Anglo American Plc is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns.The storied mining company, founded by Ernest Oppenheimer in Johannesburg a century ago, is devoting a third of its exploration budget to the continent, including searching for copper and cobalt in Angola and Zambia. In South Africa, it's investing in platinum...Read More
* OPEC, non-OPEC panel to meet on Sunday* U.S. oil stocks swell, output at record levels -EIA* U.S. grants Iran's biggest customers sanction exemptions* Iran's crude, condensate exports: https://tmsnrt.rs/2PMqQgS (Updates with settlement prices, quotes)By David GaffenNEW YORK, Nov 7 (Reuters) - Oil prices slipped on Wednesday, continuing a recent slide after surging U.S. crude output hit another r...Read More
Albemarle Corp, the world's largest lithium producer, on Wednesday posted quarterly profit that rose more than expected due in part to price hikes, though unexpected production problems cut its output of the white metal.Albemarle has been striving to boost production and prices of lithium, a vital material in making electric vehicle batteries. It has dedicated profit from its two other chemical di...Read More
Investing.com - U.S. crude prices turned negative after American crude oil inventories rose more than expected and output also jumped, increasing concerns over global supply.The EIA data showed that crude oil inventories increased by 5.783 million barrels in the week to Nov. 2.That was compared to forecasts for a stockpile build of just 2.433 million barrels, after a rise of 3.217 million barrels...Read More
At the Beijing Auto Show this year, 7 out of 10 "new energy vehicles" (NEVs) on display were by Chinese automakers. While EVs only accounted for 17% of the 1,022 models showcased, 124 of the 174 NEVs were made by domestic (Chinese) manufacturers. New energy vehicles in China refers to both battery-operated vehicles and plug-in hybrids.The numbers are proof of the trend towards electrification of t...Read More
NEWPORT BEACH, Calif./SANTIAGO - Albemarle Corp's claim to have developed a unique process that would more than triple its lithium production from Chile's Atacama Desert without using more water is drawing increased scrutiny from regulators and investors pushing for more details.The development could help Albemarle cement its position as the world's largest lithium company, just as global demand f...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.What does tight oil have in common with Facebook, Apple, Amazon, Netflix and Alphabet's Google stocks (known as FAANG stocks)? Answer: tight oil is arguably the upstream equivalent of these tech sector leaders. It's the hot investment...Read More
Investing.com - Gold prices moved higher on Wednesday as midterm elections created a divided U.S. Congress, pushing the dollar lower.At 9:56 AM ET (14:56 GMT), gold futures for December delivery on the Comex division of the New York Mercantile Exchange gained $5.40, or 0.44%, to $1,229.20 a troy ounce.Meanwhile, the?EUR?U.S. U.S. dollar index, which tracks the greenback against a basket of six maj...Read More
RAPAPORT... Diamcor Mining will put an additional 5,336 carats of roughrecovered from its Krone-Endora at Venetia project on sale in November. The stones are in addition to the 2,607 carats from regularprocessing the miner reported in September, it said Tuesday. The companyrecovered the extra rough while completing planned refinements to the asset'sscreening systems. Of the supplementary ston...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
RAPAPORT... Namibia's rough-diamond division is expanding its client base, after seeing strong sales in its first year of operations. Namdia garnered revenue of NAD 2 billion ($142.8 million) in the 12 months that ended February 28, and last week declared a dividend of NAD 50 million ($3.6 million) to the government. It reported an after-tax profit of NAD 139.4 million ($10 million)."Our clie...Read More
RAPAPORT... The pace of sales of jewelry and other luxury items slowed in Hong Kong in September, as poor weather and trade fears drove down tourismtraffic to the municipality. Sales rose of 2.2% to HKD 6.15 billion ($785 million) for jewelry, watches, clocks and other valuable gifts, according to data from the Census and Statistics Department. The growth was well below the 20% increase it ha...Read More
RAPAPORT... Pandora has lowered its revenue expectations for the thirdtime this year following a disappointing quarter, and will implement a new programto cut costs. The Danish retailer had an "unsatisfactory" third quarter,with global sales down 4% year on year to DKK 4.98 billion ($761.5 million). Theretailer has therefore reduced its full-year revenue-growth outlook to between2% and 4%, fr...Read More
Russia's Alrosa (MCX:ALRS) just recovered the first large gem-quality rough diamond from its Verkhne-Munskoe deposit, which recently launched operations in Western Yakutia.In a press release, the world's top diamond producer said the transparent round-shaped octahedron crystal with insignificant yellow hue was recovered from Zapolyarnaya pipe - one of four kimberlite pipes of the deposit. The dep...Read More
European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday November 7, with market participants becoming increasingly concerned over the state of the EU's import quotas.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe were ?,?535-560 ($611-639) per tonne delivered on Wednesday...Read More
RAPAPORT... Lev Leviev faces questioning over diamond-smugglingallegations that have led to six of his relatives and employees being arrested,according to reports.Israeli police detained Zevulun and Moshe Leviev, thetycoon's son and brother, who ran a factory that Lev Leviev owned, according toThe Times of Israel. The other four suspects held senior positions in thetycoon's companies, the report s...Read More
(IDEX Online) - Lucapa Diamond Company and Bonas-Couzyn are to tender production from the Mothae mine in Lesotho in Antwerp. Mothae is located in the diamond-rich Maluti Mountains within 5km of Letseng, the world's highest US$ per carat kimberlite diamond mine. Lucapa owns 70% of the high-value Mothae kimberlite project in Lesotho in partnership with the government of Lesotho (30%)....Read More
Anglo American Plc is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns.The storied mining company, founded by Ernest Oppenheimer in Johannesburg a century ago, is devoting a third of its exploration budget to the continent, including searching for copper and cobalt in Angola and Zambia. In South Africa, it's investing in platinum...Read More
The newly commissioned Verkhne-Munskoe deposit, in western Yakutia, has yielded its first large diamond, Russian miner Alrosa reported on Wednesday, announcing the recovery of a 51.49 ct rough diamond.The transparent round-shaped octahedron crystal has an insignificant yellow hue and measures 23 mm by 22 mm by 15 mm.Advertisement"It is the first rough diamond over 50 carats from Verkhnyaya Mu...Read More
(IDEX Online) - ALROSA said it has recovered the first large gem-quality rough diamond from Verkhne-Munskoe deposit that was commissioned on October 31. The transparent round-shaped octahedron crystal with insignificant yellow hue was recovered from Zapolyarnaya pipe - one of four kimberlite pipes at the deposit. The 51.49-carat rough diamond measures 23 by 22 by 15 mm. The approximate age...Read More