(For a live blog on the U.S. stock market, click LIVE/ or type LIVE/ in an Eikon news window.)* Nasdaq leads losses in volatile session* Amazon, Netflix among declining big growth names* Financials, staples mitigate declines* Red Hat surges on $34 bln purchase by IBM (NYSE:IBM)* Indexes down: Dow 0.99 pct, S&P 0.66 pct, Nasdaq 1.63 pct(Adds graphic on FANG stocks)By Lewis KrauskopfOct 29 (Re...Read More
LONDON, Oct 29 (Reuters) - Mining companies must forge new ties with partners from customers to governments as they pursue innovation and compete for talent with technology giants, Rio Tinto's chief executive said in a speech to be delivered on Tuesday.The mining industry has recovered from the deep commodity crash of 2015-16, but faces headwinds from U.S.-China trade tensions, which have dented t...Read More
RAPAPORT... Lucapa Diamond Company's sales fell 49% year on year inthe third quarter as the miner withheld a parcel of large stones until afterAngola's new marketing policy goes into effect. Revenue came to $4.5 million from two tenders during thethree months ending September 30, the company reported Monday. Sales volumesdeclined 4% to 5,058 carats, while the average price fell 47% to $893 percara...Read More
RAPAPORT... The Democratic Republic of Congo (DRC) has exportedconflict-free artisanal gold to the US jewelry market for the first time,according to groups involved in the project. The metal from the South Kivu province has gone on sale atcertain Signet Jewelers retail chains, the Responsible Artisanal Gold SolutionsForum (RAGSF) said last week. RAGSF and the US Agency for International Devel...Read More
World's No.1 diamond producer by output Alrosa (MCX:ALRS) has joined rival De Beers' end-to-end diamond blockchain program, aimed at clearing the supply chain of imposters and conflict precious rocks.Anglo American's De Beers, the largest diamond miner by value, began developing its "Tracr" tracking platform last year, but officially launched a pilot program to test the technology in January.With...Read More
Shares in Africa-focused Firestone Diamonds (LON:FDI) climbed Monday after the company said that its 75%-owned Liqhobong diamond mine in Lesotho had a strong start to the second quarter after selling its third most valuable stone to date.The 68-carats white diamond fetched just under $1 million, it said, adding it also sold and a 20-carats fancy yellow diamond at an undisclosed price. Firestone...Read More
Russian diamond miner Alrosa has joined the Tracr diamond industry blockchain traceability platform that fellow miner De Beers is developing.Alrosa’s involvement brings the world’s two largest diamond producers together in the pilot programme that aims to provide enhanced assurance for consumers and trade participants about the authenticity of their diamonds.Advertisement“To prov...Read More
(IDEX Online) - Blue Nile, Inc. the largest online retailer of certified diamonds and fine jewelry, has opened a new facility for its Diamond and Jewelry Consultants, continuing the brand's commitment to providing the industry's most advanced service. At the forefront of innovation, the facility was designed to increase productivity and continue the award-winning customer service...Read More
(IDEX Online) - Yoram Dvash, President of the Israel Diamond Exchange (IDE), has been appointed to head a new committee of the World Federation of Diamond Bourses (WFDB) to undertake strategic initiatives to advance the global industry, the IDE said in a statement. The new appointment was announced during the World Diamond Congress in Mumbai, which concluded last week. IDE President...Read More
Cobalt spot market prices for both high- and low-grade material increased week on week on Wednesday October 24 on bullish sentiment that was fueled by supply tightness in the United States, arising from sanctions on Chinese metal, Fastmarkets has heard.Although the cobalt spot market was unusually slow last week, due to industry conferences and the beginning of contract price negotiations, the dea...Read More
The Star Diamond Corporation has received environmental approval from the Saskatchewan government for its Star-Orion South project, near Prince Albert.The project already has a positive federal environmental assessment decision in the bag.AdvertisementThe company recently announced the positive results of the independent preliminary economic assessment on the project, which estimates that 66-milli...Read More
(IDEX Online) - The GIA announced that Alrosa, the world's largest producer of rough diamonds, is piloting the Institute's M2M program. "The M2M program is a way to share with the consumer the story of our diamonds," said Sergey Ivanov, CEO of Alrosa. "The creation of tracing systems is an important step in confirming diamond provenance, which will have benefits for industry participants, r...Read More
Mining technology and geotechnical slope-stability-monitoring radar systems supplier Reutech Mining plans to expand its product range in 2019, says executive manager Jan de Beer.The company provides equipment that can assist in real-time monitoring of the mine walls in opencast mines to provide early warning before slope failures occur. The product range includes the Reutech Mining Movement and Su...Read More
(IDEX Online) - Lucapa Diamond Company and the government of Lesotho have received an approved Term Sheet from the Industrial Development Corporation of South Africa Limited (IDC) for a ZAR100 million (US$7 million) development facility for the Mothae diamond mine in Lesotho. Lucapa owns 70% of the operation, while the government of Lesotho owns the remainder. The financing agreement...Read More
Comex copper prices edged higher Monday morning in the US with the market holding steady amid further Chinese stock market deterioration. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 1.25 cents to $2.7535 per lb.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% ov...Read More
South Korean zinc smelter Young Poong is facing a 20-day shutdown at its Sukpu refined zinc smelter after a court rejected the company's appeal against a closure order.Situated in a national park, the Sukpu smelter is alleged to have discharged waste from the smelting process into the local river, which is used for drinking water by millions of people. Environmental groups and residents have been...Read More
Base metals prices on the London Metal Exchange were mostly lower at the start of the week on Monday October 29, with nickel trading at a 10-month low while weaker Chinese stocks indices add pressure across morning trading.Concerns of a slowdown in the Chinese economy continue to weigh on Asian shares, with the Shanghai Composite falling 2.2% over the morning and nearing levels unseen since 2014.&...Read More
International trading house Concord Resources is suing rival merchant Kyen Resources for $1.1 million, making it the third company to file a lawsuit against the embattled metals trader at the Singapore High Court. Based on the court document filed on October 22, Concord Resources sold one parcel of about 500 tonnes of London Metal Exchange-registered aluminium ingots to Kyen Resources on October 1...Read More
White Rock sets cracking Alaska pace in first field seasonSPONSOREDwhite rock minerals Bezant was a bona fide market darling back in 2007, with the company's share price peaking at £120 on the strength of the company's ownership of the Mankayan deposit, in a long-established mining district about 250km by road north of Manila.The excitement was justified. A nine-hole drill program by Bezant...Read More
Aluminium billet premiums have remained largely stable worldwide, although Asian premiums have seen some weakness. Supply is generally regarded as tight globally, although slowing demand may loosen supply.European markets draw interestEuropean billet premiums were relatively stable on Friday October 26, holding near highs following the United States' sanctions against UC Rusal.The premium for 6063...Read More