Mumbai: After the success of the first
edition of the ‘Platinum Buyer-Seller Meet’ (BSM), Platinum Guild International
(PGI) is back with its second edition. The 2nd edition of the Platinum Buyer
seller meet will be held in Chennai from 5th to 7th July 2017 exclusively for
the manufactures & retailers of Platinum Jewellery in India.
Mumbai: Following the implementation of the
new goods and service tax (GST) in India on July 1, jewellery dealers in the
country will pay taxes ranging from 0.25 to 3% for gems. More specifically,
gold, semi-diamonds and cut diamonds will attract a 3% tax, whereas rough
diamonds will be taxed at 0.25%. The new tax rates are in line with the old tax
rates for jewellery, which ranged between 2 and 2.5% for all states except
Kerala. Under the new unified service tax (GST), consumers will effectively pay
a 13% duty on gold and diamond jewellery because the GST Council maintained the
10% import duty. Below is some more information on this topic.
Johannesburg: Rockwell Diamonds said a
court hearing to consider the merits of the liquidation application brought by
C-Rock Mining against its three subsidiaries – Rockwell RSA, HC van Wyk
Diamonds and Saxendrift Mine – that was scheduled for June 22 has been
postponed to October 31, with the consent of all parties.
Toronto: North Arrow Minerals Inc. has
started a $3.2M exploration program at its 100% owned Naujaat (formerly
Qilalugaq) and Mel Diamond Projects in Canada.
Gaborone: Botswana's Debswana Diamond
Mining, a joint venture between De Beers and the southern Africa country's
government, plans to extend the lifespan of its Jwaneng mine beyond 2024,
reports Reuters Africa, citing a mines minister. The project, known as
"Cut 9", has been under discussion for five years as part of the
Jwaneng Resource Extension Project. This Project led to the development of Cut
8, the $3 billion expansion project designed to prolong the Jwaneng Mine an
additional 7 years, ensuring continuous production until at least 2024 and
producing 100 million carats. Cut 8 started delivering first ore to plant in
2017. "Cut 9 will be a huge investment by De Beers as it will require a
significant capital outlay," mines minister Sadique Kebonang said late on
Tuesday. "We should be able to start Cut 9 in the next two to three
years." He also said the Botswana government and De Beers have started
talks about extending their ten-year marketing and sales agreement, which is
due to lapse in 2020.
Ahmedabad: Sarine Technologies Group has filed
lawsuits in India seeking injunctive reliefs and damages for patent and
software copyright infringement, says a press release from the company.
Moscow: Summarizing the results of the
Annual General Meeting of Shareholders, the President of ALROSA Sergey Ivanov
announced that the Company is planning to adjust the development strategy,
although no fundamental changes are expected. The Company will still be focused
on strengthening its leadership in diamond mining and building market strength.
New Delhi: India early on Saturday
introduced its biggest tax reform in the 70 years since independence from
British colonial rule.
Toronto: "Those 238 grams are believed
to be the most rigorously documented export of small-scale gold in
history", writes The Globe and Mail. They are referring to 238 grams of
gold that Canadian NGO Partnership Africa Canada (PAC) purchased from
small-scale mining sites in eastern Congo as part of a pioneering new system of
gold exports called "Just Gold", initiated to generate a new form of
highly detailed sourcing data.
Bangui: The Ministry of Mines, Energy and
Hydraulics of the Central African Republic (CAR) has issued a press release
categorically rejecting the allegations contained in Global Witness' report,
"Game of Stones", which detailed the NGO's investigation into diamond
smuggling from CAR. "The Minister Mr. Léopold Mboli Fatran refutes the
broad allegations in the report which is fundamentally based on a few
testimonies from those involved in the fraud and which lacks substance in the
several claims made against the Central African Republic."
Showing 31 to 40 of 1054 (106 Pages)