HARARE/LONDON – De Beers and Vast Resources will be allowed to explore for diamonds in Zimbabwe, which would make them the first listed companies to mine there in that sector for two years, Mining Minister Winston Chitando said.A spokesman for De Beers, an Anglo American unit, said in an email it was not mining in Zimbabwe and did not intend to. Vast Resources said it could not comment.Adver...Read More
JSE-listed diamond miner Trans Hex reported a group net profit of R52-million for the six months ended September 30, compared with the R199-million loss reported for the six months to September 30, 2017.The company managed to raise its earnings a share to 37.6c apiece, compared with a loss of 89.7c apiece in the prior comparable period.AdvertisementSales revenue from the South African operations i...Read More
Comex copper prices moved higher on the morning of Thursday December 13 in the United States, with easing global trade tensions providing a boost to risk appetite.The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 0.90 cents to $2.7790 per lb.Worries that the trade war between the US and China will only escalate in 2019 have softened in recent we...Read More
As part of its series on blockchain in commodities, Fastmarkets takes a closer look at the evolution of blockchain networks for trade financeMarco PoloOne of the fastest growing trade and working capital finance networks in blockchain is the Marco Polo network, a joint venture with technology firm TradeIX and software firm R3, along with a number of major banks and their clients.Designed to facili...Read More
JOHANNESBURG (miningweekly.com) – The Mining Charter has significant room for improvement to enable meaningful participation of women in mining, says Women in Mining South Africa (WiMSA) chairperson Lindiwe Nakedi.Soweto-born Nakedi, who owns Gubhani Exploration – a surface exploration drilling company that is currently the only 100% black women owned drilling company in South Africa...Read More
London Metal Exchange base metal prices are broadly higher on Thursday December 13 due to good signals from China-US trade tensions, with the three-month zinc price leading the complex due to historic low inventories."More positive steps from China on trade seem to be easing some of the concerns in the market, although traders are probably nervous that any positivity could be unwound with one pres...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) dropped 7% month on month in November, based on data released by major Japanese trading house Marubeni on Thursday December 13.Total MJP aluminium stocks stood at 295,400 tonnes at the end of November, compared with 317,300 tonnes at the end of October, the third consecutive drop since September. The total stock level, however, remain...Read More
Sustained investment in people a big plus for consultancySPONSOREDbyrnecutMahenge 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 mineralsMining, oil and gas combined contributes 37% of the territory's gross domestic product, making the it the north's large...Read More
It was another firmer start for the three-month base metals prices on the London Metal Exchange this morning, Thursday December 13, with all the metals in positive territory and showing average gains of 0.6%.More positive steps from China on trade seems to be easing some of the concerns in the market, although the traders are probably nervous that any positivity could be unwound with one president...Read More
RAPAPORT... Global Witness is calling for improved transparency in Zimbabwe's diamond sector, pitching it as a test case for the new president's economic reforms."The new government's handling of the Marange diamond industry will be a clear indication of whether its commitments to economic reform and anti-corruption go beyond lip service," Sophia Pickles, campaign leader for the organization,...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday December 13* Copper -$116.88 (-804.62 yuan) Aluminium -$429.32 (-2,955.46 yuan) Zinc -$104.15 (-716.99 yuan) Nickel $143.04 (984.71 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
Companhia Sider??rgica Nacional (CSN) expects Brazilian apparent consumption of flat steel to grow in 2019 while imports' share of usage remains stable, an investor presentation published on Wednesday December 12 showed.The company estimated that Brazilian flat steel consumption will reach 13.43 million tonnes next year, 6% above the 12.67 million tonnes forecast for 2018. Import penetration in bo...Read More
BHP Group may be heading for another clash with investors as the world's biggest miner gets closer to a decision on whether to build, sell or mothball its $20 billion potash project.The Jansen mine in Canada is aimed at giving the company exposure to rising global food demand and represents one of its few big growth prospects. BHP has already spent about $2.7 billion on the project, according to...Read More
US flat-rolled import prices have dipped, with cheaper hot-rolled coil and cold-rolled coil mirroring declines in global steel prices, market participants said.Fastmarkets AMM's price assessment for imported hot-rolled coil fell to $680-720 per ton cfr port of Houston on Wednesday December 12, down from $700-750 per ton two weeks earlier. The assessment for imported cold-rolled coil ...Read More
Wire rod prices in the United States have stayed flat over the past two weeks, while industry sources were divided as to whether mill hikes announced in November will be accepted by the marketplace in January 2019. Fastmarkets AMM's price assessment for industrial quality low-carbon rod held firm at $39.25-41.25 per hundredweight ($785-825 per short ton) fob mill on Wednesday December 12, with imp...Read More
Turkish billet prices have fallen over the past week because mills in the country have been struggling with weak rebar demand in both the domestic and the export markets, sources said on Thursday December 13.Fastmarkets MB's weekly price assessment for billet imports into Turkey was $435-445 per tonne cfr, widening downward from last week's range of $440-445 per tonne.Billet producers in the CIS r...Read More
Turkish domestic long steel prices have continued to weaken over the past week due to limited demand from the construction sector in particular, sources said on Thursday December 13.Fastmarkets' weekly price assessment for domestic rebar in Turkey was at TRY2,880-2,950 ($538-551) per tonne ex-works, including 18% VAT, down from last week's TRY2,900-3,000 per tonne.The local sales prices for r...Read More
It was another firmer start for the three-month base metals prices on the London Metal Exchange this morning, Thursday December 13, with all the metals in positive territory and showing average gains of 0.6%. More positive steps from China on trade seems to be easing some of the concerns in the market, although traders are probably nervous that any positivity could be unwound with one presidential...Read More
Turkish rebar and wire rod export prices have continued to fall over the past week amid sluggish demand in the country's major export markets.Mills in Turkey lowered their offers to $470-475 per tonne fob on actual weight basis from last week's offers of $480-485 per tonne.However, even those lower offer prices failed to find buyers because of the very weak demand and trade barriers, sources said....Read More
Fastmarkets plans to offer new manganese ore indices on a free-on-truck (fot) basis for both 37% and 44% material, normalized to the port of Tianjin, in an effort to deepen its coverage of the manganese market.The process to introduce the new indices has been initiated in response to demand from the market for stand-alone fot data.Interest in an independent port price has grown due to a great...Read More