Anglo American Boss Says Global Mining Industry Convalescing

Cape Town: Anglo American, which has an 85 percent stake in De Beers, said the past year brought some reprieve for the global mining industry.

De Beers Exploration Budget in ’17 Unchanged

Gaborone: De Beers will keep its diamond exploration budget steady at $35 million in 2017, the company said, while turning to new technology to improve the rate of discoveries.

JVC to Hold Series of Webinars

New York: The Jewelers Vigilance Committee (JVC) will commence an important live webinar series beginning next month designed to help industry members to avoid legal risk and implement compliant business practices.

Gahcho Kué Recovers 68 Carat Diamond

Toronto: Mountain Province Diamonds recovered the largest gem-quality stone yet from its Gahcho Kué mine in Canada.

At 67.87 carats, the octahedron-shaped rough diamond was extracted during the ramp-up of the mine, which was launched in September last year.

ALROSA Unearths Another Special Diamond

Moscow: ALROSA reported it has produced a 110.84-carat diamond at its Jubilee kimberlite pipe and Aikhal Mining and Processing Plant.

Rio Tinto Gifts Bunder Project to Govt of MP

Bhopal: Rio Tinto has decided to gift the Bunder diamond project in India to the Government of Madhya Pradesh after a comprehensive review.

Jewellers Migrate to Unorganised Sector Over New Hallmarking Rule

Mumbai: Around half the jewellery hallmarking business has shifted to the non-hallmarking segment, which is mostly controlled by unorganised sector players, due to a notification restricting hallmarking of only three purities of gold ornaments.

Tiffany’s CEO Resigns

New York: Tiffany & Co.’s chief executive officer Frederic Cumenal has stepped down with immediate effect.

Chairman and former CEO Michael Kowalski will take over from Cumenal as interim CEO, according to a statement on Sunday. Cumenal has been in the role since April 2015, after having previously been the company’s president.

Botswana Diamonds Funds South Africa Project

Gaborone: Botswana Diamonds has agreed to fund an exploration project in South Africa in return for a 72 percent stake in mine developer Vutomi.

As part of the deal, Botswana Diamonds will pay Vutomi a total of $1.2 million (GBP 942,000) in cash, of which $724,269 will be used to fund exploration. Botswana Diamonds will also issue 100 million ordinary shares each worth $0.003 (GBP 0.0025) to Vutomi shareholders, which translates into a payment of $311,648 in equity.

Gemfields Production of Emerald Plummets

London: Gemfields PLC on Monday said first half production of emerald and beryl declined heavily from the previous year whilst output of rubies and corundum saw a significant step-up.