Popular News

Alrosa continues to see weak diamond demand

May 14, 2019 / www.idexonline.com

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 to launch new round of inspections from May 14

May 15, 2019 / www.metalbulletin.com

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

Stornoway targets up to C$20m in cost reductions to preserve liquidity

May 14, 2019 / www.miningweekly.com

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

Worley creating a force for the future of resources and energy

May 07, 2019 / www.miningweekly.com

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

IN CASE YOU MISSED IT: 5 key stories from May 14

May 15, 2019 / www.metalbulletin.com

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

Strong prices boost 2018 earnings by 23%, Ezz Steel says

May 15, 2019 / www.metalbulletin.com

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

ThyssenKrupp remains open to EU steel consolidation after Tata jv disappointment

May 15, 2019 / www.metalbulletin.com

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 says Jansen potash mine 'remains attractive option'

May 14, 2019 / www.mining.com

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

GULF STEEL BILLET, REBAR: Import billet price tips up but demand still soft

May 15, 2019 / www.metalbulletin.com

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

British Steel still in talks for government support amid Brexit difficulties

May 15, 2019 / www.metalbulletin.com

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

Peru and Mexico metals producer wants to put horrible Q1 behind it

May 14, 2019 / www.mining-journal.com

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

OZ lifts Cloncurry exposure

May 14, 2019 / www.mining-journal.com

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