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.

17 september 2021

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.

17 september 2021

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.

17 september 2021

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...

17 september 2021

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.

17 september 2021

A Look at Rough Diamond Prices in the Midst of the Covid Crisis

27 april 2020

(paulzimnisky.com) - Much of the diamond supply chain has been virtually suspended since boarder closures and travel restrictions globally were implemented in the last two weeks of March in response to the Covid pandemic. The diamond manufacturing hub in India was officially closed on March 24 and most retail outlets that sell diamonds and jewelry throughout the world, excluding China, were mandated to shut doors in mid-to-late March. While some rough diamond trading has taken place in recent weeks, the relative volume of transactions has been minimal due the aforementioned travel restrictions, and ultimately a lack of downstream demand as closed jewelers have no need to replenish inventory. Typically, in a crisis-environment diamond trading liquidity dries up, however at the moment the circumstances are especially severe due to the unique nature of an acute concurrent demand and supply shock.