Pearls, coral and innovative new materials and approaches to metals will be the top global jewelry design trends on show at the 64th edition of the Bangkok Gems and Jewelry Fair, which runs from September 10-14, 2019. Since the Sotheby's sale of a pearl and diamond pendant - once owned by France's Queen Marie-Antoinette - for a world record price paid - $36 million! - for a pearl in...Read More
London-listed Petra Diamonds has sold the 424.89 ct Legacy of the Cullinan Diamond Mine diamond to Stargems Group/Choron for just under $15-million.The exceptional D-colour Type IIa diamond was mined from the Cullinan C-Cut and adds to the most famous diamonds to have originated from the historic mine.Advertisement"This is a significant sale for Petra and an endorsement of the quality not onl...Read More
A surge in investment buying and higher automotive consumption will underpin a nine percent gain in gross platinum demand in 2019, offsetting weakness in the Chinese platinum jewelry market, where platinum faces increased competition from [high-]karat gold jewelry, the latest Johnson Matthey PGM Market Report says.Automotive demand for platinum will rise by three percent this year, due to greater...Read More
RAPAPORT... Lucara Diamond Corp.'s revenue nearly doubled in the firstquarter, as it introduced a new tender process which enables it to sell its higher-value stones faster. Revenue rose 92% to $48.7 million, as sales volume increased50% to 95,057 carats. The average selling price climbed 28% to $512 per caratfor the three months ending March 31. During the quarter, the company's new c...Read More
Alrosa's sales of rough and polished diamonds reached $318.7 million in April. Rough diamond sales amounted to $315.8 million, while those for polished diamonds stood at $2.9 million. In the months January-April 2019, total sales came to $1,322.9 million (rough - $1,303 million; polished - $19.2 million). Evgeny Agureev, Director of Alrosa's United Sales Organization, went out of his way...Read More
China's environmental watchdog will begin a new round of inspections across the country from Tuesday May 14, according to market sources, citing an unofficial announcement from China's Ministry of Ecology and Environment last week.From May 14, central inspection teams will be stationed across 25 regions in China to conduct investigations that will last no more than 10 days. Targeted areas include...Read More
Canadian miner Stornoway Diamond Corporation has initiated a series of actions to preserve its liquidity, including targeted cost reductions of C$18-million to C$20-million this year.The miner, which operates the Renard mine in Quebec, said on Monday that the continued downward pressure on the rough diamond market was inhibiting its ability to generate positive free cash flow.AdvertisementIn addit...Read More
JOHANNESBURG (miningweekly.com) – Following the announcement in October 2018 of WorleyParsons' binding offer for Jacobs' Energy, Chemicals and Resources, the combined new entity has come together under a new brand – Worley – involving 57 600 people across 51 countries.While financially a $3.2-billion acquisition, operationally the transaction is a combination of two compl...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday May 14 that are worth another look.German steelmaker ThyssenKrupp remains open to consolidation in the European steel sector, chief executive officer Guido Kerkhoff said in a conference call with analysts on Tuesday May 14.Increased hydroxide supply over the past year has meant diverging fundamentals between cobalt int...Read More
Egypt's use of selective anti-dumping duties helped the country's biggest steelmaker, Ezz Steel, to report a 23% increase in earnings in 2018, the company said last week.Ezz Steel enjoyed strong demand for long and flat steel products in both the domestic and export markets, it said. This enabled it to show consolidated earnings before interest, taxes, depreciation and amortization (Ebitda) of E ?...Read More
German steelmaker ThyssenKrupp remains open to consolidation in the European steel sector, chief executive officer Guido Kerkhoff said in a conference call with analysts on Tuesday May 14.The statement came after news of the expected failure of its European flat steel joint venture with Tata Steel Europe because of opposition from the European Commission (EC)."If there are opportunities for consol...Read More
BHP on Tuesday admitted to institutional investors it "overinvested" in its Jansen potash project in Saskatchewan where the Anglo-Australian giant has already spent $2.7B over nearly six years.At a BofA Merrill Lynch mining and metals conference held in Barcelona, CEO Andrew Mackenzie said the company's "thinking around the project's initial scope has evolved":"However, Jansen remains an attracti...Read More
Domestic and import prices for rebar have remained stable in the United Arab Emirates over the past week, but the import price for steel billet has increased by $3 per tonne, sources told Fastmarkets on Tuesday May 14.Domestic rebarLocal rebar producers in the UAE kept their prices unchanged for May production material, with demand subdued by the start of the Islamic holy month of Ramadan this wee...Read More
Long steel producer British Steel is in discussions with the UK government about "a package of additional support to assist the company to address broader Brexit-related issues, while continuing with its investment plans," a company spokeswoman told Fastmarkets on Tuesday May 14."As we have previously commented, the uncertainties around Brexit are posing challenges for all businesses including Bri...Read More
Altech ticks boxes on path to production SPONSOREDaltech chemicalsSierra said EBITDA of US$12 million in Q1 2019 compared with $27.4 million in 2018, and operating cash flow shrunk from $27.4 million in the first three months of 2018 to $11.8 million. Revenue from copper, zinc, lead, gold and silver output was down from $61.7 million to $49.2 million year-on-year as lower metal prices compounded p...Read More
Altech ticks boxes on path to production SPONSOREDaltech chemicalsOZ recently reached a 70% stake in the Eloise joint venture ground by spending A$10 million and has now agreed to loan-carry minority partner Minotaur to commercial production for an additional 10% ofRead More
Lack...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.Subsc...Read More
Global markets strained by the US-China...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More
Aluminium The pullback in the LME aluminium price...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the...Read More
US-China trade tensions re-emerge Last week...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest iss...Read More