Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 8 that are worth another look.The penetration of nickel-cobalt-manganese type-811 batteries into the Chinese electric vehicle industry will be quite limited in 2019, market participants have told Fastmarkets. A new duty on imported copper raw materials in Zambia has already led to consequences, with produc...Read More
RAPAPORT... De Beers has approved plans to allow sightholders to referto its goods as "DTC diamonds," a company spokesperson confirmed with RapaportNews on Tuesday. The miner consulted with clients during the December sightin Botswana, proposing to relax its ban on buyers identifying diamonds as DeBeers goods further down the supply chain. Until now, sightholders could onlydisclose their supp...Read More
Swiss trading house Mimeta has acquired the metals and alloys trading division of its competitor, compatriot company Impag.The deal became effective on January 1, Impag said on December 10.Lausanne-headquartered Mimeta,...Read More
RAPAPORT... Lucara Diamond Corp. recorded an 8% premium in theinaugural sale of rough on its new digital platform, which it completed lastmonth, the miner reported Tuesday. Five out of seven participating manufacturers andjewelers came away with goods, with total proceeds reaching $660,865, Lucarasaid. The platform, Clara Diamond Solutions, uses technology to match buyerswith available rough based...Read More
RAPAPORT... Private-equity firm Huron Capital has made a "significant"investment in WD Lab Grown Diamonds, forecasting sharp growth for the companyand the synthetics sector. The injection of funds will help WD expand its capacity toproduce lab-grown diamonds for jewelry and industrial purposes, themanufacturer said Monday. Clive Hill, the company's founder, will remain itsCEO, while Yarden Tsach w...Read More
Canada's Lucara Diamond (TSX:LUC), the company that hit the jackpot in 2016 after finding the world's second-largest diamond, said Tuesday its priority this year will be the completion of a feasibility study into potential underground production and life-of-mine expansion for its Karowe project, in Botswana."Having stabilized and significantly improved our mining operations at Karowe in 2018, Luc...Read More
The penetration of nickel-cobalt-manganese (NCM) type-811 batteries into the Chinese electric vehicle (EV) industry will be quite limited in 2019, market participants have told Fastmarkets.Cost and safety are the two major hurdles facing the use of NCM811 batteries, which include nickel, cobalt and manganese in a ratio of 8:1:1. This is despite the application of China's 2018 EV subsidy policy, wh...Read More
India's Supreme Court has upheld its earlier order to reopen Sterlite Copper's Tuticorin smelter, which was closed for environmental reasons, according to a statement from its parent company Vedanta on Tuesday January 8.The ruling from the highest court of appeal in India has cleared the legal barriers for the 400,000-tonne-per-year smelter to resume operations. Plans to double the smelter's capac...Read More
(IDEX Online) - Israel's net polished exports stabilized in 2018, totaling $4.48 billion, according to figures published by the Diamond, Gemstones and Jewelry Administration of the Israeli Ministry of the Economy. Net polished diamond imports totaled $3.04 billion, while net rough diamond exports stood at $2.25 billion, and net rough imports totaled $2.66 billion. For the first time...Read More
Comex copper prices sustained a modest recovery Tuesday morning in the United States, with the market awaiting further clarity on the current trade unrest.The copper price for March settlement on the Comex division of the New York Mercantile Exchange inched up 0.60 cents to $2.6430 per lb.While market optimism around US-China trade talks has resulted in a fairly upbeat performance in US...Read More
TSX-, Nasdaq- and Botswana Stock Exchange-listed Lucara Diamond Corporation will, this year, prioritise the completion of a feasibility study into the potential for underground production and life-of-mine expansion from 2026 to 2036 at its Karowe prospect, in Botswana.Lucara has set aside a $14.8-million budget to complete geotechnical and hydrogeological drilling programmes in 2019, as well as ec...Read More
Imperial Metals Corporation has suspended operations at its Mount Polley copper mine due to declining prices, and will not restart until the economics of mining improve, the company said. The suspension plan includes milling of low grade stockpiles which is targeted to extend operations to the end of May 2019. The mine's ongoing environmental monitoring and remediation program will not be impacted...Read More
The Letšeng mine in Lesotho has produced a 101 ct diamond, bringing the total recoveries to a record 14 diamonds of more than 100 ct during the year, London-listed Gem Diamonds reported on Wednesday.Besides the 101 ct diamond, the miner also extracted a 71 ct white Type IIa diamond.AdvertisementLetšeng is the highest dollar per carat kimberlite mine in the world.To watch Creamer Medi...Read More
(IDEX Online) - Private equity firm Huron Capital has made a significant equity investment in WD Lab Grown Diamonds which is based in the Washington D.C. area and produces large, high-quality laboratory grown diamonds for the jewelry, scientific and industrial markets. "The Huron Capital investment is expected to help us significantly expand our capacity in the fast-growing, high-quality se...Read More
Brazilian carmakers produced 177,700 light vehicles, trucks and buses during December 2018, according to figures from national manufacturers' association Anfavea, published on Tuesday January 8.This volume was 16.80% lower than the 213,707 units produced in the corresponding period in 2017.December's figures were the lowest monthly totals since January 2017 and the principal reason why the guidanc...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedE26 Lift 1 North (E26L1N) will cost more than A$200 million over three and a half years, with construction to begin this month.Full production is slated for mid-2022 with the project to deliver 40 million tonnes of ore over 10 years.PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedIt will involve 11km of unde...Read More
Flat steel import prices in the Gulf states were little changed over the past week, with lower offers in the UAE nudging prices down, while in Saudi Arabia HRC edged up, sources said on Tuesday January 8.Demand was subdued because stock levels in the UAE were already high and buyers have not started to place bookings in 2019, sources told Fastmarkets.UAEChinese hot-rolled coil was on offer to ...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limited"Our preliminary tracer tests of the wellfield in the third quarter 2018 exhibited robust percolation rates through the orebody. These results were as good as, and in some cases better than, modelled in the 2017 technical study," CEO Russell Hallbauer said Tuesday.He added the rate at which the dissolved copper was increasing in th...Read More
Kyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalWith the Cambridge House Vancouver Resource Investment Conference taking place mid-January, Mining Journal asked its keynote speakers what they think 2019 will bring the sector.Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedIn its annual copper production forecast, Cochilco said production from existing mines will fall 19% to about 4.46Mtpy despite expansion and optimisation projects with the growth it forecasts coming from new builds.Openpit mines will continue to dominate the production landscape in Chile providing well over 80% of metal output thro...Read More