Puna Operations produced 1.9 mn Oz of silver in H1

SSR Mining reports second quarter 2018 operating results at our three mines. According to the report, 2Q Increased production at Marigold: Produced 49,436 ounces of gold, an increase of 15% compared to the first quarter. Production in line with guidance at Seabee: Produced 23,582 ounces of gold, with all ore sourced from the high-grade Santoy mine.

Strong quarterly production at Puna Operations: Produced 1.0 million ounces of silver, for a total of 1.9 million ounces of silver produced in the first half of 2018, exceeding guidance. Paul Benson, President and CEO said, "Solid performance at each of our operations in the second quarter keeps us well on track for full year production guidance. With a stronger second half of the year still in front of us, we look forward to delivering into near-term growth."

Alrosa to increase its stake by 10% in Nyurba

At the absentee voting on July 10, Alrosa Supervisory Board resolves to increase the Company’s stake in PJSC Alrosa-Nyurba up to 97.48% by purchasing 10% of shares. Alrosa holds 87.48% of shares in PJSC Alrosa-Nyurba. 2.523% of shares belong to minority shareholders. A 10%-stake belongs to JSC RIC Plus controlled by the Government of the Republic of Sakha (Yakutia).

This stake is included in the forecast plan for the state property privatization in Yakutia, and the Republic is planning to use the proceeds from the sale to support and develop local producers of goods, works and services, develop and improve the competitiveness of strategic and core enterprises, and implement investment and socially significant projects.

2nd edition of BDW during October 8-10

The Bharat Diamond Bourse (BDB) in Mumbai, India, is pleased to announce that it will be holding the second edition of its Bharat Diamond Week from October 8-10.

The BDB will be building on the huge success of the first Bharat Diamond Week, held from April 23-25, which saw more than 1,000 visitors from India and across the world who did business with 150 Indian exhibitors of polished goods.

Bharat Diamond Bourse Vice-President Mehul Shah, who heads the Bharat Diamond Week project, said: “We were delighted with the first edition of the inter-bourse show which proved to be enormously successful. Now, we want to build on that and take the show up to the next level with more exhibitors and visitors. Our aim is to provide maximum exposure for our small and medium-size companies.”

Alrosa Supervisory Board with new chairman

First Deputy Chairman of the Government of the Russian Federation − Finance Minister of the Russian Federation Anton Siluanov elected as Chairman of Alrosa Supervisory Board. Supervisory Board members adopted a relevant decision at absentee voting on July 10. The Board also elected members of special-purpose committees, including the Audit committee, composed of independent directors only.

Anton Siluanov has been the Chairman of Alrosa Supervisory Board since 2015. Yegor Borisov, Counselor of State of the Republic of Sakha (Yakutia), has been elected as First Deputy Chairman of the Supervisory Board. Sergey Ivanov, Alrosa CEO, has been elected as Deputy Chairman of the Supervisory Board.

US Retail Sales at Steady Run

June Retail Sales Continue ‘Steady Run’ With 4.2 Percent Increase Over 2017 Despite Threats from Trade War

WASHINGTON, July 16, 2018 – June retail sales were up 0.07 percent seasonally adjusted from May’s strong performance and increased 4.2 percent unadjusted year-over-year as economic growth continued despite the U.S. trade war with China and other countries, the National Retail Federation said today. The numbers exclude automobiles, gasoline stations and restaurants.

Leading researchers at GIA’s Symposium

Objective and independent scientific research is critical to understanding the impact of new gem discoveries, treatments, identification techniques and evolving technologies in the gem and jewelry industry. Leading researchers in geology, mineralogy, diamond formation and related fields will present their latest findings at GIA’s (Gemological Institute of America) International Gemological Symposium, Oct. 7-9, 2018 in Carlsbad, California.

Dr. Saleem Ali, senior fellow at Columbia University’s Center on Sustainable Investment and director of the Gemstones and Sustainable Development Knowledge Hub at the University of Delaware, will discuss “Gemstones and Sustainable Livelihoods: From Mines to Markets.”

DGCX collateral basket with Standard Chartered

The Dubai Gold and Commodities Exchange (DGCX) and its Central Counter Party (CCP) subsidiary, Dubai Commodities Clearing Corporation (DCCC), announced that clearing members can now deliver eligible global securities as collateral. To underpin the expansion of the collateral basket, Standard Chartered Bank will provide Custody Management Services on this additional form of collateral and will be responsible for safeguarding the assets.

DCCC Clearing Members currently place collaterals against their margin of trading in the form of cash, bank guarantees, term deposits and Trade flow Bullion Warrants, but will now also be able to use the UK and US Government Treasury Bills, bonds, and other approved fixed income securities. The expanded collateral basket will help members efficiently utilize their financial resources and optimize financing costs.

Fura Gems on a merger of ruby assets

Fura Gems, a new gemstone mining and marketing company with emerald and ruby assets in Colombia and Mozambique, respectively has entered into a merger of ruby assets agreement, pursuant to which the Company will acquire controlling ownership in the issued and outstanding shares of entities and interests in joint ventures that collectively own interests in nine additional ruby licenses in the Montepuez District of Cabo Delgado province in Mozambique.

Acquisition of nine ruby assets in Mozambique from Mustang Resources Ltd and Regius Resources Group Ltd for a total consideration of A$15 million (approximately C$14.6million), payable in A$3m (approximately C$3 million) cash and approximately 12.7million.

Tariffs will boomerang to harm US

The US’s plans to hit $200 billion worth of Chinese imports with 10% levies will span the range of consumer and industrial goods, from agricultural and beverages to fuel and trailers. The US Trade Representative’s tariff list covers over 6,000 product types “from across all sectors of the Chinese economy”, Caixin quote.

According to the USTR, the measures have been put in place as a reprimand for Beijing’s retaliatory tariffs introduced last week in a tit-for-tat move, with it becoming “apparent”, that the initial $34 billion signed in by the White House was “not sufficient” to force China to change its controversial trade practices.

Alrosa sells diamonds worth US$ 390 mn in June

Alrosa, the world’s largest diamond miner, announces diamond sales results for June and six months of 2018.

In June 2018, Alrosa Group sold USD 390.3 million worth of rough and polished diamonds. Rough diamond sales by value amounted to USD 383.7 million, polished diamond sales – USD 6.6 million.