Implats makes nonbinding indicative proposal to acquire RBPlat

Impala Platinum (Implats) has made a non-binding indicative proposal to acquire 100% of the issued ordinary shares of Royal Bafokeng Platinum (RBPlat).

Today

Petra reduces net debt to $208mln

Petra Diamonds has reduced its consolidated net debt to $207.6 million as of 30 September 2021, from $228.2 million at the end of June 2021. The company’s debt was $692.3 million as of 30 September 2020.

Yesterday

Paul Zimnisky forecasts lab-grown diamond jewelry market will almost double by 2025

In the five years since larger, higher-quality lab diamond jewelry began hitting the wider consumer market, production technologies have vastly improved, the number of suppliers has greatly multiplied and many retailers have begun to test, and in some...

Yesterday

Gem Auctions DMCC to debut rough diamond tender in November

Gem Auctions DMCC, founded by mining entrepreneur Alan Davies, will hold its first-ever rough diamond auction in Dubai, UAE next month. For its first auction, Gem Auctions DMCC will present over 100,000 carats of rough diamonds with an estimated total...

Yesterday

Angola earns over $5mln from semi-industrial diamonds in two years

Angola raked in about $5.1 million revenue from semi-industrial diamonds between March 2019 and September 2021, according to media reports.

Yesterday

The world’s largest manufacturing center faces some unfamiliar challenges amid apparent supply and labor shortages.

Yesterday

(diamonds.net) - “We’ve seen it all before,” was the collective sigh that rang through Mumbai’s massive Bharat Diamond Bourse (BDB) when the pandemic initially broke out. “We got through other crises, and we’ll get through this one.” The local diamond trade has a reputation for its distinct brand of optimism and cautious confidence, having thrived through the 2008 downturn and survived the many challenges in the decade since. Some of those challenges have been uniquely Indian. There was the round-tripping debacle of 2012, which fueled a bubble in bank credit and diminished lenders’ trust in the trade. And there was the government’s demonetization program in 2016 — often referred to as Prime Minister Narendra Modi’s attack on cash. While demonetization was deemed necessary to counter the rampant money laundering in the country, it sucked liquidity from the local diamond trade, putting businesses — predominantly small ones — under additional pressure in an already difficult market. When it comes to global crises, India’s diamond community has been able to work in a more unified way. Yet in 2020, when the global market shut down as Covid-19 began to spread in late March, India’s dealers, manufacturers and jewelers — like those across the globe — were left dumbfounded. It soon became clear this was unlike anything they had previously experienced. Uncertainty and fear that the economic impact of the pandemic would surpass all other crises set in. This time, Indian manufacturers didn’t need to take such deliberate collective actions, though they claim to have done so anyway. The market made the decision for them: Mining companies stopped selling rough, and trading froze. Besides, no one could travel to buy goods.

Good News For Luxury? 60% Of China’s College Kids Expect To Be Millionaires

26 october 2021

(jingdaily.com) - The hashtag #over 60 percent of college students think that their yearly earnings will reach one million within ten years after graduation# appeared in the hot search list on Weibo, attracting widespread attention. The topic has now hit 530 million views. China Youth Daily, an employment survey for college students from all over the country, recently revealed surprising numbers — 70 percent of interviewed college students born after the 2000s will prioritize their professional careers over their intimate relationships. Additionally, as many as 68 percent of them estimated they would be earning one million yuan ($155,000) yearly within ten years of graduating. The results of the survey have opened lively debates on social media: Some netizens consider it a good signal that young people refuse to engage in “lying flat 躺平,” meaning not willing to do anything and that they are ambitious enough to dream about earning a high salary. Meanwhile, others believe these college students are way too naive with their unrealistic income expectations.

Carbon emission plans could cost SA’s gold, PGM miners up to 20% of market value

25 october 2021

(miningmx.com) - The cost of cutting carbon emissions for South Africa’s precious metal mining companies could be as much as 20% of their market capitalisation. This is according to a report by Nedbank Securities analyst Arnold van Graan who assumed a 30% carbon emission reduction target over 10 years. Van Graan added that while carbon emission abatement had become a business imperative, it had also “… started to impact the investment case of the companies we cover”. Firms included in the analysis were Sibanye-Stillwater, Gold Fields, Anglo American Platinum and AngloGold Ashanti. Companies have typically targeted a reduction in carbon emissions of 10% to 30% by 2030.

HRD Antwerp Ends Partnership in Turkey, Dubai

25 october 2021

(diamonds.net) - HRD Antwerp has terminated its collaboration with a local partner in Turkey and Dubai, the Belgian grading organization said. Mehmet Can Özdemir and his company had managed HRD’s laboratory in Turkey since 2014, Ellen Joncheere, HRD’s CEO, told Rapaport News Wednesday. HRD owned 50% of the business in Turkey in a joint venture, while the pair also operated a partnership in Dubai in which HRD held a majority stake. Joncheere and Özdemir both denied a report on a Turkish news website alleging that the Istanbul office had over-graded stones and that this was the reason for closing the office.

Implats looking beyond PGM family as ponders growth into “future facing metals”

22 october 2021

(miningmx.com) - It’s fair to say Impala Platinum CEO, Nico Muller is managing expectations regarding the platinum group metal (PGM) mining firm’s growth plans when he says it is “… developing a radar screen” for “future-facing” metals. To be clear, future facing metals is term intended to include battery metals such as nickel, copper and cobalt, but which also extends beyond them.

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