JOHANNESBURG (miningweekly.com) – South Africa is one of the world’s top three mega biodiverse nations along with Brazil and Indonesia, said Environment, Forestry and Fisheries Minister Barbara Creecy in her address to the Oppenheimer Research Conference (ORC).“We are thus one of the richest countries in terms of the diversity of plants and animals both marine and terrestria...Read More
Physical iron ore prices dropped on Wednesday October 9 amid soft steel markets and demand concerns over the potential for more steelmaking restrictions in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.06 per tonne, down $3.71 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.34 per tonne, down $3.71 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.75 per...Read More
Trading activity in the seaborne coking coal market remained muted on Wednesday October 9 with Chinese buyers' optimism yet to translate into transactions while those elsewhere remained on the sidelines.Fastmarkets indicesPremium hard coking coal, fob DBCT: $146.37 per tonne, up $0.29 per tonnePremium hard coking coal, cfr Jingtang: $159.72 per tonne, up $0.02 per tonne Hard coking coal, fob DBCT:...Read More
More price falls are expected for Japanese H2 scrap in Asia after the Kanto Tetsugen scrap auction closed lower today, Wednesday October 9.The October auction concluded at an average price of ?22,293 ($208.03) per tonne on a free alongside ship (fas) basis this week, down ?2,556 per tonne from last month.A total of 21,100 tonnes was awarded to five buyers. The first buyer was awarded 5,000 tonne...Read More
European iron ore pellet producer Ferrexpo has revised its annual production guidance to 10.4-10.6 million tonnes, compared with 10.6 million tonnes previously, citing "the current market environment", it said on Tuesday October 8.The Switzerland-headquartered company, whose mines are in Ukraine, reported an output of 2.5 million tonnes in the July-September quarter. Of these, 96% consisted of 65%...Read More
Oriole's deepening footprint in West Africa is paying offSPONSOREDoriole resourcesPoster South Africa mine regeneration on trackSPONSOREDorion mineralsSilver Mines times Bowdens to perfectionSPONSOREDsilver mines limitedThe future of mining is (still) peopleSPONSOREDproudfootChief external affairs officer Geoff Healy said the mine was on track to reduce the water drawn from the area. The opera...Read More
Golden Mile goes back to the futureSPONSOREDgolden mile resourcesThe soon-to-be-launched Savant Global Copper Smelting Index reports on smelting plant activity, using 20 high-resolution satellites and the latest AI to cover an estimated 90% of the smelting capacity for copper around the world.The aim of it is to fix the gaps that exist on the coppy supply, which previously suffered from incom...Read More
Golden Mile goes back to the futureSPONSOREDgolden mile resourcesThe company had told the Mining Journal Select Conference in London mid-year it was likely to achieve this deadline.It said yesterday it had started pre-commissioning the process plant's grinding circuit, had recently completed the 120kV power line and stockpiled more than 70,000 tonnes of development ore on surface."We are now in th...Read More
China's hot-rolled coil market weakened further on Wednesday October 9, with mills lowering prices to boost trading after the lifting of production curbs in the northern region.DomesticEastern China (Shanghai): 3,590-3,600 yuan ($502-504) per tonne, down 20 yuan per tonneNorthern China (Tangshan): 3,540 yuan per tonne, down 20 yuan per tonneTraders in the spot market lowered their prices according...Read More
Rebar prices in eastern China continued to weaken on Wednesday October 9 on inactivity and sustained pessimism, while those in the northern region were unchanged on steady demand. Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($520-525) per tonne, down 20-30 yuan per tonneNorthern China (Beijing): 3,590-3,630 yuan per tonne, unchangedSellers in eastern China lowered their prices to stimulate...Read More
London Metal Exchange three-month base metals prices were little changed - with the exception of nickel - during morning trading on Wednesday September 9 amid lackluster turnover despite the dollar index trading down 0.11% at 98.98 at the same time. Uncertainty over imminent United States-China trade talks, which continue to falter, weaker Caixin Services purchasing managers index data released on...Read More
Markets are treading water this morning, Wednesday October 9, ahead of the United States-China trade talks that are being held on Thursday and Friday. Ahead of the negotiations, optimism for a trade deal between the two is fading while rhetoric rises, but that may just be gamesmanship.The International Monetary Fund (IMF) is expected to downwardly revise its growth projections for this year and th...Read More
Fastmarkets is initiating a consultation on a proposed increase in the frequency of its benchmark prices for cobalt standard grade and cobalt alloy grade, in whs Rotterdam, to daily. Fastmarkets currently assesses both prices on Wednesday and Friday each week.Initial feedback suggests that daily pricing would be more responsive to price moves in the cobalt market, notably during times of volatilit...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 9.Key drivers The ferro-titanium market continued its softer trend this week amid a virtual absence of consumer demand for prompt deliveries that has lasted since since the summer. The spot ferro-titanium price narrowed down to $4.40-4.60 per kg delivered this week from $4.40-4.80 per kg previously. Consumers in the steel se...Read More
The following Fastmarkets minor metals prices changed on Wednesday October 9:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $6,050-6,350 per tonne from $6,000-6,300Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $6,050-6,300 per tonne from $6,000-6,300Antimony MMTA...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points in pre-opening trade. Investors were encouraged by news that China has committed to purchase $10 billion in agricultural products if a U.S./China trade agreement is reached. Johnson & Johnson dropped $2.85 to $128.99 following a jury decision that awarded $8 billion against the company.Verizons added $0.2...Read More
Chinese stainless steel export prices have increased, after producers returned from the Golden Week holiday to find production costs rising due to a surge in nickel prices, market sources told Fastmarkets this week.The three-month nickel contract on the London Metal Exchange has averaged $17,560 per tonne so far in October, compared with August's average of $15,661 per tonne. Market participants i...Read More
When it comes to retirement destinations, you can find an endless number of lists ranking the best and worst spots to live out your golden years.My take is it really depends on how you want your retirement to look.Of course you want to stretch your dollar as far as it will go, but you're also not going to do it at the expense of losing friends and family.A survey by Merrill Lynch and Age Wave, fou...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 9:Aluminium scrapCommercial pure cuttings, delivered consumer UK, ?/tonne: ?820-860 per tonne from ?850-880Loose old rolled cuttings, delivered consumer UK, ?/tonne: ?540-560 per...Read More
Oriole's deepening footprint in West Africa is paying offSPONSOREDoriole resourcesPoster South Africa mine regeneration on trackSPONSOREDorion mineralsSilver Mines times Bowdens to perfectionSPONSOREDsilver mines limitedThe future of mining is (still) peopleSPONSOREDproudfootI suspect I have written previously about the complete shock that most humans display when something that has been predi...Read More