RAPAPORT... The continued operation of Firestone Diamonds is in question amid an extended shutdown of its mine in Lesotho and heavy debt.The miner will keep its Liqhobong deposit closed until it can work out a deal to restructure the more than $80 million in debt it owes ABSA bank, it told Rapaport News Wednesday."We are in discussion with our debtholders to restructure our balance sheet, which is...Read More
Prices for steel hollow sections in Europe have moved upward on continued pressure from the price and availability of feedstock materials, sources told Fastmarkets on Wednesday January 13.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?820-850 ($998-1,034) per tonne on Wednesday, up from ?,?800-820 per tonne one week before.Producers have stru...Read More
RAPAPORT... Alrosa has received approval to sell rough diamonds to Russia's state depository, Gokhran, this year, enabling the miner to offload inventory should the market deteriorate.The company did not sell goods to Gokhran in 2020, as the industry situation improved in the second half of the year, an Alrosa spokesperson told Rapaport News this week. However, the government has given the mi...Read More
Iran's export prices for steel slab and billet remained stable over the week to Wednesday January 13, with about 30,000 tonnes of billet sold during the review period, sources told Fastmarkets.More deals were expected to be done later in the week, but most market participants did not expect any price increases because of the slowdown in the rate of global price rises.The sharp uptrend in global st...Read More
RAPAPORT... The Gemological Institute of America (GIA) has introduced a classification report for unmodified cultured akoya, South Sea and Tahitian pearls.The GIA Cultured Pearl Classification Report includes the size, shape, color, luster, surface, nacre and matching aspects of the jewel, known as the GIA's 7 Pearl Value Factors, the institute said Tuesday. It will also feature a digital image of...Read More
(IDEX Online) - Alrosa sold $521.6m of rough and polished in December, buoyed by the record-breaking Spirit of the Rose diamond, disposal of accumulated stock and strong midstream demand.The state-owned Russian miner acknowledged today that its busiest month of the year was a one-off, and predicted sales in January would be more in line with usual expectations. December's sales were up a...Read More
(IDEX Online) - The GIA has introduced classification reports for cultured pearls.They are based on its 7 Pearl Value Factors - size, shape, color, luster, surface, nacre and matching - and include digital images. The Gemological Institute of America's new service is only available for the three major types of cultured pearls, Akoya, South Sea and Tahitian pearls.It says up t...Read More
Flat steel prices in the Turkish domestic and export market were mostly unchanged in the first full week of 2021 after the festive holidays, while local producers were offering material with long lead times, which buyers were hesitant to accept, sources told Fastmarkets.Domestic pricesMarket activity was slow during the week to Friday January 8 because it was the first week of 2021 and some countr...Read More
RAPAPORT... Sales of rough at BlueRock Diamonds increased in 2020 as the miner increased production at its Kareevlei deposit in South Africa.Sales volume rose 29% to 16,290 carats for the year, BlueRock said Tuesday. In addition, the miner sold goods in December 2020, but it did not hold a sale for the same month in 2019. Meanwhile, the average price dropped 29% to $295 per carat. The miner produc...Read More
(IDEX Online) - Debswana has reportedly pulled the plug on a $1.3bn contract to extend the life of its Jwaneng mine, in Botswana, and will carry out the work itself.The company, jointly owned by De Beers and the Botswana government, terminated the deal with Australian mining contractor Thiess and a local partner, according to a Reuters news report. Debswana has given no reason for cancelling...Read More
The price of steel H-beams in Europe has jumped this week, with producers returning to the market after pausing their offers ahead of the Christmas holiday break due to volatile market conditions, sources told Fastmarkets on Wednesday January 13.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?750-770 ($912-937) per tonne on Wednesday, up from ?,?70...Read More
Domestic prices for steel mesh-quality wire rod in the north of Europe unexpectedly surged in the week to Wednesday January 13, amid sharp increases in feedstock costs and persistent supply tightness, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe rose by ?,?45-70 per tonne, to ?,?675-700 ($821-851) per tonn...Read More
The steel mesh-quality wire rod market in the south of Europe moved up in line with what sources had expected this week, with short availability and expensive scrap driving prices, market participants told Fastmarkets on Wednesday January 13.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe was ?,?650 ($791) per tonne on Wednesday January 1...Read More
The Turkish deep-sea markets remained largely silent on the third working day of the week, but with sentiment beginning to turn negative, sources said on Wednesday January 13.After a number of steel scrap cargoes were booked at the end of last week, the mills stepped back from deep-sea bookings."The number of offers is increasing, especially from US merchants. I think this might be a sign of a dow...Read More
Look beyond market approach to project valuations: van ZylLeadershipNeo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesThe ramp-up was hobbled by COVID-19 impacts last year and the need for a geotechnical review, with the company striking deals...Read More
Seaborne coking coal prices in the fob market were higher across the board on Wednesday January 13 following a transaction sealed at a higher price. Fastmarkets indices Premium hard coking coal, fob DBCT: $114.38 per tonne, up $10.39 per tonne Premium hard coking coal, cfr Jingtang: $208.95 per tonne, up $0.76 per tonne Hard coking coal, fob DBCT: $102.29 per tonne, up $7.98 per tonne Hard coking....Read More
Neo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesDecade of performance: Pitram delivers diamond standard for Argyle diamond mineSPONSOREDmicromineThe PEA will consider potential development options for the various deposits—which include...Read More
The seaborne iron ore lump premium rose on Wednesday January 13, supported by firm demand and limited supply, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $170.11 per tonne, down $2.56 per tonne 62% Fe low-alumina fines, cfr Qingdao: $170.90 per tonne, down $2.10 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $156.92 per tonne, down $0.78 per tonne 65%...Read More
Neo Lithium moving closer to productionSPONSOREDneo lithiumPantoro charging towards second gold mineSPONSOREDpantoro limitedMaximus ready to resume search for more Wattle Dam richesSPONSOREDmaximus resourcesDecade of performance: Pitram delivers diamond standard for Argyle diamond mineSPONSOREDmicromineThe company intersected 126.2m grading 0.31 grams per tonne gold, 0.53% copper and 34.6g/t silve...Read More
Coal exports from Australia's metallurgical coal hub of Queensland fell by 10.2% in December 2020 from the same period in 2019 but were 18.9% higher month on month.Some 18.66 million tonnes of coal - including thermal coal - were shipped from the region last month, compared with 20.78 million tonnes a year earlier and 15.69 million tonnes in November, according to data from North Queensland...Read More