International News
Anglo American’s copper, diamond production falls in first half
Global miner Anglo American on Thursday reported a 13% fall in copper production in the first half of the year to 342,200 metric tons, and a 26% fall in rough diamonds, as demand remains sluggish.
The London-listed miner still expects to mine 690,000-750,000 tons of copper this year, down from 773,000 in 2024. The metal is used in electrical wiring and its demand is expected to increase for electric vehicles and renewable energy infrastructure.
The miner is restructuring its business to mainly focus on copper, as well as iron ore, following BHP’s failed attempt to take it over last year.
It has demerged its platinum business and has agreed, though not yet completed, the sale of its nickel and coking coal assets. These businesses are now expected to be reported as discontinued operations in the company’s 2025 half-year results on July 31.
Despite a production halt caused by a fire at one of the mines included in the $3.78 billion sale to Peabody Energy (BTU.N) in April, the miner still expects the transaction to be completed.
On Thursday, it said a formal process for the sale of diamond unit De Beers is advancing, despite the current challenging market conditions.
Its first-half rough diamond production dropped 26% to 7.22 million carats. Anglo had previously cut its production forecast for 2025 to a range of 20 million to 23 million carats, from 30 million to 33 million, as demand remains low and inventories high.
Iron ore production increased by 2% to 31.38 million tons in the first half.
International News
US jewellery consumers shift toward premium purchases in November 2025: Tenoris report
US jewellery buyers shifted toward premium purchases in November 2025, boosting average spend per item by 14.5% despite softer unit sales according to the Tenoris report.
Sales Snapshot
Total revenue climbed 3% year-over-year, lagging prior double-digit gains, as consumers splurged on higher-end pieces rather than volume. Finished jewellery led with nearly 5% revenue growth, fueled by rising gold prices and buyer willingness to pay up. Unit sales dipped 10% overall, signaling a quality-over-quantity mindset.
Diamond jewellery saw slight revenue dips but 13% higher spend per item on pricier natural stones; loose diamonds weakened, especially low-end. Gold, silver, and platinum demand shares held steady, rejecting alternatives amid gold’s rally.
Lab-grown diamonds (LGD) lagged, with revenue down despite modest unit upticks—stuck at ~$500 average, failing to attract investment buyers favoring naturals.
Edahn Golan of Tenoris highlights sustained premiumization, where shoppers chase value through upscale selections. This bodes well for high-end suppliers but pressures volume-driven segments like LGD entry-level goods.
-
ShowBuzz19 hours agoCJS 2025 Begins with a power-packed inauguration at Coimbatore
-
New Premises2 days agoTanishq opens in Orlando, at Florida Mall
-
International News2 days agoUS jewellery consumers shift toward premium purchases in November 2025: Tenoris report
-
GlamBuzz2 days agoKapil Sharma’s On-Screen Diamond Hunt Takes Shape at DP Abhushan Jewellery for the Feature Film Kis Kis Ko Pyar Karoon 2
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.