RAPAPORT... Bonhams will offer an 18.04-carat diamond at its FineJewelry sale in New York next month, estimating the piece at $400,000 to$600,000. The emerald-cut, G-color, VS2-clarity diamond flanked bytrillion-cut diamonds will head up the auction on December 3 at the company'sMadison Avenue location, Bonhams said Thursday. "This is a beautiful example of a large, white diamondexhibiting sensat...Read More
Chrome ore and alloy prices continued to trend lower in China on Friday November 16 on thin market activities and lingering weak sentiment, while the European and US markets continued to suffer from increased seller competition amid subdued demand conditions. UG2, charge chrome prices soften on thin trading, bearish sentimentChinese domestic market holds flat amid inactivityKorean prices slide on...Read More
(IDEX Online) - De Beers sold rough diamonds with a provisional value of $440 million in the ninth sales cycle (Global Sightholder Sales and Auction Sales) of 2018. The sales figure is the lowest sales figure reported by the miner so far this year and the second consecutive sale below the $500 million mark. The miner reported confirmed sales of $482 million in the eighth cycle, compa...Read More
RAPAPORT... Alrosa has sold its 50% stake in the Sunland Mineralsexploration project in Botswana, according to its former joint-venture partner. Botswana Diamonds bought the Russian miner out for a"nominal sum" and now owns the asset outright, it said in a statement Thursday.Another large diamond producer with "new ideas" that is "keen to find newkimberlites" in the African country is close to acq...Read More
Gold has underperformed many assets in recent months and years.This is not surprising as sentiment surrounding the yellow metal has been atrocious lately.However, some fundamental elements appear supportive of higher gold prices going forward.The Fed's tightening path appears limited, and as economic growth slows further, the Fed may need to cease tightening or reverse monetary policy all toge...Read More
Turkish steel mills have continued to hold back from making deep-sea scrap purchases due to fear of product outflow from China, sources said on Tuesday November 20.Chinese rebar is widely expected by market participants to be offered in increasing amounts in the near term while its domestic market softens. This will soon affect prices all over the world, including Turkish scrap import prices,...Read More
The latest news and price moves to start the Asian day on Wednesday November 21.Base metals prices on the London Metal Exchange were mostly lower at the close of...Read More
Only one senior Nutrien Ltd. executive lives in Saskatchewan, but the potash company could still be getting heavily subsidized for maintaining head office jobs in the province.Despite being the only province with a potash industry, Saskatchewan subsidizes head-office jobs for potash companies. Deductions on potash profit taxes are offered at a rate of $25,000 per head, per year. For "new" corporat...Read More
The Comex copper price continued lower in in the US morning on Tuesday November 20, with the rising dollar pressuring the entire commodities sector.The copper price for December settlement on the Comex division of the New York Mercantile Exchange fell 3.25 cents to $2.7665 per lb."We continue to expect a strong rebound in copper prices by the end of 2018 principally because investors are likely to...Read More
The company has completed the Chinese State Administration of Foreign Exchange (SAFE) registration, a three-pronged process that took place over the past two months.Nevsun said Tuesday the SAFE registration was the last Chinese regulatory condition which, together with Investment Canada Act approval received last month, rendered both regulatory conditions met.According to Nevsun, which operates th...Read More
Copper prices will recover if the trade war between the United States and China does not escalate at next week's G20 summit, the head of China commodities strategy from Citi Group said during a panel discussion at Asia Copper Week on November 14. The impact of the US-China trade war has been priced into current copper prices, according to Citi Group's Tracy Liao who also took a cautiously optimist...Read More
DR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftMahenge the Cinderella of the graphite space?SPONSOREDblack rock miningSky is the limit for BSK at Amarillo GrandeSPONSOREDblue sky uraniumNew Energy brings experience to new dawnSPONSOREDnew energy mineralsThe PLP has finalised a right-of-way agreement with the Alaska Peninsula Corporation (APC) that secures the...Read More
Analysis from RFC Ambrian shows that there have been 325 copper M&A deals worth more than US$10 million in the past decade, with a combined value of $88.8 billion.Operating mines accounted for 92 deals worth $45.3 billion, construction projects with 31 deals worth $31.6 billion, feasibility projects accounted for 89 projects totalling $23.6 billion, and exploration projects made up 104 deals w...Read More
Vedanta unit Sterlite Copper intends to ship a portion of its copper concentrate inventories accrued before it declared force majeure in April, sources with knowledge of the situation told Fastmarkets. Sterlite has offered 15,000 tonnes of Cerro Verde copper concentrates for November or December shipment, several sources privy to the dealings said. The company's Tuticorin smelter was shut dow...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedThe London-listed, Australia-focused company received laboratory assays for the first hole from the current drilling program, which kicked off in September.The hole returned total mineralisation of 275m at 4.77 grams per tonne gold and 0.61% copper, or 5.75gpt gold equivalent across two wide zones.The upper zone returned 118m at 3....Read More
Spot copper concentrate treatment and refining charges (TC/RCs) dropped in mid-November, with traders starting to purchase units for the first quarter of 2019 at lower numbers. Fastmarkets' copper concentrate index dropped by $0.60 per tonne / 0.6 cents per lb to $86.80 / 8.68 cents on Thursday November 15. Spot market trade was limited ahead of and during Asia Copper Week in Shanghai where b...Read More
PolarX builds bigger, richer Zackly pictureSPONSOREDpolar x limitedThe global market analyst was optimistic about near-term Chile production forecasts for 2019 on the back of stronger performance from major mines, upgrades to existing mines, and a lower perceived risk of labour strikes.According to Fitch, Chile was expected to produce 2% more copper in 2018 than in 2017, at 5.4 million tonnes. To...Read More
This morning, the U.S. dollar traded slightly lower to a critical support level at 95.90 before recovering, gathering steam, and moving to much higher ground. As of 5:00 PM Eastern standard time, the dollar index is currently up almost 7/10% (+ 0.639 points) and fixed at 96.705.Dollar strength has taken away the modest gains seen as market participants bid gold prices modestly higher today. Today&...Read More
Robert Morris, Vale's sales and marketing director for the base metals business, is retiring from the company at the end of 2018, according to an internal note from the miner to its managers. Brent Rochon, who is vice president for marketing and sales of copper and intermediates, and nickel for Europe and Americas regions, will take on Morris' duties in the interim. Morris has worked for Vale sinc...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDGHot-rolled coilChina, export, hot-rolled coil, offered at $540-550 per tonne cfr, to Saudi Arabia.Ukraine, export, hot-rolled coil, traded at $520-530 per...Read More