News

The UK will detail plans to broaden its energy sources this week as the war in Ukraine, sanctions on Russia and a cost-of-living crisis forces countries across Europe to urgently revamp how they generate electricity and heat homes. The main focus will be on nuclear and wind power, two industries that haven’t been short of […]

At least 45% of U.S. coal power is set to disappear by the end of the decade, a figure that will likely rise as more utilities conclude their coal-fired plants no longer make financial sense to operate, according to the Institute for Energy Economics and Financial Analysis. Electricity producers have announced plans to shutter 99.2 gigawatts […]

Two more luxury brands have curtailed their involvement in the Responsible Jewellery Council (RJC) as the fallout from the Russia-Ukraine war continues. Bulgari stepped down from the organization’s board last week, parent company LVMH said Monday in an email to Rapaport News. The Italian jeweler — which represents LVMH and its other brands at the […]

Europe’s ambitious timetable for building its way out of a dependence on Russian energy faces potential delays and billions of dollars in extra costs as the war in Ukraine makes steel, copper and aluminum scarce and more expensive. A rush to replace Russian fossil fuels is prompting the continent to focus on shoring up flows […]

Russian miner Alrosa has suspended its membership in the Responsible Jewellery Council (RJC), both organizations announced last week. The development came just over a month after Russia’s invasion of Ukraine. The RJC board of directors voted to accept Alrosa’s decision, the standards groups said Friday. Alrosa exited the RJC board in early March, but remained […]

Ukraine President Volodymyr Zelensky criticized the Antwerp diamond industry in an address to the Belgian parliament Thursday, accusing it of prioritizing profit over peace, according to media reports. “There are people for whom Russian diamonds sometimes sold in Antwerp are more important [than Ukraine’s war effort],” Zelensky said in remarks that the Associated Press cited. […]

The London Metal Exchange said it had introduced daily price limits for all its metals and would commission an independent review into the events that led to chaos in the nickel market last month. The LME has brought in 15% upper and lower daily price limits for all of its physically delivered metals plus cash-settled […]

Canada’s federal budget will include an investment of at least C$2-billion ($1.6-billion) for a strategy to accelerate the production and processing of critical minerals needed for the electric vehicle (EV) battery supply chain, two senior government sources said. Prime Minister Justin Trudeau’s government, which is due to release its budget on Thursday, will make the […]