JOHANNESBURG (miningweekly.com) – Mineral Resources Deputy Minister Godfrey Oliphant has urged diamond industry participants to remain committed to efforts to grow and sustain the industry in South Africa.Speaking at the South African Diamond Producers Organisation (Sadpo) conference last week, he said this would yield positive outcomes that would move the South African diamond industry for...Read More

The Debswana Diamond Company (Debswana) on Monday announced the start of its Cut-9 project, which is aimed at extending the life of the Jwaneng mine, in Botswana, to 2035.The project is expected to yield an estimated 53-million carats of rough diamonds from 44-milllion tonnes of treated material.AdvertisementDebswana – a joint venture between the government of Botswana and De Beers Group &nd...Read More

RAPAPORT... Sales of higher-quality stones and an increased average price drove a spike in Alrosa's profit and revenue in 2018.Profit increased 15% to RUB 90.4 billion ($1.39 billion),while revenue climbed 9% to RUB 299.7 billion ($4.62 billion), the miner saidlast week. The company's diamond sales jumped 12% to RUB 278 billion ($4.29billion), despite a 12% decrease in sales volume to 26.4 mi...Read More

Stainless steel scrap prices in the United States hit a wall this week as recent growth in the London Metal Exchange's nickel cash contract cooled off, sources told Fastmarkets AMM."I have my doubts that prices will continue their upward trend, and I am not as concerned about a quick retreat to the downside either," one dealer source said. "Demand is steady, supply is not excessive and export buyi...Read More

The United States' ferrous scrap export market has continued to show resilience, with some docks raising buying prices along the East and West Coasts while container prices held steady.On the West Coast, docks raised prices by $10 per gross ton, sources confirmed, while  the containerized price for an 80:20 mix of No1 and No2 heavy melting scrap (HMS) was steady at $285 per tonne fas Los Ange...Read More

Turkish steel producers have continued to stay back from the deep-sea scrap markets due to sluggish demand for finished steel and the firmness of the offers from scrap merchants, sources said on Wednesday March 20.Offers for HMS 1&2 (80:20) grade material from the United States remained at $330 per tonne cfr, but mills were not willing to pay such high prices, Fastmarkets was told.Besides, the wea...Read More

Iron ore prices fell on Wednesday March 20 after Brazilian miner Vale announced it has been given the go-ahead to restart operations at its Laranjeiras tailings dam in Minas Gerais state.MB 62% Fe Iron Ore Index: $84.30 per tonne cfr Qingdao, down $2.93 per tonne. MB 62% Fe Pilbara Blend Fines Index: $83.42 per tonne cfr Qingdao, down $2.93 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $86.16 p...Read More

The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Global Ore, 170,000 tonnes of 65% Fe Iron Ore Carajas, traded at the May average of the Fastmarkets MB 65% Fe Iron Ore Index at a premium of $0.40 per tonne, laycan March 25-April 3.BHP, Global Ore, 90,000 tonnes of 62.5%...Read More

Trading in the seaborne coking coal spot market remained largely muted on Wednesday March 20 despite the emergence of slightly lower offers.A top Australian brand with a laycan of April 20-29 was sold to an end user in northern China at $212 per tonne cfr China, sources told Fastmarkets. The transaction was heard after the cut-off time for Fastmarkets' indices, and as such was not included in the...Read More

The United States' copper market was at a standstill during trading on Wednesday March 20 morning, with a stronger dollar adding pressure to the complex. The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched down 0.15 cents to $2.9215 per lb.The dollar index was trading at 96.46, up 0.07%. Over the past few sessions, the market has entered a consolida...Read More

Import prices for stainless steel in East Asia edged down again over the past week, with the downtrend in nickel contributing to a reduction in trading activity. Buyers remained in wait-and-see mode because of the nickel situation, while some sellers were willing to accept lower prices to secure more orders, sources said.Fastmarkets' weekly import price assessment for benchmark 304 stainless...Read More

Eastern promise for PolarXSPONSOREDpolarxAltech ticks boxes on path to production SPONSOREDaltech chemicalsModern mining had barely scratched the surface of the significant mineral endowment held in this developing region, a recent PDAC 2019 forum heard.Read More

Zinc's three-month price on the London Metal Exchange was higher during morning trading on Wednesday March 20, maintaining upward momentum above $2,800 per tonne amid slow zinc output in China. Total LME zinc stocks remain at their lowest level since 2008 at 58,150 tonnes, with on-warrant material at 44,200 tonnes. The three-month price reached its highest level since July 2018 at just under $2,90...Read More

Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Wednesday March 20.The exceptions were copper and tin prices that were both down by 0.1%, with copper at $6,454 per tonne, compared with $6,459 per tonne at Tuesday’s close. The rest were up by between 0.2% for aluminium and 0.6% for both zinc and lead. Volume was average, with 6,563 lots t...Read More

Three-month base metals prices on the London Metal Exchange were for the most part firmer this morning, Wednesday March 20.The exceptions were copper and tin prices that were both down by 0.1%, with copper at $6,454 per tonne, compared with $6,459 per tonne at Tuesday's close. The rest were up by between 0.2% for aluminium and 0.6% for both zinc and lead. Volume was average, with 6,563 lots traded...Read More

The following Fastmarkets minor metals prices changed on Wednesday March 20:Antimony MB free market regulus, $/tonne: $7,400-7,700 per tonne from $7,500-7,800Antimony MMTA standard grade II, $/tonne: $7,300-7,600 per tonne from $7,400-7,700Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 45,000-46,000 yuan per tonne from 46,000-46,500 yuanCobalt...Read More

Chinese silicon market participants are downplaying the effect of a planned 10% reduction in electricity prices on silicon prices despite electricity accounting for around 40% of silicon production costs in the country. Chinese Premier Li Keqiang on March 5 announced a 10% reduction in average electricity prices for industrial users in a move aimed at reducing manufacturers' production costs. The...Read More

U.S. equity index futures were mixed this morning. S&P 500 futures were up 1 point in pre-opening trade. Investors were quiet prior to results of the FOMC meeting to be released at 2:00 PM EDT.The Canadian Dollar slipped 0.06 to 74.99 cents U.S. following release of the Federal Budget after the close yesterday.FedEx plunged $12.46 to $168.95 after reporting lower than consensus fiscal third qu...Read More

Turning the big 4-0 with nothing in the bank for retirement isn't ideal but it's reality for a lot of Americans today.The Employee Benefits Research Institute reports that 37% of all employees age 35-44 and 34% of employees age 45-54 have less than $1,000 saved for retirement. If you fall into this camp, take comfort in knowing you're not alone. But realize you have a big hill to climb if you want...Read More

If there’s one text you don’t want to receive from your teen driver, it’s this one:“Hey Dad, give me a call. I just got in an accident and hit a Porsche”You better believe I called David right away. Not because I was worried about the Porsche or the expense at all. I wanted to know that my son was alright!Fortunately, no one was hurt. The Porsche stopped suddenly when...Read More