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
RAPAPORT... Firestone Diamonds has unearthed a 70-carat white rough stone fromits Liqhobong mine in Lesotho. "The 70-carat stone was recovered in the northern, low-gradepart of the pit, where the bulk of our mining will take place in the comingmonths," Firestone CEO Paul Bosma said Tuesday. The stone - which was removed undamaged - follows the miner'sdiscovery of a 46-carat white diamond in...Read More
Hot-rolled (HR) and cold-rolled (CR) steel sheet prices in Russia's Central Federal District around Moscow rose on reduced availability and a seasonal demand rebound in the secondary market, sources told Fastmarkets on Monday February 11. Fastmarkets' weekly price assessment for Russia-origin 4mm HR sheet was at 41,200-41,600 roubles ($627-633) per tonne cpt Moscow on Monday, including 20% VA...Read More
Alrosa's (MCX:ALRS) sales dropped by 44% year-on-year in January, according to a press release issued by the Russian miner.The company said that it sold a total of $281.5 million worth of rough and polished diamonds, with rough stones leading most of the transactions and generating proceeds of $278.2 million.According to the world's top diamond producer by output, following a busy month in Decembe...Read More
RAPAPORT... Alrosa's sales fell in January amid market weakness, the miner said Tuesday. Proceeds decreased 44% year on year to $281.5 million.Rough-diamond sales dropped by the same percentage to $278.2 million, while polished revenue slid38% to $3.4 million, according to Rapaport calculations. "In January, market activity was lower than usual," said Alrosa deputy CEO Yury Okoemov. "Sales i...Read More
RAPAPORT... The World Federation of Diamond Bourses (WFDB) has agreed tohelp promote business for the Korea Diamond Exchange (KDE). The trade bodies signed a cooperation agreement inJohannesburg, South Africa, last week, with the WFDB committing to assist thebourse in lobbying the South Korean government on matters relating to thediamond trade. The trade bodies will work together to build up...Read More
Africa-focused Firestone Diamonds (LON:FDI) has unearthed an undamaged 70-carat white, makeable stone from its 75%-owned Liqhobong mine in Lesotho.The diamond is the largest found so far this year and follows the recovery of a 46-carat, gem quality white rock in December, which sold for over $1 million at a sale early this month.Shares in the company shot up on the news and were trading 8.9% h...Read More
The prices for steel billet and rebar in the United Arab Emirates increased this week on higher offers from producers, but demand was only moderate, sources told Fastmarkets on Tuesday February 12.Domestic rebarLocal rebar producers in the UAE increased their offer prices.The country's largest producer, Emirates Steel, was offering rebar to be shipped in February at 2,007 dirhams ($546) per tonne...Read More
The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet Oman, export, billet,...Read More
RAPAPORT... The lab-grown-diamond sector is enjoying a spike in awareness among US consumers and is starting to make headway in the engagement-ring market, according to a report by the International Grown Diamond Association (IGDA)."Over the last two years, the anecdotal feedback from IGDA members has been that the bridal category is where they've had most success," said Richard Garard, secre...Read More
(IDEX Online) - The Indian Diamond & Colorstone Association, an association of jewelers, diamantaires and colored stone dealers, hosted its 35th Annual Tucson Gala on February 7. IDCA President Nilesh Sheth reminded his audience that the diamond, gem and jewelry industry had faced many disruptive changes, but that that the key challenge is to adapt and work around these changes. "Our I...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transactions: rebarRebar UAE, domestic (Emirates Steel), rebar, offered at 2,007 dirhams ($546) per tonne ex-works,...Read More
(IDEX Online) - Recent research has indicated that the slowing Chinese economy has not stopped consumers from buying luxury items. However, instead of spending their money in boutiques overseas, consumers are increasingly buying their luxury goods in shopping malls at home. LVMH, which markets brands such as Louis Vuitton and Hennessy, registered higher sales in China in the fourth...Read More
(IDEX Online) - Piers Pigou, a political analyst and senior consultant at the International Crisis Group (ICG), argues that Zimbabwe still has a long way to go towards fostering transparency in its opaque diamond sector. "Good governance in the diamond sector, which includes tangible progress towards improved transparency and accountability, remains a key litmus test of the Zimbabwean gove...Read More
Aim-listed Firestone Diamond has recovered a 70 ct white, makeable diamond from its Liqhobong mine, in Lesotho.CEO Paul Bosma said on Tuesday that the 70 ct stone was recovered in the northern, low grade part of the pit where the bulk of Firestone’s mining would take place in the coming months.Advertisement“Although the market for the smaller stones has been under pressure, we’ve...Read More
Dubai-based multinational Dana Group has completed the construction of new mills for the manufacture of cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) in the United Arab Emirates sheikhdom, it said on Friday February 8.Installation and commissioning of the necessary machinery is now under way. The company did not give a date for the start of production, but it expects to produce 250,0...Read More
JOHANNESBURG (miningweekly.com) – Mining must take place with a strong focus on the interests of those who live in mining areas, says Mineral Resources Minister Gwede Mantashe, a standpoint that supports the notion that a mining right and a land right can co-exist, without pleasing one party at the expense of the other. But the Xolobeni judgment turns this around, says legal firm Bowma...Read More
(IDEX Online) - At a Global Diamond Roundtable held earlier this month during the Investing in Africa Mining Indaba, participants discussed the fall in prices of lower quality, cheaper diamonds and indicated that if this situation is to continue, the so-called diamond juniors may not survive the onslaught, unless there is a positive turnaround in the market. Firestone Diamonds CEO Paul Bosm...Read More
(IDEX Online) - A gang of thieves suspected of carrying out a diamond theft during the International Diamond Week at the Israel Diamond Exchange (IDE) at the end of January, were arrested a few hours after the theft, the IDE said in a statement. The arrests took place after the IDE's security team quickly alerted the police and supplied a picture of one of the suspects. The gang of...Read More
CIS rebar and wire rod producers pushed up offer prices this week following rises in raw materials and semi-finished steel costs last week, but customer caution limited buying activity.Ukrainian and Russian rebar, for shipment in late March and April, was on offer at $475-480 per tonne fob Black Sea on Monday February 11, sources told Fastmarkets - up from $455-470 per ton...Read More
(IDEX Online) - India is seeking the extradition of Indian diamantaire and jeweler Mehul Choksi from Antigua. Choksi is a main defendant in one of India's largest bank fraud cases who fled India before the accusations surfaced last year and since acquired an Antigua and Barbuda passport. Choksi, however, an Indian official told Reuters, is still an Indian citizen and therefore the...Read More