Mining companies across the globe now consider the risk of losing their licence to operate as the biggest risk to their businesses in the next two years, a new study shows.According to the 11th annual EY survey of 250 executives, the topic was listed sixth in the list of the ten major risks facing mining and metals firm in 2019-2020. Other challenges listed by the participants were rising national...Read More
PERU - SENACE, the Peruvian National Environmental Certification Service, has rejected Toronto-based Sierra Metals' environmental impact assessment for the expansion of the tailings management facility at the Yauricocha polymetallic mine in the Yauyos province.Sierra Metals has 15 business days to provide a re-evaluation to the authorities to initiate a review process. This process will delay the...Read More
* OPEC ends meeting with no output cuts announced* OPEC, Russia to discuss potential supply cut on Friday* GRAPHIC-OPEC, U.S. & Russia output: https://tmsnrt.rs/2E0xgTz* U.S. turns into net exporter of oil (Updates to settlement, details on Friday meeting)By Devika Krishna KumarNEW YORK, Dec 6 (Reuters) - Oil fell nearly 3 percent in choppy trading on Thursday after OPEC and its allies ended a...Read More
(Corrects first paragraph to clarify timeframe is end, not middle, of 2019)NEW DELHI, Dec 6 (Reuters) - Fitch Ratings said on Thursday it expects the Indian currency to weaken to 75 rupees against the U.S. dollar by the end of next year on a widening current account deficit and tighter global financing conditions.Despite a few recent advances, the rupee is on track for its worst yearly performance...Read More
* NSE index end down 1.7 pct, BSE index close 1.6 pct lower* Only 2 stocks on NSE index, 1 on BSE index finish in the greenDec 6 (Reuters) - Indian shares ended lower on Thursday, marking their worst closing levels in two weeks, dragged down by index heavyweights such as Reliance Industries Ltd RELI.NS and Infosys Ltd INFY.NS .The broader NSE index .NSEI closed 1.69 percent lower at 10,601.15,...Read More
* FTSE 100 ends down 3.2 percent* Huawei arrest stirs trade tension worries* Oil, mining stocks lead fallers (Adds closing prices)By Josephine Mason and Julien PonthusLONDON, Dec 6 (Reuters) - UK shares plunged on Thursday and recorded losses not seen since the aftermath of the Brexit vote as a sell-off swept global markets following the arrest of a top Huawei executive that renewed worries about...Read More
Mining companies across the globe now consider the risk of losing their licence to operate as the biggest risk to their businesses in the next two years, a new study shows.According to the 11th annual EY survey of 250 executives, the topic was listed sixth in the list of the ten major risks facing mining and metals firm in 2019-2020. Other challenges listed by the participants were rising national...Read More
Investing.com - Gold prices were flat on Thursday after the arrest of a top executive at China-based Huawei Technologies sparked worries that it could reignite the U.S.-Sino trade dispute.Comex gold futures for February delivery inched up 0.04% to $1,243.05 a troy ounce as of 8:52 AM ET (13:52 GMT).Market sentiment was on edge after Meng Wanzhou, the chief financial officer at smartphone company H...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 1.9 pct; midcaps down 1.5 pct* Huawei arrest stirs trade tension worries* Oil, mining stocks lead fallersLONDON, Dec 6 (Reuters) - UK shares were sharply lower on Thursday, hitting their weakest levels in two years as oil and mining stocks fell and investors shunned sectors they consider risky after the arrest...Read More
Trade log for battery-grade lithium carbonate in China including trades, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per tonne on an ex-works China basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets price assessment for lithium carbonate min 99.5% Li2CO3 battery grade, spot price range, ex-works China, yuan per tonne. Fastmar...Read More
Market focused on jewelry retail as Christmas approaches. Brandstargeting female self-purchasers and enhancing omni-channel platforms to drivegrowth. Diamond market stable. November 1 ct. RAPI +0.6%, supported by USholiday demand and preparations for Chinese New Year. Rough trading cautious asmanufacturing profit is tight and inventory high, despite seasonal demand.Signet Jewelers 3Q sales +3% to...Read More
RAPAPORT... Production of lab-grown polished diamonds could grow to 17 million carats annually, taking a significant chunk of the market for small stones, according to Bain & Company. The synthetics industry currently has the capacity to produce about 2 million carats of gem-quality, lab-grown polished per year, the majority of which is under 0.18 carats, Bain estimated in its 2018 Global...Read More
Zimbabwean President Emmerson Mnangagwa is under growing pressure one year after taking office following the removal of long-time leader Robert Mugabe. That pressure may be about to increase if his handling of the diamond industry doesn't reflect his alleged commitment to economic reform and anti-corruption.That's the main message of a report released Thursday by campaign group and accountability...Read More
Demand for flat steel in Turkey is expected to remain slow throughout December, and export demand was not strong because of seasonal reasons, but prices are not expected to fall because they did so in November, market participants told Fastmarkets on Thursday December 6.Local producers have filled their order books until late January, they said.The price falls in November resulted in part from wea...Read More
Market improving, with noted presence of Chineseand Israeli dealers looking for goods. SI3-I1 clarities moving better. Buyerspushing for higher discounts and prepared to wait for the right price.Manufacturers operating at reduced capacity, and rough trading restrained aheadof De Beers sight. Local jewelry market stable during ongoing wedding season. RoundRead More
(IDEX Online) - A ring made by Bulgari and set with fancy vivid blue diamond weighing 8.08 carats was sold for $18,312,500 at Christie's New York Magnificent Jewels auction. The auction generated sales of $69,225,750, with 95% of items sold by value and 83% by lot. Christie's said the blue diamond was among the finest such stones ever to have come to market. Sale highlights also incl...Read More
RAPAPORT... Signet Jewelers' shares slumped 14% in early trading Thursday after the retailer reported a deeper loss, even as sales grew.The retailer's net loss intensified to $38.1 million from $12.1 million a year ago due to higher expenses and the absence of interest income from its prime credit program, which it sold for $960 million in October 2017. Same-store sales rose 1.6% in the third...Read More
(IDEX Online) - Zimbabwe is to allow two additional private firms to explore and mine for diamonds, according to Mines Minister Winston Chitando. He did not name the new companies. There are currently two firms operating in the sector. Chitando said the government's new diamond policy would allow for two more private companies to explore and mine diamonds, and that a...Read More
JOHANNESBURG (miningweekly.com) – The objectives of innovating and generating cash are not mutually incompatible and can be achieved at multiple levels simultaneously, says Dassault Systèmes Geovia Brand CEO Raoul Jacquand, who was in Johannesburg to showcase the French company’s suite of advanced three-dimensional (3D) software.Ahead of the company’s National Resources F...Read More
RAPAPORT... In the era of fake news and synthetic diamonds, it was a matter of time before the two would meet. They did so recently in the form of editorials in the South China Morning Post (SCMP) and on the Russia Today (RT) TV channel, which took some cheap shots at the diamond trade. The ill-informed pieces highlight some still-prevalent misconceptions about the industry's ethical practices. Th...Read More