RAPAPORT... The United Nations General Assembly (UNGA) has enacted aresolution calling for reforms to increase the effectiveness of the KimberleyProcess (KP), the World Diamond Council (WDC) said. The European Union proposed the resolution at the assembly's73rd session on March 1, with all 193 UNGA members agreeing to it. "We are most heartened by the adoption of the resolution bythe UNGA, not on...Read More
The three-month nickel price trading on the London Metal Exchange continued its upward momentum on Wednesday March 6, while the other base metals prices were mostly lower with continued strength in the dollar index limiting price rallies. Nickel's three-month price has recorded a weekly incline of more than 5% and is keeping above $13,600 per tonne, while open interest on the exchange has pushed h...Read More
Standard & Poors (S&P) issued a report saying that 2019 will be yet another year of elevated retail defaults, above the levels that were seen during the great recession of a decade ago. It noted that a significant number of retailers struggle to operate successfully in the current competitive landscape. While the United States' economy seems to be in reasonably good shape, S&P predicts...Read More
GIA's second annual GIA (Gemological Institute of America) London Jewellery Career Fair will be held on April 5, 11:30 am to 4:15 pm, at the Goldsmiths' Hall, Foster Lane, London EC2V 6BN, for an opportunity to meet gem and jewelry industry recruiters from all over Europe. The event is free and open to the public. "The GIA Jewellery Career Fair is back in London for a second year, and is eve...Read More
Prices for flat-rolled steel imports have moved higher than those for domestic goods in the United States, in a rare inversion of the typical pricing dynamic.That development means imports are not attractive to US buyers, especially those uncertain of whether higher domestic prices seen over the past month are sustainable.US prices are expected to recover, given higher steel prices abroad, ri...Read More
The World Diamond Council has welcomed the adoption of a resolution by the United Nations General Assembly (UNGA) on March 1, which calls for a strengthening of the Kimberley Process (KP), to more effectively sever the link between the illicit transaction of rough diamonds and armed conflict, thereby contributing to the maintenance of international peace and, in particular, security and sustainabl...Read More
Bulawayo24, an online news service, reported that Zimbabwe has agreed with Botswana to start processing its diamonds at the Diamond Trading Company (DTC) in Gaborone. The agreement was reached during a high-level summit of the Zimbabwe-Botswana Bi-National Commission (BNC) in Harare in February. To implement the agreement, DTC diamond experts are to visit Zimbabwe this month. According to the rep...Read More
TSX-V-listed Tsodilo Resources says its BK16 kimberlite project, in the Orapa kimberlite field, in Botswana, is well placed to enter the market once the mine is established.In a presentation published by the company this week, Tsodilo stated that BK16 was already showing similarities to Lucara Diamond Corp’s Karowe diamond mine, in Botswana, as well as Petra Diamonds’ Koffiefontein min...Read More
MCH Group has appointed Bernd Stadlwieser as CEO of the MCH Group. He succeeds Rene Kam, the veteran CEO who resigned after MCH's chief asset, BaselWorld lost close to 40 percent of its exhibitors in 2018. Bernd Stadlwieser has more than 20 years' international professional experience in the watch, jewelry and art business as well as in the fields of business development and digitisati...Read More
European prices for mesh-quality wire rod stayed flat again across the continent in Fastmarkets' price assessments on Wednesday March 6, with levels of demand continuing to disappoint and with almost no business of significant volume reported in the first quarter of the year so far.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod for both Northern and Southern Europe stayed...Read More
The price range for rebar produced and delivered in Northern Europe narrowed upward on Wednesday March 6 with pressure from producers being evident in the market, but very poor overall demand kept a cap on the high end of the range.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe edged up to ?,?540-550 ($611-623) per tonne delivered on Wednesday, from ?,?535-550 per tonne...Read More
Iranian export slab prices dropped in the week ended Wednesday March 6 with bookings done at lower values, Fastmarkets has heard, despite a positive mood in the CIS export slab market due to reduced availability of the material.Offers of Iranian slab were reported at $365-370 per tonne fob Iranian ports. And a 30,000-tonne cargo was sold to a customer in China at $360 per tonne fob, Fastmarkets ha...Read More
The price for rebar produced and delivered in Southern Europe remained flat again on Wednesday March 6, with producers' efforts to pass on higher raw material costs continuing to flounder in the face of poor demand from end-users.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe stayed at ?,?510-520 ($577-589) per tonne delivered on Wednesday, unchanged since mid-January.L...Read More
Demand for flat steel in Turkey failed to improve in February although prices increased, but no further price rises were expected, market participants told Fastmarkets on Wednesday March 6.Local producers have filled their order books until May, they added.The price rises in February resulted from increasing prices for raw materials after the rupture of a tailings dam at Vale's Feij??o iron ore mi...Read More
Eastern promise for PolarXSPONSOREDpolarxAltech ticks boxes on path to production SPONSOREDaltech chemicalsThe mining major signed an agreement with Toronto-listed Freegold Ventures to spend up to US$30 million to earn 70% of the 100sq.km Shorty Creek project near Fairbanks in Alaska.Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipGlobal Atomic's 'transformational discovery' changes everythingSPONSOREDglobal atomic corp"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftCEO Luis Tondo said the latest results exceeded expectations "on man...Read More
The West Coast continues to be the most active US export market for ferrous scrap, with container prices rebounding and rumors surfacing that the docks will be raising prices soon.On the West Coast, the containerized price for an 80:20 mix of No1 and No2 heavy melting scrap (HMS) rebounded to $280 per tonne fas Los Angeles after falling to $275 per tonne previously, defying last week's expectation...Read More
The regulations that govern the Brazilian mining industry are tightening after the recent major accident at one of miner Vale's units, and iron ore producers are slowly adjusting their operations in the country to move toward dry stacking of waste material.This is considered to be safer than the use of traditional tailings dams, such as the one operated by Vale that collapsed on January 25.CSN Min...Read More
Turkish steel producers have continued to book deep-sea scrap to replenish their stock levels despite poor sales of finished and semi-finished steel products, sources said on Wednesday March 6.A steel mill in Northern Turkey booked a Baltic Sea cargo, comprising 9,000 tonnes of HMS 1&2 (80:20) at $319 per tonne, 11,000 tonnes of shredded at $324 per tonne and 9,000 tonnes of bonus at $329 per tonn...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.Index futures were virtually unchanged following release of the February ADP Private Employment report at 8:15 AM EST. Consensus was a drop to 190,000 from 213,000 in January. Actual was a drop to 183,000.Index futures were virtually unchanged following release of the December U.S. Trade...Read More