a better-than-expected holiday season. Suppliers are gaining confidence about first-quarter orders as jewelers start to replenish stock after holiday sales.The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds rose 2.2% during January. RAPI for 0.30-carat diamonds increased 2.3%, while 0.50-carat stones gain...Read More
RAPAPORT... The Panama-based World Jewelry & Diamond Hub has elected Edi Faltz as president. Faltz (pictured), who has been executive vice president of the bourse since September 2016, is the owner and CEO of Panama City diamond and jewelry company Ten Global, as well as the Diamond Buying Office and the Faltz Diamond & Jewelry Group, both in Israel. He will replace Mahesh Khemla...Read More
(IDEX Online) - The Israel Diamond Exchange (IDE) today (Monday) officially launched a partnership with Alibaba.com, making it the first diamond bourse to offer polished diamonds and diamond jewelry on the platform, directly from the source. Alibaba.com is the leading platform for global wholesale trade, serving millions of buyers and suppliers around the world. The launch was anno...Read More
RAPAPORT... World demand for gold jewelry grew 4% year on year to2,135.5 tonnes in 2017, boosted by growth in India, the World Gold Council (WGC) reported Tuesday. India saw annual growth of 12% to 562.7 tonnes, led by strongmomentum in the fourth quarter as gold prices decreased in rupee terms. The holidayseason -beginning with the Dhanteras wedding festival in early October -also drove sales. Th...Read More
(IDEX Online) - Jewelry giant Pandora reported that group revenue in 2017 increased by 12% (15% in local currency) to DKK 22,781 million ($3.8 billion). Revenue from Pandora owned retail increased by 42% (46% in local currency). Like-for-like sales growth for Pandora owned concept stores was 11%. Revenue from EMEA increased 13% (15% in local currency), while in the Americas it...Read More
RAPAPORT PRESS RELEASE, February 6, 2018, New York... Diamond market sentiment improved in January, with firm prices after retailers reported a better-than-expected holiday season. Suppliers are gaining confidence about first-quarter orders as jewelers start to replenish stock after holiday sales. The RapNet Diamond Index (RAPI?,,?) for 1-carat diamonds rose 2.2% during January. RAPI for 0.30-cara...Read More
RAPAPORT... Titan Company's sales grew in the fiscal third quarter, buoyed bya healthy Diwali season and recent government regulations that favored thejewelry business. Revenue rose 7% year on year to $670.4 million (INR 42.96 billion),while profit for the three months ending December 31 surged 21% to $44 million (INR2.82 billion). All the company's businesses - which include jewelry, watches,sung...Read More
RAPAPORT...Two senior executives will leave Signet Jewelers, adding toa list of recent departures from the US retail giant. Steven Becker, Signet's chief human resources (HR) officer (pictured, left),and George Murray, its chief retail insights and strategy officer (right), will exitthe company on May 5, the jeweler said Monday. Becker and Murray will both receive their base salaries for12 m...Read More
NAIROBI – De Beers may follow its resumption of exploration for diamonds in South Africa’s Northern Cape by looking in the longer term at opportunities in countries like Zimbabwe and the Democratic Republic of Congo."I’m excited about what I’m seeing in Zimbabwe," said Phillip Barton, chief executive officer of De Beers’ South African unit. "If we get l...Read More
RAPAPORT... Titan Company's sales grew in the fiscal third quarter, buoyed bya healthy Diwali season and recent government regulations that favored thejewelry business. Revenue rose 7% year on year to $670.4 million (INR 42.96 billion),while profit for the three months ending December 31 surged 21% to $44 million (INR2.82 billion). All the company's businesses - which include jewelry, watches,sung...Read More
RAPAPORT... Titan Company's sales grew in the fiscal third quarter, buoyed bya healthy Diwali season and recent government regulations that favored thejewelry business.Revenue rose 7% year on year to $670.4 million (INR 42.96 billion),while profit for the three months ending December 31 surged 21% to $44 million (INR2.82 billion).All the company's businesses - which include jewelry, watches,sungla...Read More
(Bloomberg) - Anglo American Plc raised the possibility that it could start buying assets in South Africa, the latest sign of how much has changed in two years, when the miner was focused on selling."We no longer have any for sale sign," Norman Mbazima, deputy chairman of Anglo American's South African unit, said in an interview Monday. "It is possible to invest in South Africa. We have got hope...Read More
Three years after a commodity slump left their finances in shambles, mining companies are swimming in so much cash that investors aren't sure where the industry will spend it all.With metals from zinc to palladium trading at multi-year highs, four of the world's top producers generated combined free cash flow last year of about $87 million a day. Some of the unprecedented windfall is earmarked for...Read More
RAPAPORT... Fancy color diamond prices were flat in 2017, signaling someweakness in pink and yellow diamonds during the year, according to the FancyColor Research Foundation (FCRF). The overall index for fancy color diamonds edged up 0.1%,with fancy pink diamonds declining 0.8% and yellows down 1.8%, the organizationsaid. Fancy blue diamonds continued to outperform with their index, rising 5.9%dur...Read More
(IDEX Online) - Fancy color diamond prices posted a slight rise in the fourth quarter of 2017 from the previous quarter, according to The Fancy Color Research Foundation (FCRF). There were significant increases in prices of fancy blue diamonds, offset by continued softness in fancy yellow diamonds and stagnation in fancy pink diamond prices, the FCRF said. The Fancy Color Diamond In...Read More
RAPAPORT... Anthony Capuano (pictured) has retired from his role as president of TheJewelers Board of Trade (JBT) after 17 years with the group, it said Friday. Capuano began his career with the JBT as a board director in2000, and was appointed president in April 2016, replacing Dione Kenyon. "We would like to thank Tony for his service to The JewelersBoard of Trade, and the jewelry industry...Read More
CAPE TOWN (miningweekly.com) – South Africa’s ability to revitalise crucial infrastructure, especially rail and port networks, is among the key actions needed to bring investment back into the South African mining industry, Anglo American South Africa deputy chairperson Norman Mbazima said on Monday.Speaking on the first day of the Investing in African Mining Indaba, in which Creamer M...Read More
(IDEX Online) - Gem Diamonds achieved an average price of $2,217 per carat for its fourth quarter ending 31 December, up 19% from the third quarter, aided by a strong rise sales and the recovery of many diamonds greater than 100 carats at its Letseng mine in Lesotho. It sold 31,476 carats during the period, up 21% from 25,909 carats in Q3 2017, and recovered seven gem quality diamonds great...Read More