We Wish to Build Globally Relevant SKY Gold: Akash Talesara
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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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Rio Tinto Celebrates Chow Tai Fook Milestone
Beijing: Diamonds from Rio Tinto’s Argyle mine in Western Australia will be showcased across China in an unprecedented fashion from next month, headlined by a special white and champagne diamond encrusted tiara. The masterpiece, titled “Nature’s Glow”, has been crafted as a tribute to the strategic partnership between Rio Tinto and pre-eminent Chinese jeweller, Chow Tai Fook, on the occasion
ALROSA's President Steps Down
Moscow: On Monday, September 22, Fyodor Andreev stepped down from his president post “due to medical reasons”. Ilya Ryaschin, First Vice President of ALROSA, was appointed the acting President of the company. Company’s shares closed down 2.99% to 37.3 Rub. Later Rosimushchestvo released a press statement saying it “was sorry that Andreev had to leave ALROSA president post due to
IIDGR Displays New AMSD in Greater China
Hong Kong: The De Beers Group of Companies’ International Institute of Diamond Grading & Research (IIDGR) showcased the new Automated Melee Screening (AMS) device to great reception at this September’s Shenzhen International Jewellery Fair and Hong Kong Jewellery & Gem Fair. The new AMS device which can take up to 500 carats at once is a spectrometer based system that
DDE Holding Sale of Rough from Kao Mine
Dubai: The Dubai Diamond Exchange (DDE) is hosting the Fusion/Hennig September Kao rough diamond tender for the first time. It started on September 21 and ends on Wednesday and offers the full run-of-mine production of the Kao mine located in Lesotho. It comprises more than 30,000 carats of rough, encompassing the full range of sizes and assortments, including large and
Mining Companies Discuss SNZ issues with India
Mumbai: A senior official of the Ministry of Commerce & Industry, Mr. Siddharth, DG, DGS&D held a meeting with delegations from De Beers, Rio Tinto and Dominion Diamond in the presence of representatives of the GJEPC and BDB on July 6, 2015 to discuss certain issues pertaining to taxation, procedures and other matters related to the Special Notified Zone for
Zimbabwe Q1 Diamond Output Plummets
Harare: Zimbabwe’s diamond output dropped 36 percent to 419 788 carats in the first quarter of the year from 660 000, a year earlier. The Herald newspaper reports that weak production was expected to continue in the “short term” as alluvial diamonds in Marange were “fast depleting”. Zimbabwe sold rough diamonds worth $75,92 million in the five months to May
Gahcho Kué Diamond Mine 62 Percent Complete
Toronto: Mountain Province Diamonds Inc. announced that development of the Gahcho Kué diamond mine is progressing according to plan and budget with the overall project approximately 62 percent complete at the end of May, 2015. Key areas of focus are continued dewatering to expose the kimberlites, the placement of concrete foundations and the erection of steel superstructures of the major
Myanmar's Gems Emporium Heavily Attended
Naypyidaw: Hundreds of merchants from China to Malaysia flocked to Naypyidaw, Myanmar on Friday to inspect an annual auction of jade and other precious stones, according to AFP. The 13-day emporium is expected to draw around 5,000 local and foreign visitors who will bid for the raw jade, gems, jewelry and sculptures up for sale. “We invited (merchants from) Hong
