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
Seaborne iron ore prices dipped below $75 per tonne cfr China on Tuesday January 22 after briefly standing above the mark, with plenty of offers in the market unbid for.MB 62% Fe Iron Ore Index: $74.78 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Pilbara Blend Fines Index: $75.62 per tonne cfr Qingdao, down $1.12 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $75.78 per tonne cfr Qingd...Read More
As we start 2019, the copper market is faced with the prospects of softer demand growth, given the macro economic outlook, constrained mine supply growth, ongoing disruptions at smelters, additional uncertainly around changes to Chinese policies towards copper scrap imports and low visible exchange stocks. All of these factors will no doubt lead to another year of volatile prices. However, in the...Read More
A global energy transition that's already underway would be good for B.C.'s exploration and mining industry.The province, after all, is geologically blessed with an abundance of many of the raw materials needed for wind turbines, solar power and electric vehicles.But the opportunity posed by decarbonization and the low-carbon economy is a boat that B.C. has already missed, according to one metals...Read More
South Africa-based explosives leader BME will be showcasing its African presence, expertise and technology at the 2019 Investing in African Mining Indaba from February 4th to 7th in Cape Town; it will also highlight its strengthened presence in West Africa, which is poised to become one of the top five gold-producing regions in the world."The mood is even more buoyant than it has been in previous...Read More
MELBOURNE - Australian cobalt developer Jervois Mining said on Tuesday it has agreed to buy a Canadian cobalt explorer with operations in Uganda, as the hunt for quality mines in the battery materials sector gains pace.Jervois, which is backed by ex-Glencore executives, is offering one of its shares for every share in M2 Cobalt, valuing the Canadian company at C$16.6 million ($12.5 million), a 4.5...Read More
SANTIAGO - The union of supervisors at state miner Codelco's Gabriela Mistral mine in northern Chile has rejected the company's final offer for a new collective labor agreement, raising the specter of a strike in the coming days, the union president told Reuters on Tuesday.The union said Codelco, the world's top copper miner, failed to satisfy its demands for a signing bonus, and that the company...Read More
World's No.1 miner BHP (ASX:BHP) revealed Tuesday the hefty financial burden caused by three separate incidents that affected its iron ore and copper operations in the October-December 2018 quarter.The Perth-based mining giant said the forced derailment of a fully-laden iron ore train in the Pilbara and unplanned production outages at Olympic Dam and Spence copper mines would cost it $600 million....Read More
NexGen Energy is embarking on the largest drill program in its history at the Rook I project in the Athabasca Basin. Approximately 125,000 metres is planned, the results from which will be used in a bankable feasibility study for the Arrow uranium deposit.There are three objectives:Convert high grade indicated resources to measured. The high grade indicated resource is currently 2.9 million tonnes...Read More
KUALA LUMPUR - More of the billions of tonnes of materials the world uses each year must be recycled and reused to keep climate change in check, researchers said on Tuesday.Only about a tenth of the nearly 93 billion tonnes of materials utilised annually - including minerals, metals, fossil fuels and biomass - are currently put back into service, said a report by Amsterdam-based social enterprise...Read More
Planned surface infrastructure for the Arrow uranium mine. (Image: NexGen Energy)SASKATCHEWAN - NexGen Energy is embarking on the largest drill program in its history at the Rook I project in the Athabasca Basin. Approximately 125,000 metres is planned, the results from which will be used in a bankable feasibility study for the Arrow uranium deposit.There are three objectives:Convert high grade in...Read More
A global energy transition that's already underway would be good for B.C.'s exploration and mining industry.The province, after all, is geologically blessed with an abundance of many of the raw materials needed for wind turbines, solar power and electric vehicles.But the opportunity posed by decarbonization and the low-carbon economy is a boat that B.C. has already missed, according to one metals...Read More
The domestic price for rebar in the United Arab Emirates fell this week on continued moderate demand, sources told Fastmarkets on Tuesday January 22.Domestic rebarLocal rebar producers in the UAE announced reduced prices for material due to be shipped in February on January 21. The country's largest producer, Emirates Steel, was offering rebar at 1,845 dirhams ($502) per tonne ex-works, down from...Read More
RAPAPORT... The Mothae mine in Lesotho is performing better than expected since reaching commercial production in the fourth quarter. The asset is producing 3.94 carats per 100 tonnes,compared to the initial resource guidance of 1.92 carats per 100 tonnes, theowner, Lucapa Diamond Company, said last week. Lucapa commenced the commissioning phase during the fourthquarter ending December 31, and re...Read More
The Turkish steel producers continued to show very little interest in deep-sea scrap trades because of the weak demand for finished steel in the country's export and domestic markets, sources said on Tuesday January 22.Although some mills have booked a few cargoes to replenish stocks over the past week, with escalating prices, most mills were trying to avoid scrap purchases until they see a recove...Read More
RAPAPORT... The first Rapaport Diamond Podcast Short looks at theholiday season just gone, following a mixed bag of sales results from themajors.Signet Jewelers and Tiffany & Co. both reported a dropin revenues for the crucial period, yet there were some positive signs,including an improvement in e-commerce sales at Signet. Plus, strong figuresfrom the owner of Cartier and Van Cleef &...Read More
South Africa-based explosives leader BME will be showcasing its African presence, expertise and technology at the 2019 Investing in African Mining Indaba from February 4th to 7th in Cape Town; it will also highlight its strengthened presence in West Africa, which is poised to become one of the top five gold-producing regions in the world."The mood is even more buoyant than it has been in previous...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday January 22 that are worth another look.The heads of several steel industry associations in the United States remained divided on the effectiveness of the Section 232 tariffs on US steel imports but found some common ground on the subject of the yet to be signed US-Mexico-Canada Agreement (USMCA).Global base metals producer Nyrst...Read More
(IDEX Online) - CIBJO's new Responsible Sourcing Blue Book highlighted a well-attended seminar at the Vicenzaoro January jewelry trade show in Vicenza, Italy, on January 19, which also featured the precious coral sector as a case study for sustainability. The seminar comprised the opening session of the 21st Symposium of the Federation for European Education in Gemmology (FEEG), which...Read More
Global base metals producer Nyrstar announced late on Tuesday January 22 that it had been subjected to a cyberattack that has compromised its email communications and other IT systems. The company's head office in Zurich was said to be the location most badly affected. "The cyberattack issue has been contained and...Read More
(IDEX Online) - The Delgatto Diamond Finance Fund will be holding a roadshow at the Antwerp Diamond Club on January 28 on Delgatto's asset-based financing programs for the diamond and jewelry industries. With bank financing to the diamond industry declining, US-based Delgatto offers immediate loans based on companies' diamond inventory. Delgatto provides diamond firms...Read More