Diamond News Archives
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New mining projects, particularly in the gold sector, are expected to drive strong economic growth in Canada’s far north, with Yukon and Nunavut surpassing the rest of Canada by 2010, a new report shows.
According to The Conference Board of Canada’s latest Territorial Outlook, the nearby Northwest Territories (N.W.T.), however, face challenging times as the diamond industry there matures and production of precious stones is forecast to fall over the next six years. Yet the N.W.T is set to benefit from the growth the mines in Nunavut and the Yukon will bring, mostly in other areas of the economy, with growth in services-based industries remaining flat for much of the forecast.
Economic growth in Nunavut, the Yukon and Northwest Territories as a whole is forecast to average 4.7% in 2019 and 4.5% in 2020 — easily outpacing the forecast Canadian average of below 2% growth.
“While the mining sector has been more cautious in this upswing cycle than in the past, there are still several mining projects that are advancing through the approval process and will bolster economic growth and employment opportunities in the northern territories over the next few years,” said Marie-Christine Bernard, Director, Provincial and Territorial Forecast, The Conference Board of Canada.
Fuelled by the construction and operation of new mines, economic growth in the territories as a whole is forecast to average 4.7% in 2019 and 4.5% in 2020 — easily outpacing the forecast Canadian average of below 2% growth.
Between now and 2020, Nunavut’s economy alone is expected to grow by an average of 7.3%, and then slow down to 4.6% annually, still higher than any other territory or province. Most of that growth will come from the expansion of Agnico Eagle’s Meliadine and Amaruq gold mines, as...
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By Jonathan Stempel
NEW YORK (Reuters) - Citigroup Inc and JPMorgan Chase & Co will pay $182.5 million to settle U.S. investor litigation claiming they violated antitrust law by conspiring with other banks to rig a key European interest rate benchmark.
A preliminary settlement addressing the banks' alleged manipulation of the European Interbank Offered Rate, or Euribor, was filed on Wednesday night with the U.S. District Court in Manhattan, and requires a judge's approval.
Five banks have reached $491.5 million of settlements in the case, including earlier settlements of $170 million by Deutsche Bank AG, $94 million by Barclays Plc and $45 million by HSBC Holdings Plc.
Euribor is the euro-denominated equivalent of Libor, a benchmark for setting rates on hundreds of trillions of dollars of credit cards, student loans, mortgages and other debt.
Investors including the California State Teachers' Retirement System (CalSTRS) pension fund accused banks of rigging Euribor and fixing prices of Euribor-based derivatives from June 2005 to March 2011 to profit at their expense.
According to the settlement agreement, Citigroup and JPMorgan denied wrongdoing, and settled to avoid the cost and distraction of litigation. Several banks remain defendants.
Citigroup spokeswoman Danielle Romero-Apsilos and JPMorgan spokeswoman Tasha Pelio declined to comment on Friday. Vincent Briganti, a lawyer for the plaintiffs, also declined to comment.
Many lawsuits in the Manhattan court seek to hold banks liable for alleged rigging in interest rate, commodity, currency and other financial markets.
JPMorgan this week reached a separate $7 million settlement of investor claims that it conspired with rivals to rig the Australian Bank Bill Swap Reference Rate, becoming the first bank to settle that litigation. The same law firms represented investors in that case and the Euribor case.
The case...
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Lab-grown diamonds, made for decades as an inexpensive alternative to mined stones for industrial purposes, are cracking the consumer market largely thanks to millennials' evolving shopping tastes.
In a recent survey of 1,000 consumers aged between 21 and 40, half of which had household incomes of $50,000 or higher, nearly 70% said they would consider buying a lab-grown diamond for an engagement ring, MVI Marketing revealed earlier this year. That was a 13 percentage-point increase from the year before, when 57% said the same.
The entry of new actors in the synthetic diamond market, particularly giant producer De Beers and its Lightbox brand, has created even greater awareness for lab diamonds and is spurring more consumer activity,
Yet, many claim that despite the increasing popularity of synthetic diamonds, mined ones remain a superior choice.
The fellows at Pure at Birth have created the following infographic to help you decide:
The post Mined of lab-made diamonds? The answer is personal appeared first on MINING.com....
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(IDEX Online) – The winter edition of the Vicenzaoro show will take place from January 18-23, said organizers the Italian Exhibition Group S.p.A. (IEG).<?xml:namespace prefix = "o" ns = "urn:schemas-microsoft-com:office:office" /?>
The first major tradeshow of the year, it is regarded as setting the scene for upcoming jewelry trends and as a showcase for the launch of leading jewelry brands’ latest creations, said the IEG.
Exhibitors are divided in relation to their positioning and individual brand targets to make touring the show easier for visitors.
More than 60% of the buyers who will be taking part in the show are for overseas, coming from 130 countries.
Among the top brands will be Roberto Coin with new versions of the “Princess Flower” collection; Damiani who will present the “D.Side”, “Eden” and, from the iconic “Belle Epoque” collections, Fope, Crivelli, Leo Pizzo, Tamara Comolli, Djula are some of the top brands to be hosted in the ICON district for global brands.
Alessio Boschi, Lydia Courteille, Mattia Cielo and Monica Rich Kosann are among the designers selected this year to appear in The Design Room, the experimentation and creativity workshop that hosts the most exclusive and refined pieces of the entire exhibition. ...
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