Global miner Eurasian Resources will place its Boss Mining copper-cobalt unit in Democratic Republic of Congo on care and maintenance at the end of February 2019, the company has told Fastmarkets."Boss Mining will be placed into care and maintenance from the end of February," the company said in a statement published on Tuesday February 19."We can confirm that technical and exploration work has st...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Tuesday February 19, with a new round of trade talks between the United States and China improving market sentiment amid a slight softening of the US dollar index.Volumes traded over the day were moderate, with copper's 19,500 lots leading the complex.The metal's three-month price continued to trade on an...Read More
The copper market surged in morning trading on Tuesday February 19 in the United States amid rising optimism for a trade resolution between the world's two largest economies - the US and China.The copper price for March settlement on the Comex division of the New York Mercantile Exchange jumped by 6.5 cents per lb to $2.8635 per lb.Positive news about US-Chinese trade sentiment continued to suppor...Read More
The London Metal Exchange has released the fees for its new cash-settled futures contracts which will be launched on March 11, three of which are settled against Fastmarkets MB benchmarks.The cash-settlement fee for the aluminium premiums contracts will be $0.35 per leg, per side of the trade, per lot, the LME said on Tuesday February 19. The aluminium premiums suite includes a duty-unpaid Eu...Read More
RAPAPORT... Swiss watch exports were flat in January at CHF 1.62 billion ($1.62 billion), as a drop in orders from Chinaoutweighed solid growth in other major export markets. "The main markets reported growth, except for China, whichexperienced one of the most unfavorable base effects of the last four years," the Federation of the Swiss Watch Industry reported Tuesday. Exports to China...Read More
RAPAPORT... The average amount US couples spent on engagement rings dropped 2% in 2018, according to a survey The Knot released lastweek. While 28% of the 14,000 respondents spent more than $6,000on their ring, the national average was approximately $5,680, down from $5,764in 2017, the data showed. In 2018, "high-spenders" - those whose nuptials cost more than$60,000 - spent an average of $13...Read More
RAPAPORT... Lucapa Diamond Company has recovered a 128-carat whitediamond from its Lulo alluvial mine in Angola, the company said Tuesday. The type IIa stone, which it found at the deposit's Mining Block6 region, is the miner's 12th over 100 carats to date. Lucapa also recently unearthed a 7.5-carat, fancy-purple-pink diamond in the same portion of themine, it said. The company will likely s...Read More
Brazilian distributors' flat-rolled steel sales volumes fell by 19.5% year on year to 228,600 tonnes in January due to high inventories held by clients, figures from local flat steel association Inda show.Domestic flat steel sales had totaled 283,800 tonnes in January 2018, Inda said on Tuesday February 19.Flat steel producers made an effort to increase sales in December, leaving buyers stocked, I...Read More
Flat steel prices in the Brazilian domestic market were expected to be unchanged throughout the first quarter of 2019, according to local flat steel distributors' association Inda."I don't see room for a price increase to occur before April," Inda president Carlos Loureiro told journalists on Tuesday February 19.On the other hand, he believed that rumors of price discounts which circulated in rece...Read More
Lucara Diamond Corp. recently recovered a 223-carat, high white gem diamond, from its Karowe Diamond Mine in Botswana.This stone will be shown alongside the 240 carat and 127 carat, top white gem diamonds reported earlier this year together with other exceptional single diamonds recently recovered from Karowe, at Lucara's upcoming diamond tender closing on March 7, 2019. Eira Thomas CE...Read More
Lucapa Diamond Company, Empresa Nacional de Diamantes E.P. (Endiama) and Rosas & Petalas announced the recovery of a 128-carat diamond from the Lulo alluvial mine in Angola. The stone is the 12th +100- carat diamond recovered to date from Lulo, offering proof once again of the nature of the prolific Lulo diamond field. The diamond was recovered along with a 7.5 carat fancy purple pink gem. The...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company has recovered a 128 ct diamond from its Lulo alluvial mine, in Angola.The diamond is the twelfth stone over 100 ct to be recovered to date from the Lulo operation, which continued to underline the large-stone nature of the Lulo diamond field, said Lucapa.AdvertisementThe diamond was recovered from Mining Block 6, along with a 7....Read More
Petra Diamonds has appointed Richard Duffy as CEO. He is to commence his task on April 1, 2019. The veteran, outgoing CEO Johan Dippenaar will be working closely with Duffy to ensure an efficient handover. According to a news release issued by Petra, Duffy who worked for almost three decades for Anglo American and AngloGold Ashanti Ltd., has extensive experience in both open pit and undergr...Read More
MHKA, the Museum of Contemporary Art Antwerp, is staging an exhibition called "Melancholia: The Diamond," in collaboration with Lars von Trier, Marianne Slot and Leonid Ogarev. The exhibition is inspired by van Trier's film "Melancholia" (2011) and also harks back to van Trier's days in film school when he made very first documentary about diamonds. The fascination with diamond has r...Read More
Aim- and BSE-listed exploration company Botswana Diamonds has started with the planned intensification drilling on its Thorny River prospect in South Africa, with the first four holes having intersected diamonds at predicted thicknesses and depths. The programme, which comprises the drilling of 40 reverse circulation angle percussion boreholes to a depth of 30 m is expected to be completed wi...Read More
Rebar suppliers to Russia's Central federal district, the major steel-consuming region in the country, have increased their offer prices on expectations of a seasonal rebound in secondary market demand in March.Fastmarkets' weekly price assessment for domestic 12mm A500C rebar in Russia, including 20% VAT, was 36,000-38,500 roubles ($543-581) per tonne cpt Moscow on Monday February 18, up from 33,...Read More
The price trend in the CIS export billet market reversed at the beginning of this week, going downward with buying activity in the major outlets turning sluggish, Fastmarkets heard on Tuesday February 19.This was partially due to the massive volumes of bookings done in recent weeks. Another reason, howover, was the weakening of the import scrap market in Turkey as well as lower billet prices in Ch...Read More
The price for steel rebar imported into the United Arab Emirates decreased this week in the latest deals, despite demand being stronger than in previous weeks, sources told Fastmarkets on Tuesday February 19.The reason for the fall in the rebar import price was that producers in Oman, currently the main exporter of rebar to the UAE, could not raise their prices for rebar as much as they had for bi...Read More
BHP, the world's largest mining company, has urged peers to create an independent international body in charge of overseeing the construction, integrity and operations of tailings dams, which storage mining waste, following the second collapse of a dam in Brazil in the past three years."As an industry, we now have to redouble our efforts to make sure events like this simply cannot happen," Chief E...Read More
K+S Potash Canada has again been named one of the provinces top employees. This is the sixth time and the second year in a row.President and general manager, operations Sam Farris said, "We've experienced a lot of changes moving from a project into operations, but the one constant has been our strong team. We've learned a lot together."The Bethune potash mine owned by K+S has been operating sin...Read More