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.


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.


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.


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...


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.


Changing Places: The Shifting Producer Power Play (Why Timing is Everything in Business)

12 february 2014

(IDEX Magazine) - Just over five years ago, when the global financial crisis hit, and during 2009 when the worldwide recession caused a slump in demand for diamonds, Russian diamond miner Alrosa was faced with a stark choice: It could either sell the diamonds that it was continuing to mine at full capacity to the market for prices that had fallen by 40 percent or more, or it could sell its goods to Russia’s state minerals repository, the Gokhran, until the situation turned around. With the Russian Finance Ministry providing the financing, the choice was something of a no-brainer.