The past year was a difficult one overall for the metals, with the main standouts to the upside being a geopolitical risk-driven gain in gold, a China-driven rise in iron ore and a surge in uranium on broadening global support for nuclear power (Figure 1). A jump in global interest rates to near two-decade highs saw recession fears persist all year, and while one still did not actually eru...Read More

This year the post-global health crisis boom was brought to an end by a surge in inflation to forty-year highs, a major rise in global interest rates in an attempt to curb the rising prices and surging geopolitical risk after Russia's invasion of Ukraine. While precious metals held up reasonably well as markets turned to them as a risk hedge, by Q2/22 the higher interest rates put an end t...Read More

Chile is the world leader in copper production, at 28.5% of the total in 2020, and this looks set to continue, with the country having the largest global reserves, at 23.0% of total. It is also the global leader for molybdenum, which is often found along with copper, and is a major lithium player, holding 51.1% of global reserves. Read More

Newfoundland has become a gold exploration hotspot over the past few years, with the sector seeing some of its strongest activity ever. While the province remains a small contributor to Canadian gold production, it has a substantial mineral industry well supported by the government, focused on iron ore, copper and nickel, and the surge in exploration suggests that gold output from the...Read More

Nevada is the core of the U.S. gold output, accounting for by far the majority, at 75.4% on average for the past year. The state looks set to remain a dominant player in U.S. gold, as it accounts for 49% of total U.S. reserves, with Alaska slightly ahead with 51% of reserves, but just 8.6% of current production. The U.S. accounts for 6.1% of global gold output, making Nevada one of the largest gol...Read More

The Golden Triangle in northwestern British Columbia has historically been a major site of Canadian gold production, beginning as early as the mid 1800s. There was a wave of production in the 1990s which cooled as the gold price declined, but larger scale production resumed in 2017, and the area has seen surging exploration interest over the past year, given that the region has some of the largest...Read More

In this report we outline the Quebec gold mining industry, including its major producers, and a survey of many of the junior miners focused on the province. Quebec accounts for 34% of Canadian gold production (second to Ontario, with 44%) and remains a major focus for both producers and junior miners.Read More

Red Lake has been one of the most prolific gold mining districts in Canada and the world, with exploration having started in the 1920s, and production, which began in the 1930s, continuing to the present day. The district is known for the high grade of its gold, its infrastructure, and strong institutional support, given the long history of mining in the area.Read More

(IDEX Online) - Israel's diamond industry suffered another steep decline in monthly polished diamond exports during November as the war continued in Gaza.But year-on-year average per carat prices were far higher, and foreign sales for the month dwarf those of 2022.Net polished diamond exports for November were just over $107m, according to the Ministry of Economy and Industry, a 75 per cent d...Read More

(IDEX Online) - India's Prime Minister Narendra Modi today (17 December) officially opened the new Surat Diamond Bourse, with a promise that it would create 150,000 new jobs.  The $355m bourse has been recognized by Guinness World Records as the biggest office building in existence (7.1 million sq. ft of floor space), eclipsing The Pentagon, HQ of the US Defense Department."One more...Read More

(IDEX Online) - Breitling has bought Universal Geneve, the lesser known but highly-prized luxury Swiss watch brand, with a promise to revive the company from "hibernation" to its former glory.It acquired the company from Stelux Holdings, the Hong Kong holding company that bought the brand in 1989. Breitling reportedly paid $70m, in a move that surprised industry experts.Universal Geneve was founde...Read More

(IDEX Online) - Petra Diamonds may have found a buyer for the loss-making Koffiefontein mine, in South Africa, that has been on care and maintenance since November 2022.The UK-based miner says it has has entered into a non-binding term sheet on an exclusive basis with an unnamed interested party.The mine was expected to reach the end of its life in 2025, before operations were halted. A 2021 asses...Read More

The New Yorker is running a contest. What should we call our era? Some possible candidates: Terrible Twenties, the Age of Emergency, Cold War II, the Omnishambles, the Great Burning.Try as I might, I cannot understand the last one. Regardless, it's absolutely the case that there has been a dramatic turning of events and our lives. It's not just national. It's global and devastating.I'm going with...Read More

(IDEX Online) - Alrosa has reported a 7 per cent drop in net profit during the first nine months of 2023, down to $975m (RUB 87.9bn).Russia's state-controlled miner said Q3 revenue was $871m (RUB78.5bn), down 7 per cent on the Q2 revenue of $936m (RUB 92.51bn) previously reported. But it was up 55 per cent on revenue for Q3 2022.Alrosa halted rough sales during September and October in a move...Read More

"While participants do not view it as likely to be appropriate to raise interest rates further, neither do they want to take the possibility off the table."Thus Mr. Powell issued his wink and his nod to Wall Street yesterday.His statement followed the December confabulation of the Federal Reserve's Open Market Committee so-called.Wall Street heard only the first component of his statement. Stock...Read More

