Diamond mining was hit hard in 2025 as De Beers reported a steep revenue fall, accumulated about $2 billion in unsold natural stones and moved to cut over 1,000 jobs while Anglo American advanced plans to sell the business and merge with Teck Resources. Russia’s Alrosa saw profits drop nearly 80% and halted operations at key sites, while smaller miners entered administration or closed pits as lab-grown diamonds eroded prices. Botswana’s Debswana will cut output by up to 40% in 2025, and producers under the Luanda Accord pledged 1% of annual revenues to a global marketing push for natural stones.

NioCorp Developments’ Board has approved the Mine Portal Project for the Elk Creek critical minerals project in Nebraska, establishing the main underground mine entrances that will handle all personnel, equipment and materials access. The portal complex will be the primary interface between surface infrastructure and the planned underground operation targeting niobium, scandium and titanium, enabling subsequent development of declines, services and ventilation circuits. Early works on the portal will be critical for scheduling shaft sinking, underground construction and future production ramp-up.

Gold, silver and platinum hit fresh records on Friday, with spot gold touching $4,540/oz, February Comex futures peaking at $4,584/oz and March silver futures jumping over 9% to $78.30/oz, as palladium surged 13% to above $2,000/oz. Gold is heading for a >70% annual gain, driven by robust central bank buying and ETF inflows, including SPDR Gold Shares (GLD) increasing its holdings by more than 20% and physically backed funds taking in $82 billion (749 tonnes) by 22 December. Silver has rallied 160% in 2025 amid an October short squeeze, ongoing supply dislocations between London and New York vaults, and a pending US Commerce Department probe that could impose tariffs or trade restrictions.