The Democratic Republic of Congo (DRC) has lifted a ban on the export of cobalt and copper concentrates imposed in February but maintained the threat of its future enforcement. In a letter to the National Federation of Enterprises (FEC) seen by Fastmarkets and dated March 20, Minister of Mines Henri Yav Mulang said the government will review every six months whether to reimpose the ban. "I would l...Read More

Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday March 21* Copper -$159.94 (-1,070.61 yuan) Aluminium -$299.04 (-2,001.68 yuan) Zinc -$200.4 (-1,339.65 yuan) Nickel -$273.72 (-1,832.21 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE...Read More

In the United States flat-rolled steel market, prices for imported material remain too close to those for domestic products to make offshore buys attractive, market participants told Fastmarkets AMM.The gap between domestic and foreign prices might appear to make offshore deals compelling at first glance - but not once widespread discounts to mill list prices are taken into account, sources e...Read More

Turkish rebar and wire rod export prices remained stable over the past week with sluggish demand for rebar in the country's export markets, sources said on Thursday March 21.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $490-500 per tonne fob on actual weight basis on March 21, unchanged week on week. Turkish steel producers have continued to offer material at around $50...Read More

Domestic rebar and wire rod prices in Turkey have inched up in line with the weakening lira over the past seven days, while demand was still slow, sources said on Thursday March 21.Fastmarkets' weekly price assessment for domestic rebar was TRY3,200-3,263 ($586-597) per tonne ex-works, including 18% VAT, slightly up from the TRY3,180-3,215 per tonne of last week.The domestic rebar price in the Izm...Read More

China's domestic hot-rolled coil market edged up further on Thursday March 21 even though trading activity has started to decline, while export prices are expecting to weaken on inactivity.DomesticEastern China (Shanghai): 3,870-3,890 yuan ($577-580) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,830-3,850 yuan per tonne, up 20 yuan per tonneDemand for HRC sold at the existing 16% valu...Read More

The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More

"Alrosa will assess the quality of Zimbabwe's diamond reserves over the next six months but would only start mining if it can take a majority stake in such a project, the company's chief executive said on Monday," Alrosa's CEO, Sergey Ivanov, said to Reuters "Of course we'll only be ready to participate in projects in cases where we can have management control and operational control of the assets...Read More

The Southern Times of Africa reported that Botswana expects mineral revenue for the 2019/20 fiscal year to drop due to a decline in royalty dividends. Eric Molale, Botswana's  minister of mineral resources wrote in a paper he presented to the Batswana parliament "that global diamond demand was showing signs of slowing down." Molale reported that retail jewelry sales had dropped during the las...Read More

Mining equipment manufacturer and supplier Becker Mining South Africa’s short turnaround time for the manufacturing of rope attachments provides the company with a competitive edge to take on large projects in the local mining sector, Becker Mining SA capital senior GM Tom Searle tells Mining Weekly.The company received an order for the manufacture and supply of rope attachments for an under...Read More

Graff Diamonds will be showcasing no less than three luxury watches, all set with fancy vivid yellow diamonds at BaselWorld 2019. The "Round Graff Fancy Vivid Yellow Diamond watch" is set with 211 diamonds weighing 59.25 carats. The "Graff Fancy Vivid Yellow Diamond Watch" has an oval dial. The second piece is set with 60 diamonds weighing 25.85 carats. The third yellow diamond watch will only be...Read More

PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company has reported a 90% increase in its diamond resource carats at its Lulo operation, in Angola, on the back of an independent valuation.The company on Thursday told shareholders that external consultants Z Star Mineral Resource Consultants has estimated that the in-situ resource at Lulo stood at 80 400 carats.AdvertisementThis reso...Read More

Luxury Daily is organizing the third annual Women in Luxury 2019 conference, to be held Thursday, May 9 at the UBS Building, 1285 Avenue of the Americas, New York.  Under the header of Empowered Affluence, the event "is designed to reflect the expertise and smarts of women leaders in the luxury business." The topics under discussion include: ?EUR? An indepth examination of the emerging w...Read More

Reuters reported that the precious metal palladium had passed the 1.600 per ounce mark for the first time in history this week. The significant leap in value came in the wake of the news that Russia is planning to ban the export of precious metals scrap.  fuelled concerns over an already supply-constrained market. "There have been rumours that Russia would restrict exports of some scrap mate...Read More

Alrosa published the results of its special size rough diamond auction held during the recent Hong Kong International Diamond, Gem & Pearl Show. The company sold 101 stones at a total weight of 1,829 carats that generated a revenue of $10.5 million. "The auction was held as part of one of the largest jewelry exhibitions. From year to year, global diamond market participants from around the wor...Read More

International nonprofit organisation Global Witness (GW) has welcomed the World Diamond Council’s (WDC’s) response to the government-led Kimberley Process (KP) certification scheme, but says more needs to be done.The organisation pointed out in a release that the WDC had, in recent weeks, issued statements that acknowledge serious human rights concerns in the diamond mining sector, whi...Read More

Eastern promise for PolarXSPONSOREDpolarxAltech ticks boxes on path to production SPONSOREDaltech chemicalsThe holes, drilled 500m apart, show that the high-sulphidation epithermal deposit forming the bulk of the mineral resource which supports the project pre-feasibility study (PFS) is underlain by porphyry copper-gold mineralisation to depths of over 1,000m below surface."These two holes confirm...Read More

Eastern promise for PolarXSPONSOREDpolarxAltech ticks boxes on path to production SPONSOREDaltech chemicalsBut the obvious resources have largely been picked clean and now the hunt for tonnage takes explorers to (mostly) former conflict zones, remote deserts and deep underground.Read More

Eastern promise for PolarXSPONSOREDpolarxAltech ticks boxes on path to production SPONSOREDaltech chemicalsResponding to media speculation in relation to the deal, Aeris said the consideration comprised $525 million cash and $50 million of shares.The cash component could involve $250-$300 million of debt and equity of $185-$240 million, with a potential silver stream of $35-$40 million also in the...Read More

Physical iron ore markets on Thursday March 21 were relatively unfazed by news of potentially more supply disruptions from Vale's Brazilian operations and from cyclone-hit Australia. MB 62% Fe Iron Ore Index: $84.49 per tonne cfr Qingdao, up $0.19 per tonne. MB 62% Fe Pilbara Blend Fines Index: $83.61 per tonne cfr Qingdao, up $0.19 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $86.64 per tonne...Read More