US Holiday jewelry sales expected to skyrocket

According to Mastercard SpendingPulse, US jewelers can expect revenue from jewelry sales in the US between November 1 and December 24 will grow 59% compared to the same period last year.

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Australia becomes world’s biggest producer of gold for first time

Australia has become the world’s biggest producer of gold for the first time, having played second fiddle to China for the last decade. Australia unearthed 157 tons of gold in the first half of the year, pipping China by four tonnes.

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Nigerian minister mulls death penalty for gold smuggling – report

Nigeria’s deputy minister in charge of mines and steel development has called for the death penalty for gold smuggling in the West African country.

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Gemfields back to black

Gemfields is expected to register a net profit after tax of $23.8-million in the first half of the year compared with the net loss after tax of $56.7-million, a year earlier. Earnings per share are expected to be 2 US cents from a loss per share of 4...

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Debmarine Namibia's new diamond recovery vessel to arrive in SA next week

Debmarine Namibia’s new N$7 billion diamond recovery vessel, Additional Mining Vessel #3 (AMV3), is expected to arrive in Cape Town, South Africa next week ahead of commissioning early next year.

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Diamond Business Loses Luster — WSJ

14 april 2020

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Image credit: Petra Diamonds

(morningstar.com) - This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (April 4, 2020). The diamond industry faces a reckoning, with mines and processing centers closed due to the coronavirus pandemic and demand threatened by a looming global recession. Market leader De Beers, a unit of Anglo American PLC, has canceled a diamond auction, its third planned for this year, after its second auction ended in early March with sales down 28% from last year's event. Meanwhile, smaller mining companies such as Petra Diamonds Ltd., Dominion Diamond Mines and Mountain Province Diamonds Inc. confront rising risk of financial default after virus concerns led them to close their mines.