SANTIAGO - Chile's copper production touched 540,720 tonnes in November, its highest level in 13 years, as ore grades and efficient processing favored increased output in the world's top producer of the red metal, the government said on Monday.Copper production rose 7 percent from the same month the previous year, Chile's national statistics agency INE said, putting it at its highest level since D...Read More
As three of the most popular posts in 2018 on MINING.com cover battery materials, it is evident that the attention of the mining industry has shifted. As always, reads for the gold market follow closely behind.Interestingly enough, our 3rd place article on the list of top 10 reads was first published at the start of 2017. You know it's a good read when a story makes the list two years in a row.#...Read More
RAPAPORT... Macy's has removed a collection of Roberto Coin black-jadejewelry from its shelves following allegations the line bears unlawful gemcertification. Natural-stone supplier Kings Stone, which made the claimsthat prompted Macy's move in April, filed a lawsuit in August seeking damagesof $46.1 million from Roberto Coin Incorporated (RCI). The suit asserts thejeweler continued to use th...Read More
RAPAPORT... This story has legs: AUS jeweler has obtained a colorful opal featuring an encased insect. The rare stone originates from Java, Indonesia, andfeatures a well-preserved invertebrate, apparently with its mouth still open. Lookingclosely, one can even see thin fibers extending from the limbs, noted Philadelphia-basedgemologist Brian Berger, who recently acquired the gem. The phenomenon i...Read More
RAPAPORT... Nevada-based Adamas One Corp. has bought all assetsbelonging to Scio Diamond, a producer of lab-grown diamonds. Adamas will pay $3.3 million over 18 months to cover Scio's secured debt, according to a December 11 filing with the US Securities andExchange Commission. Scio will also receive 350,000 shares of Adamas stock, which it will useto settle its unsecured debts of more than $...Read More
In October, the U.S. Securities and Exchange Commission (SEC) adopted a final rule that overhauls its existing disclosure requirements for mining company issuers. The new disclosure requirements replace the SEC's existing Industry Guide 7 which had not been updated in over 30 years. The final rules provide a two-year transition period so that a registrant will not be required to begin to comply wi...Read More
RAPAPORT... The Damiani family plans to acquire the Italian jewelerthat bears its name, thereby delisting it from the Milan Stock Exchange. Leading Jewels, the Damianis' holding company, hasoffered to buy the entire group for up to EUR 11.8 million ($13.5 million), itsaid Friday. The company proposes to spend EUR 0.86 ($0.98) per share, representing a 5%premium to the stock's Thursday closing pric...Read More
RAPAPORT... De Grisogono has appointed C?(C)line Assimon as CEO, taskingher with international brand development and product expansion. Assimon will succeed John Leitao, who has been with the Swissluxury jeweler since May 2013. She was previously the director of high jewelryand exceptional pieces at Piaget, and worldwide head of jewelry and watch salesat Louis Vuitton. "With [C?(C)line's] ex...Read More
As three of the most popular posts in 2018 on MINING.com cover battery materials, it is evident that the attention of the mining industry has shifted. As always, reads for the gold market follow closely behind.Interestingly enough, our 3rd place article on the list of top 10 reads was first published at the start of 2017. You know it's a good read when a story makes the list two years in a row.#...Read More
Buyers in the export market for flat steel products from the Commonwealth of Independent States (CIS) are waiting for lower prices in early 2019 due to oversupply, sources told Fastmarkets MB.Fastmarkets MB's weekly price assessment for CIS-origin HRC exports was $440-460 per tonne fob Black Sea on Friday December 28, down $10 per tonne week on week.The CIS-origin HRC price fell by $117.50 per ton...Read More
(IDEX Online) - The assets of the lab-grown diamond maker Scio Diamond are being bought by a Nevada company called Adamas One Corp. According to the agreement between the firms, over a period of 18 months Adamas will pay $3.3 million to take care of Scio's secured debt. Adamas will also hand over 350,000 shares of its stock to Scio to cover its unsecured debts of more than $3 millio...Read More
The fob Australia alumina index declined below $400 per tonne on December 31, hitting its lowest level since March 2018 following the last Nalco tender of the year concluding at $396.21 per tonne. Fastmarkets' benchmark daily fob Australia index was calculated at $396.84 per tonne on Monday, edging down from $405.83 per tonne on Friday December 28. Key driversThe index level is now 43% lower than...Read More
The latest news and price moves to start the Asian day on Tuesday January 1.Base metals on the London Metal Exchange were predominantly down at the close of trading on Monday December 31, consolidating lower despite slight upticks in equity markets and a continued easing in the US dollar index. Read more here in our live futures report.Here is how prices looked at the close of...Read More
Comex copper prices dipped to start the week in the United States on a lack of trading volumes and continued market worries over a prolonged trade war.The copper price for March settlement on the Comex division of the New York Mercantile Exchange declined 2.50 cents to $2.6565 per lb."Broader risk-off sentiment continues...Read More
The treatment charges (TCs) paid for zinc concentrates continued to climb in December, while the market closed out a highly volatile 2018 at multi-year highs.Fastmarkets assessed the spot TCs for zinc concentrates at $210-230 per tonne basis cif China on December 28, the highest recorded since pricing began in December 2014.Zinc TCs have skyrocketed from decade lows in April after smelters in Chin...Read More
The London Metal Exchange has recommended to its Special Committee that the conditional suspension on the warranting of UC Rusal metal be lifted, according to a notice to members on Monday December 31, after a period for market feedback provided no further concerns. The eight-day period of market feedback, introduced by the LME on December 20, sought market-wide opinion from members, clients and o...Read More
Export billet prices from the Commonwealth of Independent States continued to decrease in the last days of December amid lower deals, offer and bids reported in the market.Trading activity was limited due to the year-end holidays. Fastmarkets' daily CIS export billet index was $408 per tonne fob Black Sea on Monday December 31, down by $5 per tonne day on the day.Russia-origin billet was offered t...Read More
Turkey's imports of flat steel decreased by 52.69% year on year in November 2018, the Turkish Statistical Institute (TUIK) said on Monday December 31.The country imported 358,826 tonnes of flat steel, compared with 758,499 tonnes in November 2017, TUIK statistics showed. The decrease in imports was largely due to the negative sentiment prevalent in the domestic steel market since August this year,...Read More
Import prices for steel slab in Southeast Asia and East Asia were unchanged during the past week due to a lack of bookings as well as sparse bids and offers amid the year-end trading lull.Fastmarkets MB's weekly import price assessment for slab in Southeast Asia and East Asia was $430-440 per tonne cfr on Monday December 31, the same as a week earlier.No deals were reported, but industry sources i...Read More
Import prices for rebar in Singapore were unchanged this past week amid thin spot trading caused by the year-end holiday season.Fastmarkets MB's assessment of import prices for rebar in Southeast Asia - which mainly looks at cargoes sold into Singapore on a theoretical weight basis - was $475-485 per tonne cfr for the week to Monday December 31, unchanged from a week earlier.Spot trading was even...Read More