Gem Diamonds announced it sold a 13.33 carat pink diamond recovered at the Letseng mine in February 2019 at a tender in Antwerp for US$ 8,750,360. This represents a record dollar per carat price of US$ 656,933 for a Letseng diamond. Earlier this week, the firm published its year-end results for 2018,reportin a revenue of $267.3 million, compared to $214.3 million in 2017. Gem Diamonds It recovered...Read More
The AIGS Lab has launched an app that can verify AIGS gemstone reports, creating additional protection for customers. The app can verify the following AIGS reports: AIGS Master Gemstone Report (MGR and MGRS), AIGS Full Report, AIGS Diamond Report, AIGS Master Jade Report (MJR), and AIGS Brief Report. Customers who download the app may scan their report in order to verify that it is genuine. Third-...Read More
Alkane maps own path to world-class critical metals producerSPONSOREDalkane resourcesThe company said optimising mining and processing represented some 52% of the synergies, or $250 million a year. Within this, integrated mine planning will save $140 million a year, some 29% of the total.It will prioritise high-grade underground ore feed through the Goldstrike and Carlin Mill 6 roasters, minimisin...Read More
"Tshisekedi would be a relatively positive figure for mining investment"SPONSOREDverisk maplecroftHudbay said it would buy United Copper & Moly's 7.95% stake for $45 million in cash upfront and three annual payments of $10 million from July 2022.President and CEO Alan Hair said the simplified ownership structure improved Hudbay's financial flexibility to develop Rosemont and it hoped...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 transactions: iron oreIron oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at $89.50 per tonne cfr China, laycan April 10-19.Vale, Beijing Iron Ore Trading Center (Corex), 170,000 tonnes of 65% Fe Iron Ore Carajas, traded at $98...Read More
Iron ore prices jumped on Thursday March 14 amid a positive destocking of steel products in China and signs of loosening restrictions on steelmaking operations.MB 62% Fe Iron Ore Index: $87.26 per tonne cfr Qingdao, up $2.48 per tonne. MB 62% Fe Pilbara Blend Fines Index: $86.38 per tonne cfr Qingdao, up $2.48 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $89.50 per tonne cfr Qingdao, up $2.80...Read More
Forward cargoes of seaborne coking coal continued to fetch lower prices on Thursday March 14, with some buyers in China saying that they would take a wait-and-see approach amid the emergence of what appears to be a downtrend.On the Global Coal trading platform, a June-laycan cargo in the branded segment of premium hard coking coal was traded at $202.40 per tonne fob Australia, lower than the trans...Read More
Import prices for steel billet in Southeast Asia moved up on Thursday March 14, amid an uptick in trading activity and higher scrap values, market participants said.Fastmarkets' daily import price assessment for billet in Southeast Asia was $485-495 per tonne cfr Manila on Thursday, up $5 per tonne from $480-490 per tonne cfr on Wednesday. Numerous deals involving Malaysian billet were concluded i...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday March 14, with copper, nickel, lead and zinc down by an average of 0.4%, while lead and tin were up by 0.1% 0.4% respectively.Three-month copper was recently quoted at $6,444 per tonne, down by 0.3% compared with Wednesday’s close at $6,466 per tonne.Volume was below average, with 5,913 lots traded o...Read More
Base metals traded on the London Metal Exchange were almost universally trading down during the morning session on Thursday March 14 due to continually weakening data from China."We have Chinese industrial production slowing down and Chinese car sales for February down 14% [while] Chinese consumer buying has pretty much dried up," Malcolm Freeman of Kingdom Futures said. Only the three-month LME a...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures were virtually unchanged following release of the Weekly Initial Jobless Claims report. Consensus was an increase to 225,000 from 223,000 last week. Actual was 229,000.Dollar General dropped $6.69 to $113.99 after reporting lower than consensus fourth quarter earnings. The comp...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday March 14, with copper, nickel, lead and zinc down by an average of 0.4%, while lead and tin were up by 0.1% 0.4% respectively.Three-month copper was recently quoted at $6,444 per tonne, down by 0.3% compared with Wednesday's close at $6,466 per tonne.Volume was below average, with 5,913 lots traded on LME...Read More
Exchanges have an important role to play in the growing push for the use of Environmental, Social and Governance (ESG) criteria in investing, the chief executive officer of the London Metal Exchange said. Matthew Chamberlain said that the lack of a global regulatory body policing ESG criteria meant that sometimes it falls to exchanges and other market infrastructure players to step up and use thei...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Personal debt is the highest it’s ever been in the United States but a large majority of Americans are dealing with it responsibly. According to LendingTree, 95% of borrowers living in 100 of America's largest cities pay their bills on time. Researchers used credit reports from the first quarter of 2018 from more than nine million of its users. They ranked the largest 100 American cities by...Read More
Today I’m going to show you how to get 27% off a basket of blue chip stocks.There is no catch here.You pay only 73 cents on the dollar. Everyone else pays the full buck.It’s a deal that sounds too good to be true... I know.But it isn’t.This Opportunity is a No-Brainer BargainThe basket of blue chip companies that I’m referring to consists of exactly ten stocks.These are the...Read More
South African state power utility Eskom has implemented load shedding for the first time this month amid lingering power constraints, sparking predictions of ferro-chrome price spikes if the situation deteriorates. Load shedding - controlled power outages - were last implemented in mid-February and were reported to have affected large industrial power users, including ferro-chrome smelters. After...Read More
Domestic stainless steel prices in China dropped over the past week , reflecting weakness in nickel futures, while demand for finished products was stable.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,700-15,200 yuan ($2,191-2,265) per tonne including value-added tax for the week ended Wednesday March 13, down 300-400 yua...Read More
Colorado School of Mines has named John Bradford its next vice provost of global initiatives and dean of earth resources and environment programs.Bradford, professor and head of the Geophysics Department, will assume the new role July 1. As one of three vice provost and deans in the Office of Academic Affairs, Bradford will be responsible for strategic initiatives related to international program...Read More
Morgan Bazilian, director of the Payne Institute for Public Policy at Colorado School of Mines, was recently featured in the Houston Chronicle discussing transparency in the mineral markets.From the article:Renewable energy generators and electric vehicle makers are spurring demand for minerals like lithium, cobalt and nickel for battery storage. But there are no transparent mineral trading sites...Read More