We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
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Platinum for the Discerning Man
Mumbai: Classic accessories for men have always been in vogue. When it comes to precious jewellery men prefer Platinum for its understated style quotient and also as an expression of their individuality. From Maharaja’s of India to royalties’ world over precious platinum has been a part of the men’s repertoire. This year’s men’s collection platinum design takes inspiration from ‘Digital
Rajesh Exports: Robust Q2, Strengthening Top-Line
Mumbai: Rajesh Exports reported a strong set of results for the quarter ended September, 2015 which was a record quarter for the company. The company completed the acquisition of Valcambi, the world’s largest gold refiner, at the end of July, 2015 and hence the revenues and profits for this quarter included the performance of Valcambi for the months of August
Civil Society to Boycott KP in 2016
Johannesburg: Civil society members of the Kimberley Process Certification Scheme (KPCS) will boycott the organization next year in protest at the United Arab Emirates’ (UAE) chairmanship of the international body that combats conflict diamonds. The 11 members of the Kimberley Process Civil Society Coalition say the UAE’s chairmanship crosses a red line due to “widespread concerns over UAE’s lenient standards
Lucara’s Exceptional Stone Tender Earns $30 Mln
Gaborone: Lucara Diamonds’ second Exceptional Stone Tender of 2015 achieved revenues of US $29.7 million ($20,625 per carat). The tender included 13 single stones totalling 1,440 carats. The very large, high quality exceptional stones were extracted from its 100% owned Karowe Mine in Botswana. The announcement points out the following highlights: 10 diamonds sold for more than $1.0 million each
De Beers Held Talks with Dubai Diamond Exchange
Dubai: A delegation of senior executives from De Beers visited the Dubai Diamond Exchange (DDE) on September 14, with the sides discussing future collaboration, the increasing role that the producing nations play along the New Silk Route and the opportunities this shift is bringing. DDE Chairman Peter Meeus hosted the delegation along DMCC Chief Executive Officer Gautam Sashittal. The De
Gemfields to Explore Gemstones in Sri Lanka
Colombo: Colored gemstone miner, Gemfields Plc formed a joint venture East West Gem Investments Ltd. (EWGI) to explore sapphire and gemstones in Sri Lanka. Under the agreement, the joint venture will operate through three Sri Lankan subsidiaries. Gemfields will hold a 75 percent stake in the project with EWGI holding the remaining 25 percent stake. Gemfields said it acquired a
First Texas-Israel Diamond Show Sparks Great Interest
Ramat Gan: The first Texas-Israel Diamond Show, taking place later this month in San Antonio, promises to be an exciting event for both sides. The show, sponsored by the Texas Jewelers Association (TJA) and the Israel Diamond Institute (IDI), is an unprecedented opportunity for Israeli diamond exporters and Texas jewelers to meet face to face and to do business. The
Zimbabwe Cuts Gold Levy to Assist Revival
Harare: Patrick Chinamasa, the Zimbabwean finance minister reduced royalties on gold producers from 7% to 5% in a bid to incentivize growth in the mining sector which is now faced by a negative growth of 1.9% for this year. Zimbabwe is a resource- and agro-based economy whose manufacturing and industry sectors are wobbling. The mining sector has, however, been showing
