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Petra Kimberley Ekapa Mining
Petra Hit by Strikes at Two Mines
Workers are striking at two Petra Diamonds projects inSouth Africa, adding to the company’s woes amid uncertainty over the future of anothermine in Tanzania.Industrial action has been disrupting operations at the Finsch and Kimberley mines...
Mining Sep 19, 2017 Rapaport News
Indian gold jewelry
India’s Titan Upbeat on Jewelry Sales
Titan Company reported strong jewelry sales in the firstfiscal quarter and said it expects to benefit from India’s new tax system.The jewelry division saw 50% year-on-year growth during theperiod running up to the Akshaya Tritiya...
Retail Jul 05, 2017 Rapaport News
India Arch
India Eases Rules on Controversial Excise Tax
The Indiangovernment relaxed rules on a 1-percent excise duty on jewelry that led to asix-week strike earlier this year.Under thenew terms, businesses with revenue of up to $2.2 million (INR 150 million) areexempt from the tax, whereas...
Financial-Legal Jul 28, 2016 Rapaport News
Gold bars
Tanishq Gains in Indian Gold-Buying Season
Titan Company said its Tanishq brand probably increased itsmarket share during a crucial part of the Indian jewelry calendar, as salesgrew while competitors faltered.The Akshaya Tritiya weekend in May, traditionally a strong time forbuying gold,...
Retail Jul 06, 2016 Rapaport News
India Arch
India Tax Changes: One Win, One Defeat for Jewelers
The Indian government reversed a decision to broaden theapplication of a jewelry tax but is standing by a new stringency requiring morecustomers to present identity cards in shops.Tax collected at source, a 1-percent levy paid by customers,will only apply to jewelry purchases of $7,422...
Financial-Legal May 25, 2016 Rapaport News
India Jewelry Consumer
Titan Sales Hit by Indian Jewelers’ Strike
Titan Company blamed a weak consumer sentiment and an Indianjewelers’ strike for a drop in annual sales and profit.Revenuefell 5.3 percent to $1.69 billion (INR 112.8 billion) over the year to March 31,while net profit slumped...
Retail May 08, 2016 Rapaport News
India Arch
Indian Jewelers’ Strike Ends Ahead of Gold-Buying Festival
A strike by Indian jewelers to protest a tax has been calledoff permanently, according to the All India Gems & Jewellery TradeFederation (GJF). At least 90 percent of jewelers from around the country returnedto work April 13, but...
Financial-Legal Apr 17, 2016 Rapaport News
India Arch
Indian Jewelers Take Two-Week Pause from Strike
Indian jewelers suspended their strike against a 1-percent taxto eke out a two-week period in which they can open for business ahead of an upcomingfestival and amid signs the government won’t budge on the new excise...
Financial-Legal Apr 13, 2016 Rapaport News
Indian Jewelers Set Up National Panel to Lobby Scrapping of Excise Levy
More than 20 jewelry representatives from major industryassociations in India have formed an action group to put pressure on thegovernment to abolish a new excise duty that has had trade members strikingfor the past six weeks.The All...
Financial-Legal Apr 11, 2016 Rapaport News
Indian Jewelers’ Strike ‘Will Continue Until Excise Duty Scrapped’
Swathes of Indian jewelers are still on strike over a new1-percent excise duty, it has emerged, as industry bodies continue to protestthe tax.Some 300,000 shopkeepersacross India, as well as their staff, have downed tools as part of the action,which is approaching...
Financial-Legal Mar 28, 2016 Rapaport News
India Arch
Details Emerge of Deal That Ended Indian Jewelers’ Strike
The Indian governmenthas pledged no arrests or prosecutions will be made in relation to a new tax onthe jewelry industry and central excise officers will not visit jewelers untila new committee publishes its opinion on the matter.Detailshave...
Financial-Legal Mar 22, 2016 Rapaport News
India Arch
Indian Jewelers End Strike over Excise Duty
Jewelers in India have called off a 19-day strike against anew tax on the industry after the government said the excise department willnot “harass” them, Reuters reported, citing the head of the India Bullion...
Financial-Legal Mar 21, 2016 Rapaport News
India Arch
India Strike Costing Jewelers $150M per Day
A jewelers’ strike in India protesting anew 1-percent excise tax is causing industry members to lose $150 million perday, Bloomberg reported March 9, citing the All India Gems & JewelleryTrade Federation.The industrial action, which hasentered...
Financial-Legal Mar 09, 2016 Rapaport News
Lace mine
AMCU Members Strike at DiamondCorp's Lace Mine
DiamondCorp reported that members of the Association of Mineworkers and Construction Union (AMCU) employed at the company's Lace diamond mine in South Africa began strike action on October 23. The miner's are protesting management's refusal...
Financial-Legal Oct 26, 2014 Deena Taylor
small ice road
Renard Road Construction Continues to Progress as Strike Ends
Stornoway Diamond Corporation confirmed that a strike action by the Alliance of Unionized Construction Workers of Quebec has been settled. The explorer told investors this past week that the strike resulted in limited interruption on the...
Mining Jun 25, 2013 Jeff Miller
stornoway logo
Stornoway Expects Limited Interruption on New Mine Road
The Alliance of Unionized Construction Workers of Quebec announced a strike action in Canada, which covers all unionized construction workers in Quebec, and has resulted in a limited interruption of Stornoway Diamond's construction of the Renard mine road. Stornoway...
Mining Jun 19, 2013 Jeff Miller
Nationwide Strike Hits Indian Diamond Market Activity
The Indian diamond market activity was affected on Thursday due to the nationwide strike called by the country’s opposition political parties to protest the recent sharp hike in fuel prices.“Several offices are closed today and there isn't any activity in the market,” said an executive with a Mumbai-based...
Polished Markets May 31, 2012 Dilipp S Nag
Jewelry Store Window
India Removes Excise Duty on Jewelry
The Indian government has withdrawn the excise duty on branded jewelry and the proposed duty ‎on unbranded jewelry much to the relief of the industry and consumers.‎‎“The outpouring of sentiment both within and outside...
Retail May 07, 2012 Dilipp S Nag
Jewelry Sales India
Indian Jewelers Suspend Strike Until May 11
Indian jewelers and bullion traders suspended their 21-day strike and opened the business from today following favorable assurance from the Finance Minister, Pranab Mukherjee regarding their demand.“We have deferred the...
Manufacturing Apr 06, 2012 Dilipp S Nag
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