We Wish to Build Globally Relevant SKY Gold: Akash Talesara
Israel’s Diamond Industry Under Severe Pressure
Did Natural Diamond Ind. Misjudge LGD Threat?
Why Is a Widening Gulf War Lifting Oil but Sinking Gold and Silver?
Macro Snapshot: The week ending 30 October brought the kind of news that once sent buyers into gold. Reuters reported the first known successful limpet-mine strike on a tanker in the Strait of Hormuz since the war began in February, and Houthi forces claimed strikes on Saudi refineries. Washington ordered non-emergency government staff out of Saudi Arabia amid reports that US strikes on Iran could resume after the 3 November midterm elections. Brent rose 13.6% over October, with the expiring
Why Is a Widening Gulf War Lifting Oil but Sinking Gold and Silver?
Macro Snapshot: The week ending 30 October brought the kind of news that once sent buyers into gold. Reuters reported the first known successful limpet-mine strike on a tanker in the Strait of Hormuz since the war began in February, and Houthi forces claimed strikes on Saudi refineries. Washington ordered non-emergency government staff out of Saudi Arabia amid reports that US strikes on Iran could resume after the 3 November midterm elections. Brent rose 13.6% over October, with the expiring
Top News
Making Charges on Jewellery Reduced to 5%
New Delhi: To much relief in the gold jewellery and diamond processing industry, the goods and services tax (GST) Council slashed the applicable rate on making charges from the 18 per cent decided earlier to five per cent. While announcing the decision along with similar reduction on GST rate on various other products and services, Union Finance Minister Arun Jaitley
Mountain Province President Patrick Evans Resigns
Toronto: Mountain Province Diamonds Inc.’s President and Chief Executive Officer Patrick Evans is leaving the firm immediately but will continue as a director and will facilitate the transitional period for his successor. He is being replaced by David Whittle, currently the Lead Outside Director of the company, who has 25 years of senior executive experience in the mining industry. He
IIDGR Partners with Bridal Jewellery Retailer in Japan
Tokyo: The International Institute of Diamond Grading & Research (IIDGR), a De Beers Group company, has entered a partnership with one of Japan’s leading bridal jewellery retailers, I-PRIMO, to provide polished diamond grading reports. The reports will provide assurance to I-PRIMO customers that their diamonds meet the retailer’s strict quality standards, backed by more than 100 years of De Beers
Anglo American Appoints New Chairman
London: Anglo American, the parent company of De Beers, has appointed industry outsider Stuart Chambers as chairman, the company announced Wednesday. Chambers is a former chairman of UK-based technology group ARM Holdings and consumer-packaging firm Rexam, and has also served as a non-executive director at engineering company Smiths Group and British supermarket chain Tesco. Additionally, he has held senior roles
Rio Tinto showcases “Oculus Rift” technology
Las Vegas: Rio Tinto Diamonds is bringing the mine to the marketplace by using innovative Oculus Rift technology to provide an interactive virtual journey into its Diavik Diamond Mine in the remote Northwest Territories of Canada. The Oculus Rift will debut at the Rio Tinto booth at the world’s largest diamond jewellery trade show, the JCK Luxury Show, in Las
WDC & KP Sign an MOU
Antwerp: Edward Asscher, President of the World Diamond Council, and Vice Minister Wei Chuanzhong, Chair of the Kimberley Process, signed a Memorandum of Understanding in Antwerp on Friday, May 23, formalizing the agreement for 2014 between the two organizations, according to which WDC finances and operates the Administrative Support Mechanism (ASM) on behalf of the Kimberley Process. The ASM provides
ALROSA Expects 5-Percent Growth in Rough Prices
Moscow: ALROSA expects that global rough prices will go up by 5% in 2014 over the last year, according to the ITAR-TASS report from St. Petersburg. This was disclosed to journalists on the sidelines of the St. Petersburg International Economic Forum by Fyodor Andreev, President of ALROSA. “We reckoned on a growth rate of 5%. I think it is achievable,”
Zimbabwe Orders Miners to Sell Gems through RBZ
Harare: The cash-strapped ruling ZANU PF government has issued an order to all diamond miners in the country to sell their gems through the Reserve Bank of Zimbabwe (RBZ). The permanent secretary in the Ministry of Mines, Francis Gudyanga, reportedly wrote a letter to the companies explaining that the central bank will use the diamonds to secure a government loan.
