Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...


GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

Dominion Diamond Mines sues Rio Tinto’s Diavik Diamond

08 july 2020
Image credit: MasterTux (Pixabay)

Diavik Diamond Mines, a wholly-owned subsidiary of Rio Tinto, is being sued by Dominion Diamond Mines, its 40 per cent partner in the NWT’s Diavik diamond mine, according to a CBC News report.
A civil lawsuit citing breach of contract and other claims has been filed against Rio Tinto’s Diavik Diamond Mines. The company has been accused by Dominion Diamond Mines, its 40 per cent partner in the Diavik diamond mine, of managing the Northwest Territories site to the benefit Rio Tinto and the detriment of Dominion.
As per the lawsuit filed with the Supreme Court of British Columbia, Dominion claims Diavik has failed to meet production targets while running significantly over budget, and without regard for the negative economic climate created by the global COVID-19 pandemic. Also, it says that Diavik, which is a wholly-owned subsidiary of Rio Tinto, continued to make ‘cash calls’ from Dominion knowing that Dominion cannot pay for such cash calls.
The company is seeking damages, costs, and a ruling the joint venture agreement has been broken. No cash value was given in the filing and Diavik has not yet responded to the civil claim.
Rio Tinto claims Dominion’s allegations are ‘baseless’.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished