Chetan Kumar Mehta Propels Laxmi Diamonds to the Top
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Platinum is Set to Become the Metal of Choice: Sujala Martis
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The 200-Day Held: Now Comes the Test That Decides Whether the Bounce is a Reversal
Macro Snapshot: The week ending July 3 broke a five-week decline for both gold and silver. Gold posted its first weekly gain since late May and silver led the recovery with a much larger move. The trigger was a weaker-than-expected US jobs report, which reset rate-hike expectations and pushed the dollar to its largest weekly decline since April. Layered underneath were two other significant developments: the release of the World Gold Council’s Mid-Year Outlook on Tuesday July 1 (covered in
The 200-Day Held: Now Comes the Test That Decides Whether the Bounce is a Reversal
Macro Snapshot: The week ending July 3 broke a five-week decline for both gold and silver. Gold posted its first weekly gain since late May and silver led the recovery with a much larger move. The trigger was a weaker-than-expected US jobs report, which reset rate-hike expectations and pushed the dollar to its largest weekly decline since April. Layered underneath were two other significant developments: the release of the World Gold Council’s Mid-Year Outlook on Tuesday July 1 (covered in
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Tanzanian President Asks Mining Minister to Resign
Dar Es Salaam: Tanzanian President John Magufuli on Wednesday ordered Minister for Energy and Minerals Sospeter Muhongo to resign after a report showed he was implicated in mining firms’ undeclared mineral sand exports. The report revealed that the undeclared mineral sand exports led to tax evasion by the mining firms. Magufuli said the report revealed that mining firms, including Acacia
ALROSA-Endiama Sign Agreement
Luanda: ALROSA will develop the new Luaxe diamond deposit in Angola. During the visit of the Russian official delegation on May 23, 2017, the President of ALROSA Sergey Ivanov and the president of the Angola’s national diamond-mining company Endiama Carlos Sumbula signed respective documents on the establishment of the international enterprise Luaxe. Companies signed three documents: a memorandum of understanding,
Zimbabwe Takes Control of Its Diamond Ind. Again
Harare: Zimbabwe has taken over income from all diamond mining activities in the country after injecting $80m into the Zimbabwe Consolidated Diamond Company (ZCDC), a state-owned company mandated to run diamond mining activities, reports miningmx. The Zimbabwe Government’s Finance Minister, Patrick Chinamasa, has now stated, “the diamonds belong to the fiscus” in a time of decline in gem mining operations
Ekati Mine's Life Could Extend till 2035
Toronto: Dominion Diamond Corporation reported that the positive results of a pre-feasibility study on the development of an underground operation below the Misery open pit could extend the mine life of Ekati till fiscal 2035. The estimated inaugural probable mineral reserves at Misery Deep are 1.8 million tonnes and 8.7 million carats, Dominion said. The Misery Main pipe is currently
Tanzanian President Asks Mining Minister to Resign
Dar Es Salaam: Tanzanian President John Magufuli on Wednesday ordered Minister for Energy and Minerals Sospeter Muhongo to resign after a report showed he was implicated in mining firms’ undeclared mineral sand exports. The report revealed that the undeclared mineral sand exports led to tax evasion by the mining firms. Magufuli said the report revealed that mining firms, including Acacia
ALROSA-Endiama Sign Agreement
Luanda: ALROSA will develop the new Luaxe diamond deposit in Angola. During the visit of the Russian official delegation on May 23, 2017, the President of ALROSA Sergey Ivanov and the president of the Angola’s national diamond-mining company Endiama Carlos Sumbula signed respective documents on the establishment of the international enterprise Luaxe. Companies signed three documents: a memorandum of understanding,
Zimbabwe Takes Control of Its Diamond Ind. Again
Harare: Zimbabwe has taken over income from all diamond mining activities in the country after injecting $80m into the Zimbabwe Consolidated Diamond Company (ZCDC), a state-owned company mandated to run diamond mining activities, reports miningmx. The Zimbabwe Government’s Finance Minister, Patrick Chinamasa, has now stated, “the diamonds belong to the fiscus” in a time of decline in gem mining operations
Ekati Mine's Life Could Extend till 2035
Toronto: Dominion Diamond Corporation reported that the positive results of a pre-feasibility study on the development of an underground operation below the Misery open pit could extend the mine life of Ekati till fiscal 2035. The estimated inaugural probable mineral reserves at Misery Deep are 1.8 million tonnes and 8.7 million carats, Dominion said. The Misery Main pipe is currently
