RAPAPORT... Lucapa Diamond Company garnered $4.2 million at its Novembertender as the miner continued to hold back higher-value goods for sale later inthe year. The company sold 3,411 carats of alluvial rough from itsLulo mine in Angola, fetching an average price of $1,220 per carat. The sale excluded a parcel of seven large, top-qualitystones from Lulo, including four type IIa white diamond...Read More
RAPAPORT... Mountain Province's average selling price rose at itsNovember tender amid strong demand for higher-value goods and a slightimprovement in the market for smaller rough. The miner garnered $72 per carat from the sale of 245,751carats of rough diamonds from its Gahcho Ku?(C) mine in Canada, bringing in atotal of $17.7 million, it said last week. That compares with $66 per carat inOct...Read More
(IDEX Online) - Greenland Ruby, Greenland's only miner of ruby and pink sapphire, has announced that Hartmann's Jewellery, a Danish luxury brand, is introducing a collection of jewels using Greenlandic rubies and pink sapphires. The Hartmann collection features more than 50 pieces of Greenlandic ruby and pink sapphire jewelry using a total of approximately 300 carats of rubies and pink sap...Read More
Export prices for flat steel products from the Commonwealth of Independent States (CIS) moved lower in the week ended Monday November 19 because demand remained weak and the downtrend in China put pressure on the market."There was a possibility that the fall in prices would stop after the accident at Temirtau [ArcelorMittal's asset in Kazakhstan]," one trader from Russia told Fastmarkets. "But the...Read More
Mining companies’ social and labour plans (SLPs) should incorporate initiatives or programmes aimed at reskilling workers and uplifting community members through the development of portable skills, says socioeconomic development facilitator Economic Development Solutions (EDS) MD Janine Espin.EDS projects executive director Waldo Adams notes that, while mining is a corner- stone for the Sout...Read More
(IDEX Online) - Botswana Diamonds has acquired the 50% share previously held by Alrosa in their Sunland joint venture and now holds 100% of the equity in Sunland Minerals. The company's 100% ownership allows for a new investor to enter as a new joint venture partner, the miner said, adding that advanced negotiations are underway with potential partner. Work could begin in the f...Read More
Turkish steel producers continued to hold back from the deep-sea scrap market on Monday November 19, because they expect more supplies from China to hit the market in the next few weeks.This is especially so for Chinese rebar, which is widely expected by market participants to be offered in increasing amounts in the near term while its domestic market softens."The price in China is falling....Read More
The latest news and price moves to start the Asian day on Tuesday November 20.Nickel futures on the London Metal Exchange continue to trade at their lowest level since December 2017 while supply disruptions from Indonesia are helping boost tin prices back toward $20,000 per tonne. Read more here in our live futures report.Here is how prices looked at the close of trading:Unwavering demand for...Read More
Vale must continue the stoppage at its Brazilian ferro-nickel operation, On??a Puma, and pay more than 100 million Reais ($27 million) in compensation to nearby indigenous communities, a Brazilian court ruled last week.The company will appeal against the decision in higher courts, Vale said. But the ruling, handed down on November 13, did not change the circumstances on the ground, because mining...Read More
Comex copper prices eased lower in morning trading on Monday November 19 in the United States amid early warning signs of a continuing impasse between that country and China ahead of the meeting of the G20 developed nations later this month.The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped by 0.35 cents per lb to $2.7950 per lb.Despite the po...Read More
London-listed NQ Minerals plc has signed an additional marketing and offtake agreement with Traxys Europe SA, adding to an arrangement signed with the commodities firm in August. The mining company, which shipped its first lead, gold and silver concentrates from its Hellyer operation to Traxys Europe earlier this month, has now agreed to sell all the precious metal and pyrite concentrate to be pro...Read More
Antofagasta will target record copper output in 2019 while expecting the market to head into a small deficit next year, boosting copper prices, its chief executive officer Ivan Arriagada said in an interview with Fastmarkets.The London-listed Chilean copper miner has issued guidance to produce 750,000-790,000 tonnes of copper in 2019, up 8% from this year's expected 705,000-720,000 tonnes."It will...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 mineralsHowever the miner is facing an export duty of US$4.3 million and $129.8 million in penalties proposed by th...Read More
The latest metal markets news and price moves to start the North American day on Monday November 19. Base metals prices on the London Metal Exchange were mostly higher during morning trading despite hawkish rhetoric on the US-China trade relations while a softer dollar index continues to support investment. Here's how base metals prices looked at 11:33am London time:Read our live futures report he...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Monday November 19 * Copper -$188.77 (-1,313.54 yuan) Aluminium -$425.33 (-2,959.55 yuan) Zinc -$144.92 (-1008.41 yuan) Nickel $752.76 (5,237.96 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Look beyond market approach to project valuations: van ZylLeadershipDR 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 uraniumDr Leon Pretorius' TopTung is banking on the Lac Kelly, Midrim and LaForce projects it will acquire from Me...Read More
Plate prices in the United States have held their ground over the past week, with industry participants still wondering whether the market has peaked or could see further upside in 2019.Fastmarkets AMM's price assessment for cut-to-length plate was unchanged at $49.50 per hundredweight ($990 per short ton) on Friday November 16.Lead times average six to nine weeks, according to market participants...Read More
Hot-rolled coil prices fell $1 per hundredweight - 2.5% - last week and now sit solidly below $40 per cwt ($800 per short ton).Fastmarkets AMM's daily US Midwest hot-rolled coil index dropped to $39.41 per cwt ($788.20 per ton) on Friday November 16, down 1.5% from $39.99 per cwt on the previous day and down 2.9% from a trailing five-day average of $40.60 per cwt.HRC prices started last week...Read More
(Kitco News) - Despite bitcoin falling below $5,000 on Monday, Ron Paul’s Twitter followers once again chose the popular cryptocurrency over gold in the former Republican Congressman’s annual Twitter poll.The conditions of the poll remained the same as last year: “A wealthy person gifts you $10,000. You get to choose in which form you’ll accept the gift.”The catch was...Read More
(Kitco News) - Although optimism is starting to grow among gold traders, one technical analyst warns that it is still a little too early to turn overly bullish on the precious metal.In a recent interview with Kitco News, Greg Harmon, founder of Dragonfly Capital, said while gold has bounced off recent support at $1,220 an ounce, prices need to push past their October highs above $1,246 an ounce, b...Read More