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

The battle for Namdia diamonds

13 september 2021

(namibian.com.na) - The state-owned Namib Desert Diamonds (Namdia) plans to start auctioning some of its diamonds on the internet, but there are concerns that the parastatal continues to sell rough diamonds cheaply to buyers in Dubai and India. Namdia, a 100% state-owned company, born out of an agreement between the government and diamond giant De Beers in 2016, was established to 'test' whether Namibia was getting the best income through the multinational by going onto the open market. But question marks have always lingered around Namdia's formation, especially since it was started by ministers accused of corruption in the past, such as former minister of justice Sacky Shanghala and former minister of mines and energy Obeth Kandjoze. Critics believe that Namdia – led by Kennedy Hamutenya – is still being used to enrich a clique of individuals in Namibia and Dubai.