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
The government of Lesotho has renewed the mining lease for LSE-listed Gem Diamonds' Lets?OEeng mine for ten years.This followed a statutory negotiation process between Gem and the Lesotho Mining Board.Advertisement"Gem Diamonds is proud of our long-standing partnership with the government and the people of Lesotho. The mining lease renewal will allow the Lets?OEeng mine to conti...Read More
The latest attempt by steel mills in Brazil to impose an increase in the domestic price of rebar has managed to stop a previous freefall seen in late September, although the rise that was implemented was smaller than was intended, Fastmarkets heard on Friday October 4.Fastmarkets' latest price assessment for steel reinforcing bar (rebar), domestic, monthly, delivered Brazil, was 2,165-2,300 Reais...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and pre-painted galvanized iron (PPGI) fell in the week to Friday October 4, with demand remaining weak, sources have told Fastmarkets.Prices for hot-rolled coil, the base product for coated coil, have been coming down recently, and coated coil prices were expected to follow soon.Domestic pricesDemand in the country's local market was poor over t...Read More
Lawyers and activists have warned about the rising modern global slave trade, saying that millions of modern slavery victims are exploited in global supply chains.They are enslaved across the spectrum, from farming, domestic work and construction to clothing factories, mines, the beauty industry and the cleaning industry, says Australia-based legal expert Frazer Hunt. AdvertisementHe told th...Read More
Domestic rebar prices in Poland have decreased over the past week because of the expected fall in scrap prices this month, sources told Fastmarkets on Friday October 4.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 1,960-2,000 zloty ($495-505) per tonne on October 4, down by 80-100 zloty per tonne over the week from 2,060-2,080 zloty per tonne.The...Read More
Turkish prices for hot-rolled and cold-rolled coil (HRC, CRC) have continued to fall over the past week on low demand, sources told Fastmarkets on Friday October 4.Demand was unlikely to improve in the coming weeks because of the current weak prices for steel and raw materials, Fastmarkets heard.HRC exportsFastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey, was $420-4...Read More
An uptick in Turkish scrap import prices, coupled with a week-long holiday in China to mark the country's 70th anniversary, provided support for steel billet prices in Southeast Asia over the past week, sources told Fastmarkets on Friday October 4.Market participants were cautiously optimistic that billet prices had bottomed out."Ferrous scrap prices [in Turkey] moved up slightly this week and we...Read More
RANDJESFONTEIN (miningweekly.com) – The Environment Ministry is the most important ministry in the government, former mining luminary Nicky Oppenheimer said at this week’s tenth Oppenheimer Research Conference.“Environment is at the forefront of everybody’s mind, and we in South Africa are unbelievably blessed with the environment in which we find ourselves. The beaches, th...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Wet-processing equipment companyCDE South Africa is targeting iron-ore and gold mining operations with low-grade ore and tailings dumps, as it believes this is where potential for growth lies in South Africa. “In the iron-ore space, we have had a lot of success in beneficiating low-grade waste stores. We are introducing the benefits of wet processing to the mining sector in South Africa as t...Read More
The team has overseen soil sampling and trenching in Cameroon since Livesey took over as CEO in March 2018 when the group was still called Stratex International, once actively exploring Turkey and East Africa.Livesey has taken the company back to its roots, concentrating on early stage work in mining-friendly jurisdictions that have prospective geology, and operating alongside well-connected joint...Read More
Polymetal building with good momentumSPONSOREDpolymetal international"We're an active explorer in a very prospective part of WA and we're concentrating on our gold assets, where we think there is good potential for the discovery of a new resource," managing director Lachlan Reynolds told RESOURCEStocks.The focus on gold is a return to the company's namesake inspiration, the prolific Golden Mile at...Read More
Pig iron export prices from the south of Brazil have stabilized as suppliers turn away from the weaker United States market to refocus on China.Fastmarkets' weekly price assessment for pig iron, export, fob Vitorio/Rio, Brazil, was $275-280 per tonne on Friday October 4, stable week on week. "We are not offering to the US now, because [the] market level is falling there," one supplier said. "...Read More
Prices in the UK and mainland Europe alloy steel scrap markets were unchanged this week because of an almost complete lack of buying interest, sources told Fastmarkets on Friday October 4. Demand from European stainless steel mills is extremely low, traders said, because of weak demand globally for stainless steel that has led mills to reduce their production rates. With mills producing less stain...Read More
The inter-merchant spot market for UK-origin light iron scrap was steady in the week ended Friday October 4, stabilizing the losses made over the past two weeks, with suppliers keeping their offer prices firm ahead of agreeing domestic monthly settlements to consumers.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?60-80 ($74-99) per...Read More
Prices of ferrous scrap imported into India fell at a slower rate this week amid signs that the market has started to stabilize after several weeks of decreases, sources told Fastmarkets on Friday October 4.Fastmarkets' weekly index for steel scrap, shredded import, cfr Nhava Sheva was $251.34 per tonne on Friday, down by just $0.47 from $251.81 per tonne one week ago.This compared with week-...Read More
No significant trading activity was reported in the key export outlets for pig iron from the Commonwealth of Independent States during the week ended Thursday October 3, with buyers pessimistic about falling scrap prices in the United States.The US is the largest global importer of pig iron.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, decl...Read More
Seaborne iron ore prices remained flat on Friday October 4 in a quiet session, with most Chinese market participants still on a week-long break.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.38 per tonne, unchanged.62% Fe Pilbara Blend fines, cfr Qingdao: $92.91 per tonne, unchanged.62% Fe low-alumina fines, cfr Qingdao: $91.72 per tonne, unchanged.58% Fe fines high-prem...Read More
Trading activity in the seaborne coking coal market remained muted on Friday October 4, the fourth day of China's Golden Week to mark its 70th National Day.Premium hard coking coal, fob DBCT: $146.08 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $159.70 per tonne, unchanged Hard coking coal, fob DBCT: $123.13 per tonne, unchangedHard coking coal, cfr...Read More
It has been a hectic couple of years for LME chief executive officer Matthew Chamberlain, his teams and members while the exchange works through the comprehensive list of plans and actions in its Strategic Pathway.Regardless of the actual volume of activity under way in an organization, there is a tendency for most chiefs to convey a sense of constant, restless dynamism focused on an endless desir...Read More