In the spotlight

Report finds that Canada sets record for worldwide exploration spending at $3.9 billion

Global interest in Canadian minerals and metals reached a record high in 2011 as measured by exploration spending, according to the Mining Association of Canada's (MAC) Facts & Figures 2012 report.

Exploration investment in Canada reached US$3.9 billion in 2011, with spending for 2012 expected to have climbed even higher.

Canada is the world's third-largest producer of rough diamonds.

Jewelry from historic Cartier Collection goes on display at Madrid museum

Around 400 items of jewelry from the historic Cartier Collection have gone on display at Madrid's Museo Thyssen-Bornemisza.

The well-known French jewelry firm has created a display, called the Art of Cartier, presenting a selection of the finest jewels that the firm has repurchased over the decades.

Canadian report sees record worldwide spending in country on exploration

Global interest in Canadian minerals and metals reached a record high in 2011 as measured by exploration spending, according to the Mining Association of Canada's (MAC) Facts & Figures 2012 report.

Exploration investment in Canada reached US$3.9 billion in 2011, with spending for 2012 expected to have climbed even higher.

Canada is the world's third-largest producer of rough diamonds.

Harry Winston sells luxury diamond jewelry and timepiece subsidiary to Swatch Group

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Harry Winston Diamond Corporation is selling its luxury brand diamond jewelry and timepiece division, Harry Winston Inc., to The Swatch Group Ltd. for $750 million plus the taking over of up to $250 million of pro forma net debt.

Harry Winston Chairman and Chief Executive Officer, Robert Gannicott says, "At the time that we purchased the Harry Winston brand, resource investment opportunities for diamonds were rare and expensive following the euphoria of the Canadian diamond discoveries, and the involvement of the large international mining companies.

Swatch Group sees 14% jump in sales in 2012 with watches and jewelry leading the way

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The Swatch Group recorded a 14-percent increase in sales in 2012, following a record year in 2011.

The Swiss watch firm's sales were $8.91 billion despite a slowdown in sales to Asia where it recorded, in September, its first monthly fall in three years. Sales in Asia were also lower in October and November.

More than half of the revenues from Switzerland’s largest watchmaker were from Asia in 2011.

Consumer Confidence Index posts second straight monthly fall in December

The widely watched Conference Board Consumer Confidence Index, which had declined slightly in November, posted another decrease in December. The Index now stands at 65.1, down from 71.5 in November.

The Expectations Index declined sharply to 66.5 from 80.9. The Present Situation Index increased to 62.8 from 57.4 last month.

The monthly Consumer Confidence Survey had a cutoff date for the preliminary results of December 13.

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