Oct 17 (Reuters) - Britain's FTSE 100 .FTSE index is seen opening up 27 points higher at 7,087 on Wednesday, according to financial bookmakers.* BHP: The world's biggest miner, BHP BLT.L BHP.AX , said on Wednesday its first-quarter iron ore production rose 8 percent on strong Chinese demand for high-grade ore, but cut its fiscal 2019 guidance for copper production, citing outages at key mines. ANG...Read More
RAPAPORT... You don't have to be in China to sell to Chinese people.That's the message from luxury marketing experts, who point out that tourists,students and immigrants from the world's largest fine-jewelry consumer have ahuge impact on the retail sector in Western countries. "The joke in the high-end luxury-goods community is that ifyou want to start a new luxury brand, the place to put it is wh...Read More
RAPAPORT... India's polished-diamond exports fell in September,according to data from the nation's Gem & Jewellery Export PromotionCouncil (GJEPC).Polished exports decreased 11% year on year to $2.37 billionand, by volume, fell 29% to 2.78 billion carats. The average price rose 26% to$851 per carat. Polished imports dropped 7% year on year to $163 million,while net polished exports - the...Read More
Botswana Diamonds (LON:BOD) and its joint venture partner in Zimbabwe Vast Resource (LON:VAST), are stepping up exploration activity at their concession in the African nation's Marange Fields area.The decision comes after the companies received Wednesday a preliminary geological assessment of the property, which shows Heritage contains several targets for modern alluvial diamond placer deposits.It...Read More
RAPAPORT... Manufacturers were concerned about profitability at last week's De Beerssight, and expressed hope their new supply agreement with the miner would easethe situation.De Beers had proceeds of $475 million during the October sales cycle amid weakdemand for smaller rough diamonds, the company reported Tuesday. Sightholders described lastweek's sight as difficult, as they felt compelled...Read More
Fastmarkets MB's nickel premiums were stable across all regions in the week to Tuesday October 16 in quiet trading conditions after the London Metal Exchange Week. Premiums in China were steady due to a closed import window and stock overhang. European premiums were unchanged following the annual gathering of the metals market in London for LME Week. Nickel premiums in the United Stat...Read More
Diamond miner De Beers Group on Tuesday announced that it had sold $475-million worth of rough diamonds during the eighth sales cycle of this year.This is lower than the $503-million worth of diamonds sold in the seventh cycle of the year, but higher than the $376-million worth of diamonds sold in the eighth cycle of 2017.AdvertisementThe sales are based on global sightholder sales and auction sa...Read More
The Turkish deep-sea scrap market remained silent again on Tuesday October 17, but a rise in the value of the Turkish lira and market rumors about changes to US import tariffs helped prices, according to market participants.The Turkish lira has continued to pick up this week, and was trading at TRY100 to $17.38 on October 17, up from TRY100 to $17.01 on October 15, according to Oanda.com.No deep-s...Read More
A United States senator has introduced bipartisan legislation in the country's senior legislative body, the Senate, that would allow more oversight of price reporting and price-setting entities that operate in the aluminium markets.The legislation was promoted by Cory Gardner, a Republican Party member from the state of Colorado. It builds on a bill introduced into the lower House of Representativ...Read More
One simple solution to optimize your underground operationSPONSOREDkomatsuKin reshaping path towards developmentSPONSOREDkin mining nlKasbah on cusp of tin riches at world-class AchmmachSPONSOREDkasbah resourcesNew thinking carves out strong zinc position for Europa MetalsSPONSOREDeuropa metalsCopper production rose by 1% year-on-year to 409,000 tonnes due to higher volumes at Escondida, which was...Read More
Comex copper prices were slightly higher in morning trading on Wednesday October 17 with a rising dollar preventing any significant gain.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 0.60 cents to $2.7855 per lb. "We are seeing very quiet conditions in metals so far this week; yesterday ended in a mixed...Read More
Tin premiums were flat across the board in the week to Tuesday October 16, even with the threat of restricted supply from major tin producer Indonesia hanging over the market. European premiums steady at 19-month low US premiums move sideways in slow market China premiums flat amid weak smelter demand European premiums hold ground despite production threat The premium for 99.9% s...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesIt produced 5.36 million pounds of copper and 3,010 ounces of gold, up 5% and 6% respectively on the previous corresponding period, due mainly to an 8% increase in processed ore.The com...Read More
Alcoa intends to shut down its Spanish aluminium smelting operations at La Coru??a and Avil?(C)s, citing the plants as being the least productive within the Alcoa system due to structural issues. The two plants have a combined production of 180,000 tonnes per year - producing primary aluminium, billet and slabs. La Coru??a and Avil?(C)s also have a combined idle capacity of 53,000 tpy. "Structural...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resources On the heels of a feasibility study in July that laid out a commercial case for restarting the operation, CEO Rodrigo Barbosa hailed the development as a "transformational milestone" for the project and company.He said the proejct was on track to achieve commercial production by the end of the year. Amerigo MVC plant ramp-up on courseS...Read More
The world market for salt is forecast to grow fast, a newly released report by Roskill reveals. Salt is used to produce chlorine, caustic soda and a range of other chemicals required by industry.Roskill reports the Chinese chemical sector will continue to drive demand for high purity salt to 2027, and will be a major factor driving future projects in Asia and India.By 2027, Asia is forecast to acc...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe company received its activated Class III underground injection control (UIC) area permit, allowing it to extract up to 125 million pounds of copper per annum, using what it described as the ...Read More
The latest metal markets news and price moves to start the North American day on Wednesday October 17.Base metals prices on the London Metal Exchange were mostly higher during morning trading, with aluminium shrugging off another huge delivery into LME-listed warehouses.Over 92,000 tonnes of aluminium was delivered into warehouses in Asia this morning - with the majority arriving in Port Klang.&nb...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesBHP said it had entered into a share subscription agreement with Brisbane-based SolGold to buy an additional 100 million shares.The company will pay 45 pence per share, a 32% premium to...Read More
Several zinc and lead mining and smelting companies have been targeted for secondary sanctions by the United States Treasury over alleged ties to paramilitary organizations. Companies including Bandar Abbas Zinc Production Co, Calcimin, Iran Zinc Mines Development Co and Qeshm Zinc Smelting and Reduction Co - all producers of zinc concentrates and ingots - have been targeted. These organizations a...Read More