Strong Gold production at Kirkland

Kirkland Lake Gold Ltd announced the Company’s full-year guidance for 2019, which includes strong production growth, improved unit costs and a continued strong commitment to exploration and growth. The Company also announced three-year production guidance, which includes the Fosterville Mine achieving over 500,000 ounces of production by 2020 and demonstrates the potential for consolidated production to reach one million ounces by 2021.

According to the 2019 guidance, production growth to 740K to 800K ounces, driven largely by significantly higher production at Fosterville, as well as increased production at Macassa. Exploration expenditures estimated at $100 – $120 million, including capitalized exploration expenditures, with $85 – $100 million targeted for Fosterville and the Northern Territory in Australia.

Get rid of rising supply chain costs

Cost Inflation Is Back, Putting Supply Chains at Risk! Master the art of bringing down costs as prices rise, ink by Peter Hanbury, David Schannon and Caperton Flood. Peter Hanbury is a partner with Bain & Company in the Performance Improvement practice and is based in the San Francisco office. David Schannon is a Bain partner in the firm’s Performance Improvement practice and is based in the Silicon Valley office. Caperton Flood is a Bain partner in the firm’s Performance Improvement practice and is based in the New York office.

They say, 1: Cross-functional savings can double the savings from in-silo initiatives, 2: Developing and analyzing data holistically across silos is a key to identifying the opportunities & 3: A cost czar and cross-functional teams ensure accountability for results. Deflation has allowed companies to improve their margins in recent years without significantly cutting costs.

Optimistic GJ Demand Scenario in US

India’s exports of Gem and Jewellery (GJ) products is expected to be encouraging in USA market during the upcoming Christmas time majorly backed by rising GDP growth, employment rate and private consumption expenditure in the country.

This would be well in line with positive growth of India’s exports of cut and polished diamonds and gold jewellery to USA during the current FY2018 (April-October). India’s exports of cut and polished diamonds grew by around 22.10% (y-o-y) from US$4.45 billion recorded during April-Oct 2017 to US$5.43 billion in April-Oct 2018.

Exports of gold jewellery to USA market also witnessed an impressive growth of 13.13% from US$867.87 million registered during April-October 2017 to US$981.85 million in April-Oct 2018. Since, Jewellery demand in USA has rebounded, India’s exports of G&J products are likely to grow further in the coming months also.

Ethnic Ornaments of Himachal in Delhi

The third exhibition in the 2nd series from reserve collection titled “Uncrowned Glory – An exhibition of Ethnic Ornaments of Himachal Pradesh” was inaugurated by Dr Dharmendra Singh Gangwar, Additional Secretary & Financial Advisor, Ministry of Culture, Government of India, today, 11thDecember, 2018 at  National Museum, New Delhi.

Addressing the event Shri D.S Gangwar said that the Exhibition brings out the jewelry tradition which not only bespeaks the mosaic of socio-cultural heritage and belief patterns of the indigenous people but signifies the artistic inclination of the communities involved in such craftsmanship.

Short term US$ gold price protection

St Barbara Limited has entered into an additional 50,000 ounces of forward gold contracts to be delivered in monthly instalments from January to December 2020 at a forward price of US$1,300 per ounce. This completes the current planned hedge program for the period to December 2020 in relation to anticipated Simberi production.

The forward contracts are notionally assigned to secure a reliable cash margin on a portion of Simberi’s anticipated future gold production in FY20 and FY21. This tranche of forward contracts is denominated in US$ to protect a portion of forecast expenditure exposed to US$ (either directly in US$ or indirectly in PNG Kina).

Anmol launches this Pastel Jewelry collection

Anmol, known for their impeccable designs and craftsmanship since 32years, launches this Pastel Jewelry collection which oozes Luxury and Class. Exquisitely crafted, this truly awe-inspiring edition symbolizes the beauty and grace which surrounds an ‘Anmol Bride’.

This majestic ensemble comprises of 22K gold jewelry which involves pastel enameling, and beautifully combines complex Kundan with Meenakari artwork. Each piece of jewelry in this set also consists of a mixture of pink and turquoise pastel shades. In addition, it also possesses choker and intricate motifs which pay rich tribute to brides wanting to plan their wedding this coming winter season.

First UAE Africa Gold Convention

Dubai Gold and Commodities Exchange (DGCX) and IBMC Financial Professionals Group (IBMC) announce that they will jointly hold the first UAE Africa Gold Convention on 8 January 2019. The one-day event will bring together a wide range of industry participants at the Dubai, including importers and exporters, refiners, miners, vault operators, exchanges and regulators, with the aim of connecting the business communities between the United Arab Emirates and Africa.

His Excellency Sheikh Khalid Bin Ahmed Al Hamed, Chairman of IBMC, UAE; Les Male, CEO, DGCX; and Sajith Kumar P K, CEO & Managing Director, IBMC Global Network, officially announced the event at a signing ceremony in Al Bateen Palace Majilis, Abu Dhabi. It was revealed that the convention will cover all major gold-related activities including imports, transportation, refining, storage, retail, and trading. Post-event activities will also take place to help African entities establish their businesses in the UAE.

Exclusive gold hue at Vicenzaoro January

More and more jewelry companies await Vicenzaoro January, to run through January 18th – 23rd 2019 as a starting point to present all the latest news and collections to the reference market.

First appointment of the year for the jewellery sector, the trade show organized by Italian Exhibition Group (IEG) it is in fact the reference point in Europe and is considered an exclusive launch platform for the new creations of the most important jewellery brands.

New collections and precious creations will alternate within the ICON Community, which is entirely dedicated to fine jewellery brands. The community includes Italian and international companies that combines classic design and the heritage of artisanal tradition with avant-garde and contemporary styles, enriching their creations with materials and precious stones of the utmost value.

DRI cracks Gold Smuggling of Rs. 21 crore

In a major operation launched by Directorate of Revenue Intelligence, (DRI), Ministry of Finance against an organized smuggling syndicate, 66 kg of smuggled gold valued at about to Rs 21 crore has been seized on 06^thand 07^th December, 2018. The seizure has been made at Lucknow, Kolkata and two premises in Siliguri. 

In this DRI operation, four persons have also been arrested and four cars used in smuggling have been seized.

Specific information was received by DRI that a smuggling syndicate is actively engaged in smuggling of huge quantity of foreign origin gold from Bhutan into India through Indo-Bhutan border in West Bengal and sending it to different parts of India.

Alrosa November sales reached $274mn

Alrosa, the world leader in diamond production, announces diamond sales results for November and eleven months of 2018.

In November, Alrosa Group sold $274.0 million worth of rough and polished diamonds (-18% YoY). Rough diamond sales in terms of value amounted to $266.6 million, polished diamond sales –$7.4 million.

Alrosa’s total diamond sales in January-November 2018 grew 3.7% YoY and amounted to $4.2 billion.