Oct 16 (Reuters) - Amazon.com Inc AMZN.O is likely to buy an at least 7 percent to 8 percent stake in India's Future Retail (NS:FURE) Ltd FRTL.NS through an investment arm, CNBC-TV 18 reported, citing sources.The potential cash-and-stock deal, which is in its final stages, could be worth 25 billion rupees ($338 million) and is likely to be signed in the next two weeks, the channel https://www.cn...Read More
Beneath the hoods of millions of the clean electric cars rolling onto the world's roads in the next few years will be a dirty battery.Every major carmaker has plans for electric vehicles to cut greenhouse gas emissions, yet their manufacturers are, by and large, making lithium-ion batteries in places with some of the most polluting grids in the world.By 2021, capacity will exist to build batteries...Read More
The Turkish deep-sea scrap market remained silent again on Tuesday October 16, with volumes of billet being purchased instead of scrap, according to market participants.Appetite for scrap has been falling and demand remains low, with reports of mills choosing to purchase billet instead. Turkish domestic billet prices have been on a general downtrend since September 13.Many Turkish steel mills have...Read More
(The opinions expressed here are those of the author, a columnist for Reuters)* Global Copper Stocks: https://tmsnrt.rs/2OwwYKI* Stocks by Exchange: https://tmsnrt.rs/2OsdVRnBy Andy HomeLONDON, Oct 16 (Reuters) - The copper market is currently experiencing a squeeze on physical metal.This is unexpected.The London Metal Exchange (LME) price CMCU3 is treading water just above the $6,000 level, strug...Read More
Rio Tinto lowered its 2018 guidance for aluminium by more than 4% on Tuesday October 16, to reflect the impact of the ongoing lock-out at the Becancour smelter in Quebec, Canada.The company's guidance figure for aluminium production has been revised to 3.4-3.5 million tonnes from 3.5-3.7 million tonnes previously, excluding any potential adjustment from the completion of the sale of the Aluminium...Read More
The latest news and price moves to start the Asian day on Wednesday October 17.Base metals prices on the London Metal Exchange recorded mixed moves at the close of trading on Tuesday October 16, broadly supported by a weaker dollar index in the United States and a marginal recovery in global equity markets. Read more in our live futures report.Here are how prices looked at the close of t...Read More
RAPAPORT... Bonhams has appointed Brett O'Connor as senior internationaljewelry director and senior vice president of its US operations, the auction house saidTuesday. O'Connor makes the move after 16 years at Sotheby's Geneva,where he was one of the lead auctioneers for the company's major jewelry salesin Geneva, Hong Kong, London and New York. He was also responsible for globalsourcing of j...Read More
RAPAPORT... Recovery of lower-grade ore at Rio Tinto's Argyle and Diavikmines led to a 17% drop in production in the third quarter.Output came to 4.9 million carats for the three monthsending September 30, the company said Tuesday. The Argyle asset in Australiayielded 3.8 million carats, plummeting 19% over the same period last year. Lastyear, Rio Tinto's production was enhanced by the proces...Read More
A group of scientists has discovered one of the rarest minerals on Earth buried deep within what may be the largest-known meteorite impact crater in Australia.The ultra-rare mineral known as reidite was found by Curtin University researchers in the long buried Woodleigh Crater near Shark Bay, Western Australia, about 750 km. north of Perth.Reidite only forms in rocks that experience the incredible...Read More
Fastmarkets' Shanghai-London physical arbitrage calculation for copper was published incorrectly on Tuesday October 16 due to an error in inputting the data.The copper import arbitrage, which tracks the physical import arbitrage into the Shanghai market, was initially published as -$122.48 per tonne/-850.23 yuan per tonne.It has now been corrected -$118.42 per tonne/-822.04 yuan per tonne.Fastmark...Read More
RAPAPORT... Countries should designate locations where colored gemstonesenter the market in a bid to ensure the integrity of the industry's supplychain, according to the World Jewellery Confederation (CIBJO). CIBJO president Gaetano Cavalieri called for the introduction of monitored"chokepoints" - places at which goods pass during shipping. The system wouldbenefit governments by creating lega...Read More
The London Metal Exchange has suspended delivery of Sterlite Copper's STERLITE T copper cathode brands for delivery from January 16, 2019, it said today on October 16.The suspension, which can be indefinite but is not a de-listing, is attributed to Sterlite's Tuticorin 400,000 tonnes-per-year refined cathode...Read More
RAPAPORT... The Uchihara Group will open a store in Ginza, Japan, and launch a new brand of jewelry at more affordable pricesthan its signature SA Birth collection. The new line - SA Birth Ginza -is a reinvented version of the original brand, which is sourced from southernAfrican countries, including Botswana, South Africa and Lesotho, the companysaid Monday. Uchihara will launch the label when i...Read More
(IDEX Online) - The 2018 CIBJO Congress opened yesterday (Monday) in the Colombian capital of Bogot??, with a strong focus on responsible sourcing in the jewelry industry. This included the introduction of a Responsible Sourcing Guidance document, which will serve as a reference for responsible sourcing practices developed and applied by industry organizations and commercial bodies worldwi...Read More
The price of copper on the Comex exchange in the United States was slightly lower on the morning of Tuesday October 16, with the market unable to sustain the momentum it gained after LME Week in London earlier this month.The copper price for December settlement on the Comex division of the New York Mercantile Exchange dipped by 0.50 cents to $2.7880 per lb.Despite disruptions at key producing faci...Read More
(IDEX Online) - De Beers sold rough diamonds with a provisional value of $475 million in the eighth 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 which have all been above the $500 million mark. The miner reported confirmed sales of $503 million in the seventh cycle, compared with a...Read More
The world's largest mining company, BHP, has increased its stake in Ecuador-focused copper junior miner SolGold to 11.2% from 6%, it said in a notice late on Monday October 15.BHP entered into a share subscription agreement whereby SolGold will issue 100 million shares to the company at 45 pence sterling ($0.59) per share, a 32% premium on the past 20-day average. The increase will give BHP the op...Read More
(IDEX Online) - Rio Tinto reported that production was 19% lower on the year in the third quarter at its Argyle mine in Australia. &nbs...Read More
(IDEX Online) - Christie's Private Sales will present A Diamond Affair from October 29-31, showcasing an array of exceptional diamond jewels and unmounted gems. The items range from a 100-carat diamond tiara to a rare blue diamond, the auctioneer said. The jewels will be displayed alongside original artwork by John McLusky, a leading graphic artist who serialized Ian Fleming's James...Read More
(IDEX Online) - The Second World Emerald Symposium closed on October 14 in Bogota, Colombia, after three days of discussions on a variety of issues and challenges facing the emerald industry along with informative talks on small-scale and industrial mining, geology, gemology, origin, treatments, jewelry and more. For many of the speakers, the major and recurrent theme focused on the need f...Read More