(IDEX Online) - Lucapa reports "promising" results in its search for alluvial diamonds in Lulo, Angola. The ASX-listed Lucapa Diamond Company says 45 diamonds of up to 3.75 carats, and a number of D-colours (according to preliminary analysis), have been recovered from stream bulk sampling. The exploration of hard-rock kimberlite sources is taking place in the Canguige tributary draining into the...Read More
Star Diamond Says Rio Tinto Options Exercise not Compliant with JV Terms(IDEX Online) - Star Diamond Corporation has told Rio Tinto Exploration Canada Inc. (RTEC) that its "purported exercise" of its four options under the Option to Joint Venture Agreement did not comply with the terms of the agreement. In November 2019, Rio Tinto announced its intention to take a majority ownership in...Read More
(IDEX Online) - Diamond production in Angola rose by 12.3 percent last year, according to Sodiam, the state diamond marketing company. But revenue for 2019 was up by only half that figure (6.2 per cent) due to a fall in prices on international markets. Sodiam said it sold 9.44 million carats of diamonds, providing income of $1.299 billion. Production and sales were "satisfactory," said Janio Corre...Read More
London-listed Petra Diamonds has cut its cash flow targets amid a weak diamond market, owing to the coronavirus outbreak, which started to affect Chinese citizens late last year and has since spread to 24 countries.Reporting on its results for the six months ended December 31, Petra on Monday said its Project 2022 – which involves optimisations and expansion initiatives at all its mines &nda...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 financeSPONSOREDminexiaHot Chili managing director Christian Easterday believes Cortadera is well on its way to being a tier-one copper deposit, with copper-equival...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesAlways a good measure of the underlying economy, the copper price has stabilised and even appears to be showing a modest upward trend as speculators take early-bird positions in what they believe willRead More
The United States' ferrous scrap export market to Turkey was quiet on Wednesday February 19, but signs from other countries suggest more upside ahead in cargo sales.A Baltic sale concluded to Turkey on February 19 included an 80:20 mix of No1 and No2 heavy melting scrap (HMS) at $279 per tonne. The Baltic material sells at a $5-per-tonne discount to that from the US.Based on th...Read More
The stainless steel scrap market in the United States is flatlining, with few signs that it will gain strength anytime soon."There is no question that scrap supply is thinner than 2019, and depending on how short processors are on material scrap dealers continue to have some leverage," one US scrap dealer source said.Fastmarkets assessed the 316 solids, clips, broker buying price, delivered to pro...Read More
The Turkish steel mills have continued to book deep-sea scrap for March shipments at slightly higher prices, sources said on Wednesday February 19.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 9,000 tonnes of HMS 1&2 (80:20) at $279 per tonne, 15,000 tonnes of shredded at $284 per tonne and 6,000 tonnes of bonus at $289 per tonne cfr.The same mill booked a second Baltic...Read More
The International Chamber of Commerce has ordered the government of Sierra Leone to withdraw its restrictions on the mining of iron ore at the Marampa project by SL Mining, the company said in a press release dated Tuesday February 18.The ICC's Arbitral Tribunal issued a peremptory order on the mining project on February 13, SL Mining said. The order gave country's government eight days to comply....Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesIt said the community of Chilloroya had formally approved a surface rights agreement, although it said additional consultation between the government and local community was required before HudbayRead More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesWhile Canaccord's head of mining research Reg Spencer believes the full impact of coronavirus is yet to be felt, any assumption around it being brought under control means the current period could in fact represent a ‘buying' opportunity on the basis of future stimulus spending in China. As such, Spencer is positi...Read More
Japanese ferrous scrap export prices have risen over the past week amid tightening supplies and healthy demand from Vietnamese buyers, sources in Japan told Fastmarkets.Fastmarkets' inaugural price assessment for steel scrap H2 export, fob main port Japan was ?24,000-24,500 ($219-223) per tonne fob Tokyo Bay on February 19, up by around ?500-1,000 per tonne from prices heard last week. In t...Read More
Seaborne iron ore prices were rangebound on Wednesday February 19 amid a murky short-term outlook for demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90 per tonne, down $0.18 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $89.33 per tonne, down $0.18 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.16 per tonne, down $0.04 per tonne.58% Fe fines high-premium, cfr Qingdao: $7...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe index put the month's average at 90.1, up from December's 88.9.The figures have ranged over the past 12 months from 85.2 in April to 93.8 in July.Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe observations showed activity was "particularly strong" in Europe during January, and while there was a slight re...Read More
Domestic prices for ferrous scrap in Italy have declined over the past month in line with the fall in international scrap prices, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill Italy was ?,?235-250 ($254-270) per tonne on February 18, down by ?,?20 per tonne from ?,?255-270 per tonne on January 20.Read More
Seaborne coking coal prices climbed again on Wednesday February 19, with market participants in China citing tight supply as the key driver of the upward movements.Fastmarkets indicesPremium hard coking coal, fob DBCT: $158.29 per tonne, up $2.86 per tonnePremium hard coking coal, cfr Jingtang: $166.94 per tonne, up $2.36 per tonneHard coking coal, fob DBCT: $133.50 per tonne, up $6.49 per tonneHa...Read More
After the broad-based dip on Tuesday February 18 that was partially triggered by Apple’s sales warning, markets have recovered on Wednesday with equity indices in Asia stronger, as are pre-market western equity indices.Base metals prices on the London Metal Exchange were up across the board this morning, while those on the Shanghai Futures Exchange were mixed. China reported 136 new deaths fr...Read More
The London Metal Exchange base metals, except tin, were subject to stock moves in the morning session on Wednesday February 19, with LME three-month prices demonstrating mixed consolidation.The LME three-month lead price was trading down 0.6% from the previous day's close at around $1,885 per tonne, capped by a 5,725-tonne re-warranting of material in Kaohsiung, South Korea, with a widening cash/t...Read More
Exporters of Chinese hot-rolled coil lowered their offers further to stimulate sales amid high inventory levels despite a relatively stable domestic market on Wednesday February 19.DomesticEastern China (Shanghai): 3,480-3,490 yuan ($497-499) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,230 yuan per tonne, unchangedA Shanghai-based trader said prices in the city nar...Read More