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
(IDEX Online) - ALROSA will receive the Diamonds Do Good Community Stewardship Award while the Luxury Jewelers Resource Group will receive the Diamonds Do Good Community Building Award, the Diamond Empowerment Fund has announced. The awards will be presented at the Venetian Hotel in Las Vegas on May 30. ALROSA: Diamonds Do Good Community Stewardship Award The world's leading diamond mining...Read More
Roland Harings will take up the role of chief executive officer of German copper giant Aurubis in July 2019, the company said on Wednesday January 30.Harings will succeed current CEO J? 1/4 rgen Schachler in overseeing the business of Europe's largest copper producer.Since 2014, Harings has been CEO of Mansfelder Kupfer & Messing (MKM), a major European producer of semi-finished products of copper...Read More
The European tin premium dropped by $35 on the midpoint in the week ended Tuesday January 29 following a 1,000 tonne delivery to London Metal Exchange sheds, while other regional premiums were unchanged week on week in quiet markets. Premium for standard grade tin ingot, in-warehouse Rotterdam, falls 7.4% Adequate supply keeps US premiums unchanged Shanghai premium flat in quiet, pre-...Read More
Tim Li, vice president of Daye Nonferrous, will leave his position at the major Chinese copper smelter, Fastmarkets has learned. Li currently oversees the procurement of copper concentrates and blister copper for Daye, which has capacity of 700,000 tonnes per year of copper cathode. He will leave his...Read More
A summary of Nornickel's production results for the year ended December 31, 2018IN BRIEF: 2018 nickel and consolidated copper output exceeded production guidance forecast for the year amid productivity improvements.Completion of a downstream reconfiguration program, which...Read More
Zinc premiums in most regions were unchanged week-on-week amid sluggish demand, but a recovery was seen in the Italian market as low stocks buoyed prices ahead of the arrival of new shipments. Meanwhile, Indian lead premiums dipped on the futures price uptick on the London Metal Exchange (LME). Italian zinc premiums gain, underpinned by low stocks. Might be short-lived as new supply is on the wayZ...Read More
A United Nations report published Wednesday says Danakali's (ASX, LON:DNK) Colluli potash project has the potential to boost the economy of Eritrea, a country that until two months ago was on the UN's sanctions list.The independent study, commissioned and funded by the UN Development Program (UNDP), assesses a wide range of econometric data and includes findings from talks with Eritrean government...Read More
The price for rebar produced and delivered in Southern Europe remained stable on Wednesday January 30, with no new deals reported while market participants waited for a final proposal from the European Commission (EC) on its 2019 safeguarding import quotas.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?510-520 ($583-594) per tonne delivered on Wednesday, bu...Read More
Domestic prices for steel beams in Europe were unchanged on Wednesday January 30, with market conditions remaining stable this week, sources have told Fastmarkets.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-640 ($709-732) per tonne delivered on January 30, flat week on week."It seems that the reduction in scrap prices has...Read More
The price for rebar produced and delivered in Northern Europe remained flat on Wednesday January 30 on very little new business, as pressure builds ahead of the European Commission's final proposal for its 2019 import quotas, expected next week.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe stayed at ?,?530-550 ($606-629) per tonne delivered on Wednesday. The market has...Read More
Three-month base metals prices on the London Metal Exchange were for the most part still consolidating the gains seen at the end of last week, following weakness on Monday January 28, an up day on Tuesday, and now awaiting further direction. Three-month LME prices were up by an average of 0.2% on Wednesday morning, with the majority up between 0.1% and 0.3%, but with nickel up by 0.9% and aluminiu...Read More
Ukrainian steelmakers, excluding those in the eastern provinces that were seized by rebels in 2017, managed to increase their output of pig iron and steel in 2018, supported by favorable conditions in the global steel market, and higher prices in particular.Production of pig iron in Ukraine increased by 5% year-on-year in 2018 to 20.56 million tonnes, the country's steel union, Ukrmetallurgprom, s...Read More
The Gulf Co-operation Council nations (GCC) increased the import duty on rebar to 10% from the previous 5% iwithn effect from January 1, 2019, the Arab Iron & Steel Union (AISU) announced on Wednesday, January 30.The United Arab Emirates had earlier increased its own import duty on rebar to 10%, from the previous 5%, Dubai Customs announced on January 16.The AISU noted that the duty increase appli...Read More
All holes encountered significant mineralisation with the most notable results being along the northern margin of drilling completed to date. Highlights included 236.35m grading 0.53% copper, 0.63g/t gold and 12.09g/t silver from 87.55m depth. This hole intercepted high-sulphidation epithermal and skarn with overprint of carbonate base metal intermediate sulphidation veining."The AntaKori project...Read More
The company said the future viability of the mine required an adjustment to "how we are organised, how we work and the technology that we use to improve our efficiency and productivity". Los Bronces has about 6,970 workers including contractors.The news comes as the company prepares to file an environmental impact assessment in March for an underground expansion project that will require an invest...Read More
"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftGolden Mile positioned for successSPONSOREDgolden mile resourcesCardinal advances at pace in Ghana SPONSOREDcardinal resourcesRevised Leonora PFS is next for KinSPONSOREDkin miningIt said it had intersected "a continuous potassic alteration facies as host to numerous granite dykes with coppe...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade.Index futures were virtually unchanged following release of the ADP report at 8:15 AM EDT Consensus for January ADP Employment was a drop to 175,000 from 271,000 in November. Actual was 213,000.Apple gained $8.17 to $162.85 after offering guidance on new products.Advanced Micro Devices add...Read More
Brazilian miner Vale is expected to compensate for most of the loss in output caused by the decommissioning of tailings dams by ramping-up other operations, analysts told Fastmarkets on Wednesday January 30.The company announced a potential 10% cut in its production guidance while decommissioning goes on. Vale intends to produce 400 million tonnes per year of iron ore from 2019 onward, but ending...Read More
Turkish deep-sea scrap import prices went up on Wednesday January 30 following another burst of fresh bookings completed at higher prices, sources told Fastmarkets.There were two cargoes booked from the United States.A steel mill in the Iskenderun region booked a US cargo comprising 30,000 tonnes of HMS 1&2 (80:20) at $310 per tonne cfr for February shipment.A second US cargo was booked by a mill...Read More
Seaborne iron ore prices surged above $80 per tonne on Wednesday January 30 amid market bullishness after Vale announced production cuts of 40 million tonnes per year due to the decommissioning of all its upstream tailings dams in Brazil.MB 62% Fe Iron Ore Index: $82.53 per tonne cfr Qingdao, up $3.84 per tonne. MB 62% Fe Pilbara Blend Fines Index: $83.37 per tonne cfr Qingdao, up $3.84 per tonne....Read More