Market regulator, SEBI adds diamond, base metals and alloys to liquid assets list in commodities derivatives

Capital markets regulator Securities and Exchange Board of India (SEBI) added diamond, base metals and alloys to the list of eligible liquid assets for the commodity derivatives segment. Currently, the list of commodities permitted as liquid assets consists of bullion, steel and agricultural commodities. “Considering the introduction of compulsory delivery-based diamond and base metal derivatives […]

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De Beers to curb supply on weakening of diamond market

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De Beers, the world’s biggest diamond miner by value, is scaling back production plans for this year as it tries adjusting to a brewing industry crisis that’s hitting prices and lowering demand for precious stones. The Anglo American unit said a range of factors, including ongoing trade tensions between the United States and China, contributed to a 27% drop […]

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Global mining output in February hits three–year low; Asia continues to hold the greatest rewards

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Mining production globally registered its fourth consecutive contraction, falling 7.5 per cent year-on-year in February compared to a 3.3 per cent fall the previous month, Statistics South Africa said in a report. This registers as the largest fall in production since March 2016 when output fell 17.4 per cent year-on-year.  Diamonds, iron ore and gold […]

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Diamond prices falling; Bank credit to Indian diamond players drops drastically: Rapaport report

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A report made public by Rapaport reveals that polished-diamond prices softened in January, with 1-carat stones falling by 0.4% last month and 1.8% compared to January 2018, while 3-carat gems fell by 1.8% last month and 5.9% compared to last year. Smaller diamonds saw a less steep decline in prices as 0.5-carat rocks fell by […]

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Global diamond trading slowed down in March, thanks to Nirav Modi — report

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Diamond prices remained flat in March for several reasons, one of which was the famous case against Indian jewellery tycoon Nirav Modi who is accused of spearheading a $2 billion fraud against India’s state-owned Punjab National Bank, a new report from Rapaport said. “The RapNet Diamond Index (RAPI for 1-carat diamonds slid 0.1% in March. RAPI for […]

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Diamond Giant DeBeers initiates work on the world’s largest custom-built offshore diamond mining vessel in Namibia

Diamond giant De Beers is building a new diamond mining exploration vessel — the largest of its kind — for Debmarine Namibia. The 176-m-long vessel that will cost $142-million to build is expected to join the fleet within three years. Debmarine Namibia is a 50:50 joint venture with the Namibian government. “There is a great […]

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