OurBuzz
INDIA GOLD CONFERENCE
Future of Gold Refining
An expert panel comprising Satish Bansal,President-Association of Gold Refiners & Mint (AGRM),James Jose, President – Association of Gold Refiners and Mint and MD-CGR Metalloy, Sakhila Mirza, Deputy CEO-London Bullion Market Association (LBMA) and Praveen Baijnath,CEO-Rand Refinery and moderated by Ketan S Dhruv, Director-Bangalore Refinery Pvt Ltd focussed on regulatory issues impacting refiners and creating an ESG mindset in refining to truly make it an ethical and sustainable sector.
From pollution control, environmental consciousness, health and safety of workers to ESG rating metrics and accounting to UN SDG goals – all was integral to be a sustainable refining enterprise.
The discussion also included LBMA, WGC collaboration to develop and implement an international system of gold bar integrity, chain of custody and provenance. Over time, this will help consumers, investors, and market participants to trust that their gold is genuine and has been responsibly and sustainably sourced.
The panel dwelt on policies and regulations of import of dore, long term contracts between miners and refiners, artisanal mining.
DiamondBuzz
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
The Mine’s Operator, Storm Mountain, Cited A Severe Financial Crisis Driven By A Prolonged Drop In Global Rough-diamond Prices, Rising Middle East Conflict
Lesotho’s largest diamond mine, Kao, will cease operations on June 30 and transition to care and maintenance. The mine’s operator, Storm Mountain, cited a severe financial crisis driven by a prolonged drop in global rough-diamond prices, rising Middle East conflict-related fuel costs, and stiff competition from lab-grown diamonds.
Despite a warning last October that the mine required $13 million in fresh capital to survive, the necessary investment did not materialise. According to CEO Neo Hoala, the steep market decline made continued operations unsustainable. The shutdown will impact roughly 750 workers.
The mine’s financial downturn is stark: in 2024, Storm Mountain sold 250,000 carats for $50 million—a massive drop from its $105 million revenue in 2022. Kao’s suspension reflects a broader crisis in the diamond sector, following recent insolvencies and closures at Canada’s Ekati mine and South Africa’s Ekapa and Finsch mines.
WGC Gold Market Commentary: Hiking Up A Volcano
Lesotho’s Kao Diamond Mine To Halt Operations Amid Industry Slump
MCX Gold Higher On Ceasefire Hopes, Crude Oil Price Dip
Harit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection
Ekta Kapoor Turns Investor, Targets India’s $70 Billion Jewellery Opportunity With Ekatra Jewels
WGC Gold Market Commentary: Hiking Up A Volcano
-
National News22 hours agoHarit Zaveri Jewellers Celebrates A Bride’s Royal Spirit In An Indian Wedding With Its New Polki Collection
-
GlamBuzz1 day agoEkta Kapoor Turns Investor, Targets India’s $70 Billion Jewellery Opportunity With Ekatra Jewels
-
International News2 hours agoWGC Gold Market Commentary: Hiking Up A Volcano
-
National News1 day agoTreasures By Tiara Unveils Mumbai Flagship and Café Concept At Cumballa Hill
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.