(IDEX Online) - After battling power interruptions, Firestone Diamonds plc has announced that stable grid power restored at its Liqhobong mine, allowing it to operate at full capacity again.Production at Liqhobong was affected by a two-month planned shutdown of the Lesotho Electricity Company's Muela Hydropower Station. To minimize disruption at the mine, Firestone commissioned diesel ge...Read More

RAPAPORT... Luk Fook's sales fell 20% in the first fiscal half amiduncertainty in the Hong Kong market and the rising price of gold. Total sales dropped to HKD 6.31 billion ($805.5 million) inthe six months ending September 30. Profit for the period slipped 26% to HKD497.3 million ($63.5 million). Same-store sales - at Luk Fook outlets open for more than ayear - in Hong Kong and Macau slid 2...Read More

Turkish steel producers skipped the day with no deep-sea bookings, while prices remained unchanged on tight supply, sources said on Thursday December 5.There were rumors of a UK or European cargo being sold at $282 per tonne cfr for HMS 1&2 (80:20), but market participants said the deal had not been closed."Suppliers have already...Read More

The seaborne iron ore prices have stayed rangebound on Thursday December 5, while demand for iron ore lump has started to improve.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.65 per tonne, down $0.41 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.74 per tonne, down $0.41 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.25 per tonne, down $0.38 per tonne.58%...Read More

Seaborne coking coal prices remained stable on Thursday December 5, with transaction prices seeing only mild movements in recent days.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.79 per tonne, down $0.01 per tonnePremium hard coking coal, cfr Jingtang: $147.22 per tonne, up $0.13 per tonne Hard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr J...Read More

Galena provides a leading lightSPONSOREDgalena miningOZ's market rating hangs on a smooth start-up and commissioning of the project.Read More

Prices in Southeast Asia's steel billet market gained during the week to Thursday December 5 amid concerns over a potential supply deficit after a Russian steelmaker halted production. Sources told Fastmarkets that the Russian mill was facing difficulty in obtaining financing for raw materials due to a government probe into the company. A total of 100,000 tonnes of February-shipment billet from th...Read More

Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesBAML forecasted nickel prices would hit $17,375/t next year and $20,000/t by 2021, on the back of demand for EVs and Indonesia's ore export ban. On 3 December, the price was $13,595/t.Read More

China's hot-rolled coil prices remained robust on Thursday December 4, partly because securities companies were buying spot goods to fulfil orders they had signed several weeks ago.DomesticEastern China (Shanghai): 3,770-3,800 yuan ($535-540) per tonne, widening upward by 20 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, unchangedSpot prices in Shanghai narrowed upward, w...Read More

Renewed optimism that a phase one trade deal between China and the United States could soon be reached gave a boost to most of the base metals traded on the Shanghai Futures Exchange during the morning session on Thursday December 5. This morning's broadly positive performance follows reports on Wednesday that a partial US-China trade deal may be nearing. This despite comments from US President Do...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Initial Jobless Claims was an increase to 221,000 from 213,000 last week. Actual was 203,000. Consensus for the October U.S. Trade Deficit was $51.5 billion versus $52.5 billion...Read More

Glencore has cut its production guidance for cobalt in 2020 to 25,000-33,000 tonnes, down by about a third from 2019's 41,000-45,000 tonnes, the Swiss miner-trader said this week.In an investor presentation on Tuesday December 3, the company said that for 2021 and 2022 it expects to produce 28,000-36,000 tonnes of cobalt. It said the decline in production was mainly a...Read More

Has the United States dollar conquered "Triffin's dilemma"?That is… is the dollar safely and securely perched atop the global monetary system?Today we turn away from the bright, sunlit world of appearance... and seek our answer in the "shadows."For "the eye is always caught by light," as author Gregory Maguire styles it - "but shadows have more to say."To these shadows we shall listen.Belgia...Read More

Dear Rich Lifer,When it comes to saving money, a category many people cut out right away is dining out. This makes sense – restaurant meals can be pricey, and when you add on tax and tips, they can break the budget quickly.Luckily, if you use a little forethought, there are lots of ways you can save money and still indulge in a meal out now and then.Here are a few of our favorites:BYOBAn eas...Read More

Dear Reader,The major stock market indices will move sideways through the remainder of the month (and year) to end the year about where they are now. That said, if markets move outside a narrow range, there is more downside potential than upside.This is a good time to lighten up on equity exposure and reallocate to bonds, cash and gold.Stock markets haven't gained much over the past two years. Tha...Read More

Chinese stainless steel prices in both the domestic and export markets fell over the past week amid bearish sentiment stemming from the high inventories held at a major mill in eastern China.DomesticFastmarkets' weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 14,400-15,000 yuan ($2,040-2,125) per tonne incl...Read More

Kinross Gold (TSX: K; NYSE: KGC) is selling 20.7 million shares, or its 9.2% stake, in Lundin Gold (TSX: LUG) for $150 million.Shareholders Newcrest Mining (ASX: NCM) and the Lundin Family Trust are buying the Kinross shares, boosting their interest in Lundin Gold to 32% (from 27%) and 27% (from 23%), respectively.Kinross said the move was part of its "portfolio management strategy" and broader ef...Read More

Increasing violence in communities around its Richards Bay Minerals complex in South Africa has forced Rio Tinto (NYSE: RIO) to curtail all mining operations there, the Anglo-Australian miner says.The company reported "an escalation of criminal activity" towards the unit's employees, and said one person had been shot and seriously injured.Smelters at the unit are operating at a reduced level.Meanw...Read More

In October, the Committee for Mineral Reserves International Reporting Standards (CRIRSCO) released the October 2019 version of the CRIRSCO template for standardized public reporting of exploration results, mineral resources and mineral reserves.The publication marks another step forward in the harmonization of international reporting standards used in jurisdictions like Canada (CIM), Australia (J...Read More

Egypt-focused gold miner Centamin (TSX: CEE; LON: CEY) has rejected a US$1.9-billion all-stock takeover bid from Canada's Endeavour Mining (TSX: EDV) announced earlier on Tuesday, saying it did not offer enough value to the company's shareholders.Centamin also said that the terms of the offer did not adequately reflect the contribution that it would make to the merged entity, adding that the compa...Read More