Turkish steel billet prices have increased over the past week thanks to rising imported scrap costs and improving demand, sources said on Thursday February 20.In response to the rising scrap import prices in Turkey, the suppliers in the Commonwealth of Independent States (CIS) region have raised their billet offer prices to $405-415 per tonne from last week's $400-405 per tonne.A steel mill in...Read More
(IDEX Online) - De Beers has reported lower production, sales and underlying earnings for 2019 as it faced "significant challenges for rough diamond demand". It predicted the return to "a more balanced position" of stock levels and an increase in production in 2020 in its preliminary financial results for last year, published today. But it sounded a note of caution over a range of risks, namely re...Read More
A key issue creating uncertainty among Namibia’s mining investors is the nondeductibility of royalties and export levies for nondiamond mining, which was announced during the Namibian 2019/20 Budget Speech by Namibian Finance Minister Calle Schlettwein, presented to Namibia’s Parliament in Windhoek, in March last year.At the time, Schlettwein also announced that export levies for dimen...Read More
(IDEX Online) - The Bharat Diamond Bourse (BDB) will hold the fourth edition of the Bharat Diamond Week (BDW) from August 5-7 at the BDB in Mumbai. Over 150 diamond companies are expected to take part in the event."The Bharat Diamond Week encourages small and medium sized companies who are bourse members to display their products and take advantage of the subsidies offered by the Bharat Diamond We...Read More
Turkish domestic long steel prices have increased over the past week on further weakness of the country's lira, rising scrap costs and improving demand that was itself triggered by the upturn in prices, sources said on Thursday February 20.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,150-3,190 lira ($518-525) per tonne on Thursday, up from the...Read More
(IDEX Online) - Peter Meeus, the former managing director of HRD Antwerp, has put in a second bid for the diamond lab after his first offer was rejected. Meeus submitted his bid through a Letter of Intent (LOI) that he said complies with the terms originally communicated by the Antwerp World Diamond Centre (AWDC) and matches the asking price and conditions. This includes the purchase of a 51-...Read More
Turkish rebar and wire rod export prices have continued to increase in line with rising scrap costs although demand, especially for rebar, was still not strong enough for the mills, sources said on Thursday February 20.Fastmarkets' weekly price assessment on Thursday for steel reinforcing bar (rebar), export, fob main port Turkey, was $430-440 per tonne on an actual weight basis, up from last week...Read More
JOHANNESBURG (miningweekly.com) – The smart technology and efficiency enhancing programmes of diversified mining company Anglo American have netted the company $4.7-billion so far.FutureSmart Mining (TM) programmes deliver additional value from equipment and processes and P101 uplifts the performance of existing operating assets, the products of which have been tailored foster a cleaner, gre...Read More
China's hot-rolled coil prices rose on Thursday February 20 amid optimism attributed to the progress of work resumption in downstream markets in the wake of the novel coronavirus (2019-nCoV) outbreak.DomesticEastern China (Shanghai): 3,490-3,510 yuan ($499-502) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,270-3,300 yuan per tonne, up 40-70 yuan per tonneWhile sellers in Shanghai...Read More
Domestic prices for hot-dipped galvanized coil (HDG) increased in Northern Europe over the past week, supported by strong demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?570-600 ($615-648) per tonne ex-works on February 19, compared with ?,?560-600 per tonne ex-works a week earlier. Starting from the year beginning the asse...Read More
JOHANNESBURG (miningweekly.com) – The strong 2019 earnings margins of Anglo American are poised to strengthen further in 2020, CEO Mark Cutifani said on Thursday.The 2019 earnings before interest, taxes, depreciation and amortisation (Ebitda) margins of the London- and Johannesburg-listed diversified mining company ranged from 40% to 44% in the 12 months to end December. (Also see attached e...Read More
RAPAPORT... Revenue from Angola's national diamond-trading company, Sodiam, rose 6% in 2019 as the company sold a higher volume of rough goods.Proceeds for the year came to $1.3 billion from the sale of 9 million carats of rough diamonds, compared with 8.4 million carats in 2018, the government said in a Facebook post last week. That offset a 10% drop in the average price to $137 per ca...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
JOHANNESBURG (miningweekly.com) – Anglo American CEO Mark Cutifani on Thursday described the building of the world’s largest hydrogen fuel cell haul truck in Limpopo as a great initiative that would in time be rolled out across the platinum group metals (PGMs), diamonds, copper and iron-ore mining company.Hydrogen fuel cell technology, which is platinum rich, is increasingly showing cl...Read More
Dexin Steel Indonesia will fire up its first blast furnace on Friday February 21, an industry source told Fastmarkets.Owned by China's Delong Holdings, the mill in Central Sulawesi province's Indonesia Morowali Industrial Park, will have a total production capacity of 3.5 million tonnes per...Read More
NEW YORK – When Krish Himmatramka was working as an engineer in the oil industry, he would spend his spare time in his trailer in northern Louisiana scouring the Internet for the perfect engagement ring for his girlfriend. But he struggled to find one that was ethically and sustainably produced. After researching the jewellery industry, he decided to quit his job and star...Read More
Although stock levels in the diamond industry’s midstream are returning to a more balanced position, following stable consumer demand, especially in the US, diamond miner De Beers has warned that risks remain.The company on Thursday reported a 55% year-on-year decrease in underlying earnings before interest, taxes, depreciation and amortisation for the 2019 financial year, as a result of low...Read More
JOHANNESBURG (miningweekly.com) – Diversified mining company Anglo American delivered 2019 profit attributable to equity shareholders of $3.5-billion, in line with the prior year.The company, headed by CEO Mark Cutifani, generated underlying earnings of $10-billion, a 9% increase, and $2.3-billion of attributable free cash flow.AdvertisementNet debt increased to $4.6-billion, equal to less t...Read More
PERTH (miningweekly.com) – Diamond miner Lucapa will continue the hunt for the primary hard-rock sources of alluvial diamonds at its Lulo mine, in Angola, noting that the first stream bulk samples excavated from the Canguige tributary had resulted in the recovery of 45 diamonds weighing 30.3 ct.The bulk sample included eight diamonds weighing more than 1 ct each and three diamonds of more th...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesThe company filed an environmental evaluation with the SEA environmental evaluation service for a 176-hole drilling programme.Read More