(IDEX Online) - Bucherer, the Swiss watch retailer, is to sell Rahaminov diamonds online and in its US stores.The move comes after Rolex acquired the Lucerne-based family business, with its 100 outlets, from 87-year-old chairman Jorg G. Bucherer in September.Rahaminov, known for diamond cutting, sales and trading was founded in Italy in the 1940s by the Rahaminov brothers, who were diamond cutters...Read More

(IDEX Online) - Anglo American, parent company of loss-making De Beers, is being tipped as a takeover or merger target after its valuation dropped by over $30bn in under two years. Both the diamond and platinum markets have been in decline of late, and on Friday (8 December) Anglo announced it had drastically cut production forecasts for copper and had revised down predictions for other metal...Read More

(IDEX Online) - The Diamond Worker Union Gujarat (DWUG) claims over half the state's 2.5m diamond workers are being denied minimum wage benefits guaranteed by labor laws. It is threatening a major protest unless its demands are met before Prime Minister Narendra Modi officially opens the new Surat Diamond Bourse (SDB) on Sunday 17 December.The DWUG claims wages have been cut by as much a...Read More

(IDEX Online) - India's voluntary two-month ban on rough purchases saw a dramatic reduction in imports during November, down 69 per cent from $1.02bn in October to $314m, according to new figures from the GJEPC (Gem and Jewellery Export Promotion Council).  The moratorium ended on 15 December and is seen as a major reason for the recent uptick in diamond prices.IDEX's Polished...Read More

Your editor is an American patriot. Through his veins courses the reddest blood.And under red, white and blue... his heart beats true.He cherishes American democracy in its high pristinity.Thus he tumbles into the deepest deeps of despair today.For he has learned that 21% of American voters flouted election law in 2020's presidential election.Rasmussen is his source. It conducted a recent poll of...Read More

(IDEX Online) - Three people died and two were injured after a release of methane gas at Russia's biggest diamond mine.A criminal investigation is taking place into a possible violation of safety rules at Alrosa's Udachny deposit, in the Daldyn-Alakit kimberlite field, Yakutia.A commission led by a representative of Rostekhnadzor, Russia's Federal Service for Environmental, Technolo...Read More

(IDEX Online) - Celebrity jeweler Benny Nisanov was held at gunpoint as raiders stole goods worth $1m from his New York store.Nisanov, 33, who trades as Benny Da Jeweler, is the go-to jeweler for rapper Casanova, as well as Ice Spice, Pop Smoke, P Diddy, Mary J Blige, Bobby Shmurda, Davido, French Montana, Lil TJay and Jake Paul. He told police the robbers threatened to shoot after bursting i...Read More

Share this article 2023 DRILLING HIGHLIGHTS:High-grade gold-silver-copper mineralization has been intersected in multiple inaugural test drill holes collared from within the Bingo Main Zone along a north trending, west-dipping, shear hosted vein within a 550 meters by 350 meters precious metal rich mineralized corridor that remains open. Bingo Maps CompilationDrill hole BI-23-01 intersected 11.42...Read More

Share this article VANCOUVER - Barrick Gold Corp. [TSX-ABX; NYSE-GOLD] reported that the United States Bureau of Land Management has issued a record of decision (ROD) approving the Barrick joint venture with Nevada Gold Mines' (NGM) plan of operations for its new Goldrush underground mine at the Cortez complex near Beowawe, Nevada.The long-life mine is expected to start ramping up production in 20...Read More

Plus: An important update on my latest gold trade!As the year-end melt up continues, I can't help but reminisce about the insane rallies we enjoyed during the height of the Covid Bubble.The holiday rally of 2020 featured a massive crypto rally and subsequent NFT frenzy, meme stock silliness, and unbelievable gamma squeezes that launched stocks into the stratosphere into early 2021.It was one of th...Read More

I have five forecasts for 2024 to help keep you ahead of the curve in positioning your investment portfolio.My overall forecast is that 2024 will be more tumultuous and shocking than 2023. That may seem hard to credit.With two major wars going on, an indicted former president and a demented current president, how can 2024 be more challenging than 2023?Rest assured; it will be. I explain why below....Read More

(IDEX Online) - Indian manufacturers are concerned about the G7's rollout of diamond sanctions on Russia, which is responsible for 30 per cent of global supply.The GJEPC (Gem and Jewellery Export Promotion Council), representing almost 10,000 members, says there should be more flexibility to miminize the impact of the new restrictions."We are not happy with the announced timeline for implemen...Read More

(IDEX Online) -  Plunging lab grown prices mean some brides-to-be are now embarrassed by the size of their engagement ring, according to the Wall Street Journal (WSJ).Rocks of two, three or more carats are becoming more and more common, leaving couples with a dilemma.  Do they pretend they have the funds to buy a huge natural diamond, or admit it's a lab grown.The average retail pri...Read More