RAPAPORT... Lucapa Diamond Company has raised its revenue guidance by up to 27% for the full year amid continuing positive market conditions.The Australia-based miner expects revenue for 2021 to be between AUD 66 million ($48.9 million) and AUD 71 million ($52.6 million), compared to the AUD 50 million ($37 million) to AUD 56 million ($41.5 million) it forecast in May, it said Thursday. The rise r...Read More

RAPAPORT... Sotheby's garnered $50 million from its Hong Kong sale Tuesday, even as several big-ticket items failed to find buyers.A ring featuring an emerald-cut, 3.01-carat, fancy-vivid-blue, VS1-clarity, type IIb diamond  was the top seller, Sotheby's told Rapaport News Wednesday. That piece, which also contains two modified triangular brilliant-cut, fancy-pink and fancy-intense-...Read More

(IDEX Online) - A ring with diamonds and a giant 8.11-ct pigeon's blood ruby - so-named because of its vivid crimson hue - is to be sold by Christie's Hong Kong with a high estimate of $4.5m.It will lead the Magnificent Jewels Auction on 28 November.The sale features additional high-value pigeon blood rubies - a pair of earrings with gems weighing 5.19-cts and 5.03-cts, and a high estima...Read More

(IDEX Online) - A diamond tech company is introducing laser inscriptions below the stone's surface, to deter fraud.That means the unique identifier can't be removed without dramatically altering the stone.US-based PhotoScribe Technologies says the subsurface technology it's using was developed some years ago but was "a solution looking for a problem".Its newly-launched PermaScribe p...Read More

Discounts for some copper scrap grades fell this week while demand remained robust, whereas some red brass scrap prices softened over the week.The copper scrap market is "in balance," a seller said. A second seller said he is yet to see the impact of Malaysia's scrap import regulation changes in the domestic flow of material."Malaysia has enough material in the ports to last them months," the seco...Read More

Diversified miner South32 is to buy a 45% interest in the Sierra Gorda copper mine in Chile from Sumitomo Metal Mining, the Australian company said on Thursday October 14.The acquisition is consistent with its strategy to reshape South32's portfolio for a low-carbon future, it said, producing materials critical for global decarbonization and the energy transition.Sierra Gorda, located in the Antof...Read More

The EU and its member states must do more to assist domestic metals producers after the European Commission this week issued its "toolbox" to tackle a surge in energy prices that was forecast to last through the coming winter, according to regional non-ferrous metals industry body Eurometaux.The EC on Wednesday October 13 proposed short-term national measures that would include state aid for compa...Read More

Brazil-based multi-metal producer Nexa Resources has received an operating license for its Aripuan?? zinc-lead-copper project in Brazil, with commercial output scheduled to start next year, the company said on Wednesday October 13.According to Nexa, the license was granted by the Mato Grosso state environmental secretariat, Sema, on October 7. Mato Grosso is a state in the Brazilian midwestern reg...Read More

Bullish sentiment on Thursday October 14, driven by Nyrstar's announcement of production cuts, has pushed the zinc price on the Shanghai Futures Exchange to its highest level since 2019.The SHFE November zinc price surged to its daily upward limit (4%) and finally closed at 25,700 yuan ($3,994) per tonne on Thursday.The surge came after the major zinc producer Nyrstar announced that it would be cu...Read More

Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) has announced measures intended to reduce its consumption of natural gas after an increase in global prices.The company did not say whether the measure would affect its steel production, but it planned to gradually replace natural gas with gas generated in the steelmaking process.Ahmsa is a major steel producer and ferrous scrap consu...Read More

Turkish billet prices increased during the week ended October 14 because of the upturn in imported scrap costs, market participants told Fastmarkets.Turkish deep-sea scrap import prices have increased in the past week due to limited supply and firm demand. The most recent deep-sea scrap import trade was reported on Wednesday October 13, when a steel mill in the Izmir region paid $480 per tonne cfr...Read More

Domestic prices for hot-rolled coil in Northern Europe and Italy remained fairly stable on Thursday October 14 due to limited trading activity, sources have told Fastmarkets.European mills have been trading reduced volumes of coil and mainly holding back from making big deals. Prices have been under downward pressure from weak automotive sector demand, high stock levels at distributors and substan...Read More

Imported billet prices into Egypt increased in the week to Thursday October 14, but appetite for imports was still weak because of the "Advance Cargo Information" system (ACI), sources told Fastmarkets.The ACI system has been in effect since October 1 for all imports to Egyptian seaports. ACI is a World Customs Organization protocol that provides real-time information on transactions and operation...Read More

Domestic rebar and wire rod prices increased sharply in the week ended October 14 due to rising scrap costs and a weaker lira, sources said.Turkish deep-sea scrap import prices increased in the past week due to limited supply and firm demand from Turkish steelmakers. The most recent deep-sea scrap import trade was reported on Wednesday October 13, when a steel mill in the Izmir region paid $480 pe...Read More

Turkish long steel export prices increased sharply on rising imported scrap costs, sources told Fastmarkets on Thursday October 14.Turkish deep-sea scrap import prices have been increasing in the reported week due to limited supply and firm demand. The most recent deep-sea scrap import deal was reported on Wednesday, when a steel mill in the Izmir region paid $480 per tonne cfr for 35,000 tonnes o...Read More

The new resource is 39.1 million tonnes grading 1.20% copper, 2.16% zinc, 0.41 grams per tonne gold and 14g/t silver for a 2.04% copper equivalent containing 1.03 billion pounds copper, 1.Read More

3 things that help keep capital projects on trackSPONSOREDproudfootAmerican Pacific building US copper positionSPONSOREDamerican pacific miningConcession and pre-construction accelerates world class Potash MineSPONSOREDhighfield resourcesAntipa demonstrates high CalibreSPONSOREDantipa mineralsThe Land Use Planning Commission (LUPC) of the Department of Agriculture, Conservation & Forestry of M...Read More

Owned 55% by Polish miner KGHM, Sierra Gorda is an open cut operation that's currently milling ore grading about 0.Read More

There was a mixed outcome in settlement negotiations for domestic steel scrap deliveries to UK steelmakers in October, with suppliers resisting downward pressure from consumers because of firm export markets, trade sources said on Thursday October 14.Scrap suppliers won increases across the board for low residual and clean grades of scrap, with rollovers agreed in contracts for other grades assess...Read More

Turkish steel mills are continuing to book deep-sea scrap at higher prices, market participants told Fastmarkets on Thursday October 14.A steel mill in the Iskenderun region booked a US cargo at $486 per tonne cfr on an HMS 1&2 (80:20) basis. However, the cargo composition was not clear at the time of publication.The previous deep-sea transactions, on Wednesday October 13, were concluded at $480 p...Read More