Turkish steel producers continued their deep-sea scrap purchases for May deliveries, and the prices of the latest cargoes confirmed the upward market direction, sources said on Wednesday April 17.A steel producer in Northern Turkey booked a European cargo, comprising 35,000 tonnes of HMS 1&2 (75:25) and 5,000 tonnes of bonus at an average price of $307 per tonne cfr.The prices of each grade were c...Read More
Botswana-based Okavango Diamond Company (ODC) on Wednesday unveiled “the biggest blue diamond discovery ever made” in Botswana – an oval-shaped blue diamond weighing in at over 20 ct.The Gemological Institute of America has graded the stone as an oval brilliant cut of 20.46 ct, with a fancy deep blue colour and at VVS2 clarity.AdvertisementThe diamond was discovered at Botswana&r...Read More
JOHANNESBURG (miningweekly.com) – Sydney- and Johannesburg-listed exploration and mining development company Orion Minerals has found a formula to achieve empowerment that puts all shareholders at full participation and contribution.“What we’ve arrived at is a fantastic win-win scenario,” an overjoyed Orion CEO Errol Smart told Mining Weekly Online. (Also watch attached Cr...Read More
Iron ore prices continued to retreat on Wednesday April 17 following news that Vale was permitted to resume operations at its Brucutu mine in Brazil, with capacity for 30 million tonnes per year.MB 62% Fe Iron Ore Index: $93.23 per tonne cfr Qingdao, down by $1.55 per tonne.MB 62% Fe Pilbara Blend Fines Index: $92.01 per tonne cfr Qingdao, down by $1.55 per tonne.MB 62% Fe Iron Ore Index-Low Alumi...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: Iron oreRio Tinto, bilateral sale,...Read More
Chinese interest continued to drive up the seaborne coking coal market on Wednesday April 17, with sellers issuing higher offers in response to recent transactions being concluded above prevailing levels.A cargo of lower-ranked premium hard coking coal, scheduled for loading in April 20-30, was sold at $199 per tonne cfr China during the day to a steelmaker in southern China, sources told Fastmark...Read More
BHP has lowered its iron ore production guidance and raised costs expectations for the 2019 financial year amid disruption to operations caused by a cyclone that hit the west coast of Australia last month.The miner expects its iron ore operations to produce 265-270 million tonnes (at 100% basis) in the 2019 financial year, down 4.6% from its earlier estimate of around 273-283 million tonnes. The l...Read More
Eastern promise for PolarXSPONSOREDpolarxHudbay said the private equity firm's move was a ploy to stop it from soliciting proxies as a proxy contest between the two parties heats up.Waterton, Hudbay's second largest shareholder at 12.1%, last year gradually stepped up its dissent, urging the miner to replace its chief executive and nominating its own slate of five directors to the board.Eastern pr...Read More
Precious metals prices would support zinc and lead mining even if the global markets crashed, including those for base metals, panelists said at Fastmarkets' International Lead & Zinc Conference in London on Tuesday April 16. David Stein, who manages the Aerecura Capital fund and invests directly in mines, said base metal prices including zinc and lead could fall in a wider rout of the markets. Du...Read More
The following Fastmarkets minor metals prices changed on Wednesday April 17:Antimony MMTA standard grade II, $/tonne: $7,000-7,300 per tonne from $6,900-7,200Bismuth MB free market, $/lb: $3.40-3.80 per lb from $3.30-3.80Cobalt MB free...Read More
A summary of BHP's production results for its financial third quarter ended March 31, 2019.In brief BHP owns a 57.5% stake in the Escondida copper asset, 33.8% in Antamina, and 100% of Pampa Norte and Olympic Dam. The company's wholly-owned Spence Growth Option project in Chile, a new 95,000 tonne-per-day concentrator, is expected to increase its copper in concentrates production by approxima...Read More
Fastmarkets' battery raw materials team summarizes eight key takeaways from last week's Battery Materials Conference in Shanghai. Cobalt's upside is limited without China on board: While market participants at last week's MMTA conference in Edinburgh were enjoying cobalt having found its floor and the resultant round of restocking, delegates in Shanghai were more concerned about whether Chine...Read More
Ferro-silicon prices in the Chinese domestic market held steady last week despite elevated April tender prices from steel mills, while export offers in the country sank due to an influx of imported material into Asian markets. Meanwhile, US ferro-silicon prices softened slightly amid low levels of spot activity. Chinese domestic ferro-silicon prices stable despite higher April mill tender prices C...Read More
U.S. equity index futures were higher this morning. S&P 500 futures added 7 points in pre-opening trade. Futures responded to encouraging first quarter economic news released by China in overnight trade.Index futures were virtually unchanged following release of the February U.S. Trade Deficit report at 8:30 AM EDT. Consensus was $53.7 billion versus $51.1 billion in January. Actual was $49.4...Read More
Here's one of my favorite Washington paradoxes...On one hand, politicians say they want to help Americans save more for retirement.On the other, they look for every possible way to punish people who actually succeed in the endeavor. For proof of this look no further than a new bill that recently passed through the House Ways and Means Committee with unanimous support. It's called the SECURE Act an...Read More
The price range for rebar produced and delivered in Northern Europe has remained unchanged week-on-week ahead of the Easter holidays, sources told Fastmarkets on Wednesday April 17.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe was ?,?535-550 ($604-621) per tonne delivered on Wednesday, unchanged from April 10. "We expect the price to remain stable over the we...Read More
QUESTION: Mr. Armstrong; I believe you said at the WEC in 2017 that central banks will diversify and increase their gold reserves going into the currency crisis coming in 2021. China has continued to increase its gold reserves. You would please update on that development.Thank youPKANSWER: Central banks are in a very difficult position. The ECB has really put the entire world at risk. Draghi is no...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday April 17:Titanium scrapTurnings, unprocessed type 90/6/4, 0.5% Sn max: $1.15-1.20 per...Read More
Adrianne Kroepsch, assistant professor of humanities, arts and social sciences at Colorado School of Mines, is the co-winner of the 2019 Professional Geographer Award from the Energy and Environment Specialty Group of the Association of American Geographers.The award is given once a year to recognize the author or authors of a paper published in a peer-reviewed journal based on its originality, si...Read More
Millennial Lithium (TSXV: ML; US-OTC: MLNLF) has doubled the measured and indicated resource at its Pastos Grandes lithium project in Salta, Argentina.The project now contains 18 billion measured and indicated cubic metres brine grading 427 milligrams per litre lithium and 4,440 milligrams per litre potassium for 4.12 million tonnes lithium carbonate-equivalent and 15.3 million tonnes potassium ch...Read More