RAPAPORT... Millennial consumers are independent, vocal, tech-savvy and used to getting what they want. They have disposable income and aren't afraid to spend it on things they believe add value to their lives, no matter the price tag. But successfully enticing this market into your store is not as easy as it was with their moms and dads, and retaining them can be even more difficult. That's...Read More
(Press Release) - Over the last several years the HB Company principals have worked solely on the ambition to transform the diamond supply chain, creating a new transparent ecosystem, reconnecting the consumer with the rare beauty of the rough stone. The company announces a ground-breaking collaboration with Louis Vuitton and Lucara Diamond Corp, to manufacture the historic, record sett...Read More
Investment in South African exploration has been lean of late, with numerous factors contributing to this reality, including the state of the economy and the ability to secure seed funding, says Investing in African Mining Indaba head of content Tom Quinn, of UK event organiser Hyve Group.Themed Optimising Growth and Investment in the Digitised Mining Economy, Investing in African Mining Indaba 20...Read More
The price of billet in Turkish markets has gone down over the past week on decreasing imported scrap values, sources said on Thursday January 23.The billet offers from the Commonwealth of Independent States (CIS) slipped to as low as $410 per tonne cfr levels, downfrom last week's minimum levels of $415 per tonne. Only one firm bid was heard at $408 per tonne cfr, according to sources.Fastmarkets'...Read More
(IDEX Online) - Alrosa has announced that the diamond price index for 2019 dropped 6 percent over 2018. For the fourth quarter, it fell 2 percent compared to Q3 2019.In the fourth quarter, the average realised price for gem-quality diamonds increased 9 percent (down 3% y-o-y) to $148 per carat. For the full year, prices totaled $133/ct (down 19%).Fourth quarter rough and polished sales revenue inc...Read More
(IDEX Online) - Jewelers Mutual has arranged additional surveillance for commercial lines policyholders in an unnamed state in the Midwest because of what it terms suspicious activity. This is the second time in the past few months that the company has had to do so. In October 2019, Jewelers Mutual provided extra security surveillance to policyholders in California during widespread power out...Read More
(IDEX Online) - BlueRock Diamonds has announced that it operated profitably for the first time in the second half of 2019. The miner started operations in 2012.The AIM-listed diamond producer, which owns and operates the Kareevlei DiamondMine in the Kimberley region of South Africa said its revenue was up 190 percent to ?, ?4.1 million ($5.4 million) for full year 2019. The miner sold 12,675...Read More
(IDEX Online) - Anglo American today (Thursday) announced that De Beers' Q4 2019 production dropped 15 percent to 7.8 million carats compared to Q4 2018 (9.1 million carats). The company said the lower figures were because of lower production levels in South Africa and Botswana.For the full year, De Beers' diamond production totaled 30.8 million carats, a drop of 13 percent compared to 2...Read More
With the calendar having shifted to 2020, opportunities and threats abound for steel and steelmaking raw materials markets across the world.In this special report, we take you around the globe to provide you with a...Read More
Domestic prices for rebar and wire rod in Turkey have gone down over the past week amid lower imported scrap values and limited winter demand, sources said on Thursday January 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 2,975-3,030 Turkish lira ($501-511) per tonne, including 18% VAT, on January 23. This was down from the 3,050-3,060 lira pe...Read More
Diversified miner Anglo American delivered on its production targets across the business for the year ended December 31, CEO Mark Cutifani said on Thursday with the release of the group’s unaudited production results for the fourth quarter and the full-year.Production was up 4% for the fourth quarter, led by the continued successful ramp-up at the Minas-Rio iron-ore mine, in Brazil.Advertise...Read More
RAPAPORT... The US jewelry industry contracted in 2019 as the number of businesses closing shop continued to exceed new entrants.The sector shrank 3.3% to 24,565 companies active in the fourth quarter, compared with 25,400 a year earlier, according to data the Jewelers Board of Trade (JBT) released Thursday. While 900 businesses left the industry during the year, only 228 joined.However, the...Read More
Turkish long steel export prices have continued to fall over the past week in line with softening scrap costs and limited demand, sources said on Thursday January 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $425-430 per tonne on an actual weight basis on January 23, down from the $435-440 per tonne fob of last week.The mills in the c...Read More
RAPAPORT... The Jewelers Vigilance Committee (JVC) has presented Gemological Institute of America (GIA) CEO Susan Jacques with the Stanley Schechter Award.The accolade, which was established in 2002, recognizes industry leaders who have raised the jewelry community's reputation through their dedication, ethics and integrity, JVC said last week."Susan is a true industry treasure who deeply emb...Read More
MOSCOW – The government of Russia's Yakutia region, which has a stake in diamond producer Alrosa, has proposed the company sell rough diamonds worth $0.5-billion to $1-billion to the precious metals and gems repository Gokhran in 2020, Interfax news agency reported.Diamond miners are battling falling demand, as well as competition from diamonds manufactured in laboratories. Alrosa is the...Read More
Prices for steel billet imported into Egypt decreased again in the week to Thursday January 23 amid weak demand, sources told Fastmarkets.Egyptian rebar producers were offering rebar at E ?9,650-10,000 ($610-632) per tonne ex-works including 14% VAT, down from last week's E ?9,650-10,120 per tonne ex-works. ...Read More
Seaborne iron ore prices dropped significantly on Thursday January 23 in the lull ahead of the week-long Chinese New Year holiday, amid rising concerns over the potential impact of the coronavirus outbreak in Wuhan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.44 per tonne, down $3.24 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.48 per tonne, down $3.24 per tonne.6...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesCase study: platform financeSPONSOREDminexiaMacquarie Capital has been appointed to manage the process after Orion received expressions of interest relating to the potential acquisition...Read More
The seaborne coking coal market was quiet on Thursday January 23 with many participants in China already away for the Chinese New Year, though a mysterious respiratory virus that is spreading across the country is clouding the outlook for prices.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.29 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $162.73 per tonne, unchangedHar...Read More
Hebei Iron and Steel Group (HBIS), also known as Hesteel Group, has secured a yuan-denominated contract to buy iron ore from Vale, China's second-biggest steelmaker said this week.The contract was signed on Monday January 20 according to an announcement on the HBIS website on Thursday, and is worth around 200 million yuan ($29 million).The...Read More