Petra gross diamond reserves down 14% to 33.33Mcts

Petra Diamonds’ gross diamond reserves decreased 14% to 33.33 million carats as of 30 June 2021 compared with 38.86 million carats, a year earlier.

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Vladimir Dyukarev, former COO of ALROSA passes away

Vladimir Dyukarev, a mining engineer, who committed most of his life to the country's diamond industry making his way up from a foreman at the Udachny Mining Division to the COO of ALROSA, passed away today at the age of 78.

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The third J-1 Jewellery Congress to be held in Moscow on September 26-28

The third J-1 Jewellery Congress will be held in Moscow’s Gostiny Dvor Conference Hall on September 26-28. The Congress will become a key educational and business platform for the jewellery industry and will set new vectors for its further development...

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Private investor mulls $500mln investment in two Angola gold mines

A Brazilian-Angolan national, Valdomiro Minoru Dondo, is set to invest $500 million to help jump-start gold mining in northern Angola. This comes three years after Luanda started issuing new licenses to explore precious metals.

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Katoro Gold makes progress in Tanzania, SA

Katoro Gold recorded significant progress across its project portfolio during the six months ended June 30 despite the challenges brought about by the COVID-19 pandemic.

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Revenge-Spending Binge

13 april 2021

(bloomberg.com) - Shoppers are out for vengeance. A year into a pandemic that’s devastated lives, jobs and the economy, those who are lucky enough to have disposable income are ready to go out and splurge — even if they still have nowhere to go in that stunning dress or those brand-new sneakers. Some are calling this “revenge spending.” U.S. retail sales are near record highs and employment, and vaccinations are on the rise. Americans have amassed a massive stockpile of excess savings — Bloomberg Economics estimates it to be about $1.7 trillion since the beginning of the pandemic through January. And that’s about to be bolstered by a new round of stimulus payments. As the economy reopens, consumer spending over the next two quarters is likely to be the strongest such period in at least 70 years with a rebound in services leading the way, according to economists at Wells Fargo & Co.