Russian diamond miner Alrosa has entered into a joint venture (JV) agreement with Zimbabwe national diamond miner Zimbabwe Consolidated Diamond Company (ZCDC) to develop diamond deposits in the Southern African country.The agreement was signed by Alrosa deputy CEO Vladimir Marchenko and ZCDC chairpersonn Killian Ukama in the presence of Zimbabwe President Emmerson Mnangagwa and Alrosa CEO Sergey I...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 oreRio Tinto, 190,000 tonnes of 62% Fe Pilbara Blend fines, traded at the August average of a 62% Fe index at a premium of $5.50 per tonne, laycan August 5-14.BHP, Beijing...Read More
Seaborne coking coal prices remained largely muted on Thursday July 18, with trading activity confined to the cfr China segment despite mounting concerns about import restrictions at ports in the country.Two cargoes of premium mid-vol hard coking coal were traded at around $185 per tonne cfr China, sources told Fastmarkets during the day. The cargoes were heard to have been sold by traders despite...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumIts 10,000 tonnes per day beneficiation plant is the first large-scale plant to operate in the country. Within six months, the company plans to increase this to 30,000tpd and later to 60,000tpd.Mirador will annually produce 11Mt of copper concentrates containing 137 million pounds of copper, 34,000oz of gold and 394,000o...Read More
Fastmarkets will change a portion of the specifications of its fob DBCT and cfr Jingtang hard coking coal indices to align with those for materials typically sold in this segment of the seaborne spot market.These changes incorporate feedback obtained from the market during a month-long consultation. They will now be applied from Thursday August 1, instead of Friday July 19 as stated in the previou...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumMVC produced 13.3 million pounds of copper at a cash cost of US$1.97/pound, and 0.2 million pounds of molybdenum, in the June quarter. The results were below forecast "as a result of continued low plant recoveries during the quarter"."In Q2-2019, as required by the mining plan sequence, Cauquenes material was still being...Read More
Australia's mining industry was born at Glen Osmond, now an eastern suburb of Adelaide, after the discovery of lead and silver in 1841. Within five years, seriously rich copper finds were made at Kapunda and Burra, with the latter supplying 5% of the world's copper for more than a decade. Gold fever also swept through the Adelaide Hills, which hosted Australia's first gold mine (the Victoria mine)...Read More
Optimism among China's hot-rolled coil exporters led to them resisting the pressure to lower their prices on Thursday July 18 despite a retreat in the domestic market.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($564-567) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,840-3,860 yuan per tonne, widening downward by 10 yuan per tonneSpot prices weakened across the country with t...Read More
Misplaced optimism seems to be driving gains in the London Metal Exchange’s three-month nickel price, especially amidst weak global economic growth and ongoing trade tensions between the United States and China; granted there is growing concern over nickel supply from Indonesia but this remains a long-term play.Fresh global economic jitters and escalating US-China trade tensions have negative...Read More
China's domestic rebar market lost its upward momentum on Thursday July 18 amid declining futures, with expectations of a supply drop ahead of the country's National Day celebrations in October providing some support.Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($577-582) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,900-3,930 yuan per tonne, unchangedSteelmaking restrictions...Read More
Nickel's three-month price on the London Metal Exchange increased during morning trading on Thursday July 18, with its price action continuing to ascend amid a continued drawdown of LME stocks. Reaching an intra-morning high of $14,910 per tonne, nickel futures are now making a significant approach toward $15,000 per tonne, a level it has not surpassed since June 2018.Turnover in nickel remained h...Read More
Turkey's Kar Madencilik has started producing primary pure magnesium metal (grade min 99.95%) at a smelter rented from Esan Eczacibasi, now called Kar Magnesium Smelter. Kar Madencilik entered an agreement to rent the smelter in February 2018 for a period of 10 years. The smelter, covering a 30,000 square meter closed area and consisting of seven different units, stopped production at the end of 2...Read More
Misplaced optimism seems to be driving gains in the London Metal Exchange's three-month nickel price, especially amidst weak global economic growth and ongoing trade tensions between the United States and China; granted there is growing concern over nickel supply from Indonesia but this remains a long-term play.Fresh global economic jitters, escalating US-China trade tensions negatively affect equ...Read More
Key data from the Wednesday July 17 pricing session in Shanghai.Key driversThe price of cobalt metal in China stabilized this week amid rising spot buying interest following a wave of speculative buying on the Wuxi Stainless Steel Exchange in the week ended July 12. The price of cobalt metal in China's domestic market fell to a multi-year low,...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were down unchanged in pre-opening trade. Index futures were virtually unchanged following release of economic news released at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 215,000 from downwardly revised 208,000 last week. Actual was 216,000. Consensus for the July Philly Fed Index was an increase to 5.0...Read More
Domestic stainless steel prices in China picked up over the past week following a strengthening of the nickel market.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 14,700-14,900 yuan ($2,137-2,166) per tonne including value-added tax for the week ended Wednesday July 17, up 400-600 yuan per tonne fro...Read More
When it comes to retirement destinations, you can find an endless number of lists ranking the best and worst spots to live out your golden years. My take is it really depends on how you want your retirement to look. Of course you want to stretch your dollar as far as it will go, but you're also not going to do it at the expense of losing friends and family.A survey by Merrill Lynch and Age Wave, f...Read More
Canada hosts many specialized suppliers that provide vital goods and services to keep the industry going. Here are 10 of the most exciting firms.DSI UndergroundLuxembourg-headquartered DSI Underground specializes in underground mining and tunnelling products, including dynamic anchor systems, injection resins, pumpable injection chemicals and forepoling systems.The firm offers comprehensive servic...Read More
The following is an edited transcript of remarks made by Franco-Nevada (TSX: FN; NYSE: FN) CEO David Harquail at The Northern Miner's Canadian Mining Symposium held at Canada House in London, U.K., on May 22, 2019, followed by a question and answer session. For the full audio, listen to Episode 143 of The Northern Miner Podcast.__________________________David Harquail: In terms of our business pri...Read More
Australian Vanadium targets growing energy-storage and steel marketsSPONSOREDaustralian vanadiumSaturn's high-grade discovery gives Apollo Hill a rocketSPONSOREDsaturn metalsGolden Mile goes back to the futureSPONSOREDgolden mile resources'When top miners commit to an aspiration, that does trickle down'SPONSOREDdeloitteThe idealised goal of a budding miner is to create a project that i...Read More