Various news sources - national and international - picked up the news that a delegation from the Indonesian Chamber of Commerce (KADIN) had arrived in Israel, and, among others, visited the Israel Diamond Exchange. The Indonesian delegation toured the four-tower diamond exchange complex and met with IDE and other officials. The Indonesian delegation was headed by Mufti Hamka Hassan, Vice Preside...Read More
China's hot-rolled coil prices bounced back on Monday July 15 after the futures market strengthened after the release of economic data for the first half, while expectations of a drop in supply provided additional support.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($559-562) per tonne, widening upward by 10 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 20 yuan per...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Shockwaves from Tsingshan's new stainless steel hub in Indonesia are reverberating across South East Asia and beyond, according to Wood Mackenzie.“Competitively priced exports of Indonesian stainless product have provoked varyin...Read More
RAPAPORT... Michael Hill will hand out between AUD 10 million ($7million) and AUD 25 million (just under $17.5 million) to compensate retail employeesin Australia, after discovering it had been underpaying them. The jeweler had been wrongly applying the pay rates mandatedby the Australian government's General Retail Industry Award document, itadmitted in a statement Wednesday, following a review....Read More
Newfield Resources has progressed with blasting to access an underground mine decline at its Tongo diamond mine, in Sierra Leone.The company has excavated 42 600 m3 of material, with three blasts conducted so far and two blasts remaining, to bring the boxcut to the desired elevation for the portal access to be opened up.AdvertisementOnce blasting and excavation are completed, the boxcut side walls...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Wood Mackenzie's research analysts have over 40 years' experience understanding and forecasting natural resources industry performance across exploration, extraction and production, refining and financial markets.We produce annual, ha...Read More
Finland-focused diamond exploration company Karelian Diamonds on Monday announced that it had conditionally raised £100 000 from a new investor, Martello Holdings.Martello subscribed for 2.5-million new ordinary shares at 4p each – a premium of about 31% to the closing mid-market price of 3.05p a share on Friday.AdvertisementThe subscription shares represent about 6.8% of the shar...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa Diamond Company is on track to report an operating profit for 2019, as production from the Lulo and Mothae diamond mines, in Angola and Lesotho respectively, continues to ramp up.Lucapa on Monday reported that some 10 217 ct of diamonds were recovered during the three months to June, bringing the first half production to 20 505 ct.Advertisement...Read More
Australian miner Mount Gibson Iron shipped a total of 2.93 million wet metric tonnes of high-grade iron ore in the year to June 30, 2019, which was within the company's sales guidance range of 2.7-3.3 million wmt.The iron ore producer had shipped 607,000 wmt of iron ore in the April-June quarter, of which 370,000 wmt consisted of its new high-grade fines mined at its Koolan Island mine in the nort...Read More
The second translocation of elephants from diamond miner De Beers’ Venetia Limpopo Nature Reserve (VLNR), in South Africa, to Zinave National Parks, in Mozambique, has been completed.The first herds of elephants were corralled at the VLNR on June 25, before being transported by road for about 1 700 km, and released at Zinave on June 27.AdvertisementThe final herds arrived at Zinave this...Read More
Turkish steel mills began the week in silence due to a public holiday in the country, sources said on Monday July 15.The Democracy and National Unity Day public holiday in Turkey meant trading activity was paused at the start of the week with many traders not at work.The last verified scrap...Read More
Seaborne iron ore prices resumed their upward trajectory on Monday July 15, amid fears of supply tightness accompanied by a positive outlook on China's overall economy.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.41 per tonne, up $2.12 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.33 per tonne, up $2.12 per tonne. Fastmarkets' ind...Read More
Seaborne coking coal prices softened further on Monday July 15 despite buying activity generated by keen interest from China.A cargo of premium mid-vol hard coking coal was traded at around $186 per tonne cfr China, sources said during the day.This is $6 per tonne higher than the fob Australia price for a cargo of the same brand that changed hands last week. It is also about $4 per tonne lower tha...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumBHP has to invest US$25 million in exploration expenditures and make $2.4 million of cash payments to Luminex over a four-year period to earn its initial 51%. It can then earn an additional 9% interest by sole funding another $10 million of expenditures and making an additional $4.6 million cash payment over a further tw...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumPizarro, a stalwart at Codelco for decades and its head for four years, remained in the post despite a change in government in 2018, testament to his long-standing professional reputation although an unusual decision given the role is often a political appointee.Araneda is a mining civil engineer from the Universidad de...Read More
Seaborne iron ore concentrate and pellet prices fell in the week to Friday July 12 amid generally weaker market conditions after earlier gains.ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao stood at $121.85 per tonne on July 12, down by $3.27 per tonne week on week.The daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $127.94 per tonne ove...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumWhile the company already has the small Vuzel JV property, it is keen to build its position and has done the deals with TSXV-listed QX Metals. The agreements cover the 191sq.Read More
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) has signed a second deal to increase its supply of iron ore to international trading company Glencore.CSN's mining division has agreed to supply an additional 10 million tonnes of the steelmaking raw material to Glencore over the next five years. It will receive a pre-payment of up...Read More
Movements in the ferrous scrap prices around the world were mixed in the week ended Friday July 12, with prices in Asia supported by steady demand and higher offers while prices in the United States and Turkey fell on thin spot trading activity. Turkey sees limited import trades US East Coast exporters see bearish demand Asian import prices up but downtrends possible Monsoon in India reduces spot...Read More
China’s economic growth slowed to 6.2% in the second quarter of this year - in line with expectations and well within Beijing’s target of 6-6.5% growth for 2019 - but market participants continued to focus on the fact that this was the country’s lowest gross domestic product (GDP) growth in nearly three decades.The record low GDP growth comes as the world’s second-largest econo...Read More