The Vice President of Ecuador, Otto Sonnenholzner, and the Minister of Energy and Non-renewable Natural Resources, Carlos P?(C)rez, presented the country's new Public Mining Policy, with the focus on supporting large-scale operations and investments, and eradicating illegal mining.The announcement was made during a visit to the southern Zamora Chinchipe province, where Lundin Gold's (TSX:LUG) flag...Read More
Prices for rebar produced and delivered in Southern Europe widened upward by ?,?5 per tonne on Wednesday June 5 on limited trading, but weak demand continued, market participants told Fastmarkets.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe rose to ?,?495-515 ($557-579) per tonne delivered on Wednesday from ?,?495-510 per tonne delivered on May 29."The price has...Read More
Key data from the Wednesday June 5 pricing session in Europe.Key drivers- The European ferro-titanium price fell for the second consecutive week after six weeks of stability. - Demand for ferro-titanium was muted short term, although one source said it had picked up over the past week.- One...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday June 5 that are worth another look.Nickel market analysts were resolutely bearish during a pricing panel at Fastmarkets' seventh International Nickel conference in Amsterdam on Wednesday June 5, forecasting that the London Metal Exchange three-month nickel price is unlikely to breach $13,000 per tonne this year. ArcelorMittal...Read More
The London Metal Exchange hopes to drive nickel stocks back onto the exchange with new warehouse proposals to be announced in the summer, vice-president of sales Alberto Xodo said on Wednesday June 5.LME nickel stocks dropped to around 160,000 tonnes on June 3-4 this year, compared with 446,676 tonnes in January 2016, when the LME warehouse reform to end delivery queues was implemented."The wareho...Read More
Two uranium mining companies said on Wednesday they are "confident" that U.S. President Donald Trump will implement limits on uranium imports after the Commerce Department recommended urgent steps to boost domestic production of a list of 35 "critical minerals" that included the nuclear fuel.The White House is currently reviewing a petition lodged by the companies, Ur-Energy and Energy Fuels, that...Read More
Purepoint Uranium Group of Toronto has offered an update on work planned for the Hook Lake uranium project. Purepoint (21%) sat down with its joint venture partners Cameco (39.5%) and Orano Canada (39.5%) to review data and develop the next steps to advance the project.There are three areas of particular interest. The North Dragon area lies 800 metres west of and parallel to the Dragon shear zone....Read More
Tin flows into the London Metal Exchange late in May and June are beginning to put pressure on tin premiums basis the regions we follow, with the US ingot premiums narrowing downward on Tuesday June 4. An additional influx to LME Baltimore warehouses pressured US premium down. European premiums hold with futures prices closer to today's. Chinese premiums extend lengthy flatline trend....Read More
The Patterson and Derkson uranium corridors. (Image: Purepoint Uranium)SASKATCHEWAN - Purepoint Uranium Group of Toronto has offered an update on work planned for the Hook Lake uranium project. Purepoint (21%) sat down with its joint venture partners Cameco (39.5%) and Orano Canada (39.5%) to review data and develop the next steps to advance the project.There are three areas of particular interest...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 5. Please click...Read More
The global alumina market has become more sentiment-driven over the past year and knee-jerk reactions have become more common, market sources told Fastmarkets.A significant part of this change was a consequence of the chaos that developed in the market after producer Norsk Hydro was compelled to declare force majeure at its Alunorte alumina refinery in Brazil in March 2018."If I look back, this is...Read More
Nickel premiums worldwide were predominantly lower during the week ending on June 5, with heightened trade tensions pushing nickel briquette premiums in the United States down for the third consecutive week.European nickel premiums held steady while market participants gathered at Fastmarkets' 7th International Nickel Conference in Amsterdam. US briquette premiums weaken Import window in China clo...Read More
The refined nickel market deficit is expected to nearly halve to around 80,000 tonnes this year from almost 150,000 tonnes in 2018, the International Nickel Study Group said on Wednesday June 5. "The nickel market has been in deficit since 2016. This year, the deficit is expected to be smaller than in 2018 at around 80,000 tonnes," Richardo Ferreira, director of market research and statistics, tol...Read More
ArcelorMittal Italia, formerly known as Ilva, will lay off 1,395 workers from its plant in Taranto for a period of 13 weeks beginning in early July, the company said on Wednesday June 5."It's a difficult decision but market conditions are really critical throughout Europe. These are temporary measures [and] steel is a cyclical market," the chief executive officer of ArcelorMittal Italia, Matthieu...Read More
RAPAPORT... On the first anniversary since the launch of Lightbox,Rapaport's Avi Krawitz sat with managing director Steve Coe at the JCK show inLas Vegas. Coe gives his perspective of the industry's response toLightbox, some insight into the brand's approach to the lab-grown-diamonddebate, and its plans moving forward.Image: Steve Coe, a Lightbox necklace, and De Beers'diamond-growing facility nea...Read More
RAPAPORT... JCK presented awards to winners of two design competitionsduring this year's Las Vegas show. Seven jeweler designers received a prize at the LuxuryDesign Awards, honoring designers and manufacturers who are innovative andoriginal, while displaying imagination and excellence in craftsmanship, JCKsaid Monday. Luxury partnered with six jewelry retailers to selectwinners for each cate...Read More
RAPAPORT... Fourteen jewelry designers havereceived the Manufacturing Jewelers & Suppliers of America (MJSA) VisionAward, which this year includes a new category for enamel distinction. The prizes, which honor outstanding creativity, craftsmanship and technological prowess, are given toboth professionals and students, the trade body said Tuesday. Winners receivecash and gift certificates...Read More
The Ministry of Energy, Northern Development and Mines has issued 10 exploration permits to Golden Share Resources (TSXV: GSH) for drilling targets within the Ogoki project and the Kagiami project, located in the Wabassi and Albany River area of the James Bay Lowlands of Ontario, Canada.Ogoki and Kagiami sit 200 kilometres southwest of DeBeers' Victor diamond mine, approximately 150 kilometres sou...Read More
RAPAPORT PRESS RELEASE, June 5, 2019, LasVegas ... Diamond markets are under pressure as profit margins have tightenedand the trade war with China has fueleduncertainty. US jewelry sales arerobust, but the midstream is not profitableenough to support a sustainablesupply chain. The RapNet Diamond Index (RAPI?,,?) for 1-caratdiamonds fell0....Read More
RAPAPORT... The diamond industry must invest in new products andethically sourced natural diamonds to boost profitability and counter thegrowth of synthetics, Martin Rapaport, Chairman of the Rapaport Group, stressedat the annual Rapaport Breakfast in Las Vegas. "The diamond trade is not profitable enough to support asustainable supply chain," Rapaport said in an address to approximately 800d...Read More