GSI to educate customers at HK September Show

Gemological Science International (GSI), one of the largest gemological organizations in the world, will attend the upcoming Hong Kong Jewelry & Gem Fair at the Hong Kong Convention Center at Hall 3E Concourse at Booth No. 3M226. Representatives from GSI will be on-hand to introduce customers to its new Inventory Integrity program and educate consumers on existing service offerings.

NGTC & Sarine Sign Framework

Sarine Technologies Ltd has signed a strategic framework with the National Gemstone Testing Center (NGTC), the Gems & Jewelry Administrative Center of MNR of P.R. China, the leading gemological laboratory in China, at NGTC’s headquarters in Beijing, on September 16, 2019.

The strategic framework aims to advance diamond grading standards to the highest level, and to implement the industry’s most consistent grading by utilising NGTC’s extensive gemological research and diamond testing expertise and Sarine's developments in the areas of Artificial Intelligence (AI) for the grading of a polished diamond's 4Cs.

Eldorado to produce more Gold over 130K Oz

Eldorado Gold Corporation announces updates on Kisladag metallurgical test work, its expansion plans at Lamaque and its Greek projects. Kisladag metallurgical test work is advancing well with the majority of test results now expected to be completed prior to year-end 2019. IBRT tests are indicating that with the longer heap leach cycle of 250 days, gold recoveries are trending over 50%. 

The preliminary results, utilizing the IBRT metallurgical test work, are indicating a possible mine life extension beyond the current three year guidance. The Company expects to be in a position to determine the most economic path for the development of Kisladag by the end of Q1 2020.

Nirmala Sitharaman Cheers exporters!

GJEPC applauds steps to Boost Exports

Expansion of scope of ECIS by ECGC to banks lending to exports, is

an encouraging step towards resolving the finance woes of the G&J sector!

Gem & Jewellery Export Promotion Council (GJEPC), the apex body of the industry in India has been representing G&J Sector Policy concerns and issues to the Government with an objective to give impetus to exports from the country. In a recently held Board of Trade meeting on 12th September, GJEPC Chairman Shri Pramod Agrawal had urged several key policy recommendations to the Government.

Elizabeth Bay Mine finds buyer

Namdeb Holdings Limited, a joint venture between the Government of the Republic of Namibia and De Beers Group, announced that it sold its Elizabeth Bay Mine and its associated marine assets as a going concern to a member of the Lewcor Group, which is a 100% Namibian-owned Consortium.

Namdeb has explored a variety of options to extend the life of its Elizabeth Bay Mine beyond 2019, but ceased operations in September 2018, as Namdeb could no longer economically run the operation. Following the review, Namdeb concluded that the best way to secure a future for the mine was to find an operator suited to operate the mine in a sustainable way, ensuring continuation of employment and economic activities in Namibia.

No Chinese hope to grow 6%

According to the CER (China Economic Report) numbers from August showed China’s slowdown is deepening just as risks for the global economy mount, piling pressure on the authorities to do more to support growth, reported Bloomberg.

Industrial output rose 4.4% from a year earlier in August, the lowest for a single month since 2002, while retail sales came in below expectations. Fixed-asset investment slowed to 5.5% in the first eight months, with the private sector lagging state investment for the 6th month.

No support to platinum at $1K

According to Andy Hecht’s learning, the price of the active month October platinum futures on the NYMEX division of the CME rose from $793.70 at the end of May to a high at $1000.80 per ounce during the first week of September. Platinum rose to its highest price in 2019, and since early 2018.

While the price of platinum rose by over 26% in a little over three months, the precious metal lagged the price action in gold and silver. Gold rose to its highest price since 2013, and silver made it to a level that it had not traded at since 2016. Meanwhile, two other members of the platinum group, palladium, and rhodium have been in raging bull markets since 2016. The prices of the two other platinum group metals have reached levels that dwarf the price action in the platinum market.

Fekola Mine Expansion positive!

B2Gold Corporation announces positive drill results from the Mamba zone which is located within the Anaconda area approximately 20 kilometres from the Fekola Mine, as well as positive infill drill results from the Fekola mineral resource area and step out results north of the Fekola resource.

India pavilion with 99 players at HK Show

The leading jewellery event in Asia Pacific, Hong Kong Jewellery and Gem Fair 2019 will witness India Pavilion organized by Gem & Jewellery Export Promotion Council (GJEPC). This year, 99 gem and jewellery (G & J) exporters participating at the India Pavilion will be showcasing a wide variety of trendy, unique and innovative jewellery made especially for the Asian market. The India Pavilion is located at Hall 11 (Diamond), Hall 10 (Gemstones) and Hall 3C -E (Finished Jewellery).   

Mr. Pramod Kr. Agrawal, Chairman, GJEPC said, “Hong Kong is a significant market for the Indian gem and jewellery industry. India exported US$ 11.12 billion worth of Gem & Jewellery products to Hong Kong in 2018. The Indian contingent is present in large number and our effort would be to sustain the market share in the region even for 2019. We are looking forward to the show.”

DIL Announces of 50% dividend

Annual General Meeting (AGM) of Diamond India Limited (DIL) held on 13 September 2019 at Bharat Diamond Bourse Convention Hall. The Chairman Mr. Praveen Shankar Pandya briefed the shareholders about the financial results of the company for the FY 2018-19. He mentioned that the company has been able to garner 30% market share in Supply of Gold & Silver to the exporters.

Diamond India Ltd (DIL) is a Trade Body, formed to serve the interests of the stakeholders in Gem and Jewellery sector. Incorporated as a Public Limited Company in 2002, it has a widely dispersed shareholding from the trade. It was initially formed to import Rough Diamonds for supply to the diamond jewellery manufacturers and later it was given permission as a Nominated Agency to import precious metals for supply to jewellers.