BGD completes its diamond drilling program at Tunkillia Gold Project

Barton Gold Holdings Limited (BGD) has confirmed that its diamond drilling program at the Tunkillia Gold Project has been completed, comprising a total of 2,201m of diamond drilling plus 602m of RC and mud rotary pre-collars.

Today

Botswana Diamonds raises £352,425 for working capital

Botswana Diamonds has issued more than 28,5 million ordinary shares of £0.0025 each in respect of the second tranche of consideration shares due following the completion of the acquisition of Vutomi in South Africa last September.

Yesterday

Shanta expands West Kenya’s mineral resource to 1.72Moz

Shanta Gold has expanded the mineral resources at the West Kenya project, in Kenya, to 1.72 million ounces (Moz) of gold.

Yesterday

Robex, Taurus ink financing deal to advance Kiniero gold project

West African gold producer and developer Robex Resources has appointed Taurus Mining Finance Fund No.2 as its exclusive arranger for a funding package of up to $115 million for the development of Robex’s Kiniero gold project in Guinea.

Yesterday

Anglo loads the first LNG dual-fuelled vessel

Anglo American says its newly launched LNG dual-fuelled Capesize+ vessel, the Ubuntu Harmony, has loaded its first cargo of iron ore from its Kumba operations in South Africa.

Yesterday

Electric vehicles throw palladium's mega-rally into reverse

Today

(money.usnews.com) - Palladium, once the cheapest major precious metal, rocketed from less than $500 an ounce in 2016 to above $3,400 last March, leaving platinum and gold for dust. An era of breathtaking palladium rallies is likely to be ending, analysts said, as rising supply and stagnant demand erode prices of the metal used to neutralise vehicle exhaust emissions.

Russian diamonds lose their sparkle in Europe

Yesterday

(politico.eu) - In the European bubble in Brussels, diamonds aren’t anyone’s best friend anymore. “Russian diamonds are blood diamonds,” De Croo said in a statement to POLITICO. “The revenue for Russia from diamonds can only stop if the access of Russian diamonds to Western markets is no longer possible. On forging that solid front, Belgium is working with its partners.” The West’s economic war against Russia has already had an impact. Partly because of U.S. sanctions, the Russian diamond trade in Antwerp has already been severely hit. But those rough Russian diamonds are diverted to other diamond markets, and often find their way back to the West, cut and polished. That's why Belgium is working with partners to introduce a "watertight" traceability system for diamonds, a Belgian official said. If it works, this could hurt Moscow more than if Washington or Brussels are flying solo.

Six Stories That Will Shape the Diamond Market in 2023

27 january 2023

(rapaport.com) - Now, the industry is adjusting to the consequences of the Russia-Ukraine conflict and the associated US sanctions on Alrosa. Market forces have not yet enabled that to play out fully. The conflict will likely become even more important in 2023 than it was in 2022 as the supply-demand dynamic adjusts and source-verification programs gain steam. Other factors are also expected to affect the trade in 2023. The US and Chinese economies are experiencing lingering uncertainty, while the lab-grown market continues to grow and evolve. Finally, De Beers and the Botswana government are set to sign a deal that could have wider significance for the industry.

Blockchain Will Transform The Future Of Luxury. Here’s How

26 january 2023

(jingdaily.com) - After losing an estimated $98 billion (672.4 billion RMB) in a single year due to counterfeiting, the luxury industry is embracing a tech-forward crusade to veto the imitation market. The sector may not be able to stop the production and sale of replicas, but it can make it easier for genuine luxury buyers to validate the real thing. For instance, the next time you buy a legitimate luxury handbag, chances are that it will come with its very own verifiable and traceable digital identity.

Why gold is the bright stuff for would-be sanctions busters

25 january 2023

(ft.com) - Experts joke that some Russian-mined gold in British vaults “is so old it has double-headed Imperial eagles stamped on it”. Ownership shifted into non-Russian hands decades ago, they say. But investors are worried that Russian gold could be used for sanctions busting. The London Bullion Market Association is therefore registering it all. The anxiety of investors is apt. Gold is the currency of fear and distrust. The financial systems of the democratic west and authoritarian east are pulling apart amid mutual recriminations. That extends the potential role of gold for national reserves and for transactions where no questions need be asked.

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