Fischler, acting president of the World Diamond Council (WDC) and Marie-Chantal
Kaninda, executive director of the WDC, travelled to the Democratic Republic of
Congo (DRC) to meet with key stakeholders involved in the Kimberley Process
and Kaninda met with the chair of the Working Group on Artisanal and Alluvial
Production (WGAAP), the Minister of Mines, the Center for Evaluation, Expertise
and Certification (CEEC) chair, deputy chair and team, the Diamond Development
Initiative (DDI), DRC civil society members and mining companies, cooperatives
tax reform, the Goods and Service Tax (GST), has resulted in formalization of
economy and consequently information flow would eventually augment not only the
Indirect Tax collections but also Direct Tax collections.
the past, the Centre had little data on small manufacturers and consumption
because the excise was imposed only at the manufacturing stage while the States
had little data on the activities of local firms outside their borders. Under
the GST, there will be now seamless flow of availability of common set of data
to both the Centre and the States making Direct and Indirect Tax collections
the context of the KP Intersessional taking place this week, which has brought
the diamond world to Antwerp, the Ministry of Finance of the Russian
Federation, represented by the Deputy Minister of Finance of the Russian
Federation Aleksey Vladimirovich Moiseev, signed a Memorandum of Understanding
with HRD Antwerp for the establishment of an HRD Antwerp diamond grading lab in
Mining reported the updated life of mine plan for the Marigold mine in Nevada-US,
evaluating a sustained mining rate from the additional haul trucks added in
2016 and 2018 as well as year-end 2017 Mineral Reserves, for over ten years of
mining to 2028.
Benson , President and CEO said, "This life of mine plan builds on our
exploration success and Operational Excellence track record at Marigold. Annual
gold production is forecast to exceed 265,000 ounces in 2021 and 2022, a more
than 30% increase over 2017. The new reserve supports mining for over ten years
and gold production for fifteen years, with significant resources and
exploration potential existing beyond the currently defined reserves.
EU hosts Kimberley Process (KP) Intersessional meeting in Antwerp. The
Kimberley Process Intercessional, a week-long event where the members of the
KP, other stakeholders and observers gather to make up the balance of our
industry's efforts to protect the diamond industry and trade from conflict
diamonds and other unwanted influences.
2018, the European Union holds the Chairmanship of the Kimberley Process, a
global partnership which brings together governments, industry and civil
society with the aim to eliminate the trade in so-called conflict diamonds
worldwide. This year, the European Union is chairing the KP and India is
serving as the vice-chair.
trade is growing faster than merchandise and such dynamic changes need to be
captured in the global trading system, stated Suresh Prabhu, Minister of
Commerce and Industry and Civil Aviation. He was speaking at the 6th Growth Net
Summit, being held in New Delhi on 18-19 June 2018, organized by Ananta Center
and Confederation of Indian Industry (CII) with Smadja & Smadja.
to the, Insights of The Quarter published by Bain & co, Thomas Olsen, Ada
Di Marzo, Sen Ganesh and Mike Baxter inks, ‘Wolf in Sheep's Clothing:
Disruption Ahead for Transaction Banking!’
banks increasingly see their futures bound up with a greater presence in
transaction banking—the business of managing cash for companies, and financing
trade and supply chains. Global banks such as Citigroup, HSBC and JPMorgan have
focused on this business for years, and now others are trying to add more
sources of recurring fee income as they struggle to increase their return on
to David Bentley, The South African Reserve Bank (SARB) has outlined its
progress with Project Khokha, a Proof of Concept simulation of distributed
ledger technology for wholesale payments and settlements. The results of the
pilot were announced in a recent statement by South Africa’s central bank,
which is operating the Proof of Concept for interbank transfers on JPMorgan’s
Quorum, an Ethereum based Blockchain.
summary, the Reserve Bank is using Blockchain technology to gain a practical
understanding of how it can work in conjunction with the country’s banking
industry, and to assess the benefits distributed ledgers can provide. The
Reserve Bank said it is not looking to replace its legacy systems at this
stage, but is interested to examine how the Khokha system will work as a back
up to its existing settlement systems.
Resources Minister, SA, Gwede Mantashe says rules in the draft Mining Charter
must not be just about ticking boxes for mining companies but they must work
towards improving the lives of workers and communities.
must have proper trusts, and these trusts must be managed by trustees that
report back to the communities,” said the Minister. He was speaking at a
briefing he held on Sunday following the publishing of the much awaited draft
Mining Charter published.
to CER, US President Donald Trump has threatened to impose a further $200
billion of fresh tariffs on Chinese imports, after Beijing retaliated in equal
measure to the White House’s $50 billion in tariffs signed last week.
a statement, Trump said that he had instructed US Trade Representative Robert
Lighthizer to draw up a list of $200 billion worth of Chinese goods to be
subject to 10% tariffs on top of the 25% rate imposed. “China apparently has no
intention of changing its unfair practices related to the acquisition of
American intellectual property and technology,” Trump said.
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