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
Top News
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
India Plans to Promote Diamonds with Miners
Mumbai: Falling sales and squeezing margins have prompted Indian diamond trade to consider teaming up with miners like Rio Tinto, ALROSA and De Beers and launching a marketing campaign in strategic markets like China, Latin America and the Middle East, reports The Economic Times. The plan is to rope in international advertising agencies and celebrities to promote diamond that of
New Gold Discovered in China
Beijing: Geologists have discovered a massive gold mine in China’s restive Xinjiang province, according to state news agency Xinhua. The new find, close to the border with Kyrgyzstan, has proven gold reserves of 127 tonnes, Xinhua said. If the estimates are correct, the reserves could be worth around 40 billion yuan ($6.5bn). The Xinjiang Geology and Mineral Exploration Bureau spent
Zimbabwe Can’t Wait For Annual Dividends
Harare: Zimbabwe will now collect its share of diamond revenue at the point of sale rather than wait for its Marange partners to remit dividends annually. Harare could have been prejudiced of millions of dollars from previous sales, The Herald newspaper reports. The government’s mining arm, Zimbabwe Mining Development Corporation (ZMDC) holds a 50 percent stake in firms mining gems
Delhi HC Seeks Govt. Reply in Gold Import Case
New Delhi: In a major setback for the government, the Delhi High Court on Thursday ordered all major departments and ministries of trade and commerce to present files pertaining to the process of decision making which allowed a handful of private star trading houses to import gold, reports Business Standard. Hearing the case filed by Delhi Bullion and Jewellers Welfare
Anna Martin Joins GIA
New York: Anna Martin, who oversaw diamond and jewelry lending at both Standard Chartered Bank and ABN AMRO, has joined GIA as senior vice president of global development. “Martin will be responsible for broadening and deepening GIA’s relationships with clients and stakeholders and overseeing the Institute’s global beneficiation efforts,” said a statement. She will be based in New York City,
