LDJS 2022 concludes on a huge success note

India’s Biggest Lab Grown Diamonds & Jewellery Show (LDJS 2022) for Indian and international jewellers saw more than 25,000 visitors during the 4-day exhibition.

Yesterday

Zimbabwe to sell smaller gold coins

The Reserve Bank of Zimbabwe (RBZ) is planning to sell smaller gold coins starting from November to cater for low-income earners. The Herald quoted the central bank governor John Magudya as saying that the small gold coins will contain 3,11 g...

Yesterday

Capital cost for Karowe underground expansion rises – Lucara

Lucara Diamond says the estimated capital cost for the Karowe underground expansion project, in Botswana, has increased from $534 million to $547 million. It said the increase reflects expected pricing changes following the execution of the main sink...

Yesterday

Gem Diamonds committed to protecting biodiversity

Gem Diamonds, which has a 70% stake in Letseng Diamond mine in Lesotho, says it is committed to protecting biodiversity, mitigating environmental damage and enhancing local conversation.

Yesterday

Amplats, Royal Bafokeng extend disposal of concentrate agreement

Anglo American Platinum (Amplats)’s wholly-owned subsidiary Rustenburg Platinum Mines (RPM) has agreed to extend its disposal of concentrate agreement (DOCA) with Royal Bafokeng Resources (RBR) to February 10, 2023. The...

15 august 2022

Knotty nickel supply chain highly exposed to fresh shocks

01 august 2022
(mining.com) - The nickel market is hostage to two mercurial players: Russia’s Vladimir Potanin and China’s Xiang Guangda. Both the bosses of Norilsk and Tsingshan have swayed the market for decades. But now the pair’s impact on nickel trading is even more outsized. There are no sanctions on Russian nickel. Canada, Australia placed sanctions on Potanin. The UK followed suit at the end of June. Judging by the lack of market reaction to the announcements, Norilsk’s nickel appears to be flowing freely, with the price dipping below $20,000 a tonne this week for the first time this year. Kwasi Ampofo, Head of Metals and Mining at BloombergNEF, tells MINING.COM that while Russia is responsible for around 9% of global nickel production, its output of class 1 nickel is closer to 20%. That makes it by far the biggest producer globally of nickel suitable for the battery supply chain.