RAPAPORT... Belgium's polished-diamond exports dropped 55% to $560 million in February, reflecting a slowdown in the market due to the coronavirus. However, rough imports grew, continuing a trend that began in January, data from the Antwerp World Diamond Centre (AWDC) showed. Belgium Trade Data for February 2020Read More
RAPAPORT... Alrosa has pledged to remain flexible with its supply policy during the current industry downturn, as the coronavirus has left clients unsure how much rough to buy."The virus has triggered uncertainty, and our clients are prudent about the situation and the new challenges we face," Alrosa deputy CEO Evgeny Agureev said following a meeting with the trade in Antwerp last week.The di...Read More
RAPAPORT... Nonprofit organization Mercury Free Mining (MFM) will refine and further test equipment that may eliminate the use of mercury in gold processing following positive trial results.Small-scale miners in Ghana used Goldrop, a new separation process created by Sluice Goose Industries, in their daily mining activities over a 10-day period. Results were monitored by MFM together with the...Read More
RAPAPORT... Gem Diamonds has recovered five large, high-quality stones at its Let??eng mine in Lesotho, it said Friday.The company unearthed four white diamonds weighing 88, 56, 53 and 33 carats between February 28 and March 3. It also found a "top-quality" 13-carat pink diamond. Those are in addition to the recovery of a 114-carat stone the miner reported last week. It found a 183-carat, whi...Read More
RAPAPORT... The Canadian Jewellers Association (CJA) has issued a guide to advertising lab-grown diamonds in response to a rise in marketing of the product to consumers in the country.The CJA based its rules on a number of Canadian legal sources, including the Competition Act and the Canadian Guidelines for Gemstones. It also takes into account the US Federal Trade Commission's (FTC) Jewelry...Read More
(IDEX Online) - Diamond billionaire Beny Steinmetz has had his assets frozen in an ongoing compensation row with the Brazilian mining giant Vale, according to a report in the Daily Telegraph newspaper.His mining company Beny Steinmetz Group Resources (BSGR) is embroiled in a bitter and long-running compensation battle with Brazilian mining giant Vale over an ill-fated iron ore joint venture in the...Read More
(IDEX Online) - Fears over coronavirus have forced the cancelation of this year's GIA's career fair.Hundreds of job seekers had been due to attend the annual event in New York on 13 March.Organizers of the GIA Jewelry Career Fair, which attracted over 400 students last year, hope to rearrange the event.Spokseman Stephen Morisseau said: "Due to evolving concerns about the coronavirus, we...Read More
"We are delighted to welcome @AusVanadium to the stage on 23rd Marchin front of over 250 investors. #AustralianVanadiumis an emerging vanadium producer developing the high-grade Australian Vanadium Project in Western Australia. See them in action: https://t.co/9KSR6e1UiX"Read full newsRead More
In the Peruvian highlands, a refinery said it had found a sustainable source of artisanal gold. Prosecutors suspect its main supplier was a front for dirty money. What went wrong?Read full newsRead More
In the Peruvian highlands, a refinery said it had found a sustainable source of artisanal gold. Prosecutors suspect its main supplier was a front for dirty money. What went wrong?Read full newsRead More
"Coronavirus highlights critical need for diversity in the battery metals supply chain Featuring comments from Mitchell Smith, president of Global Energy metals (#GEMC $GEMC @EnergyMetals) https://t.co/qciUYPUq4G"Read full newsRead More
Grasberg (pictured) is the world's second-largest copper mine, as well as being one of the five-biggest gold mines.( Screenshot from Time-lapse video | YouTube.) Freeport-McMoRan (NYSE: FCX) announced on Monday that it will grow its copper and gold volumes by 30 to 40%.The company also said it will reduce net unit cash costs of copper by 25% to approximately $1.30 per pound and more than double...Read More
Endeavour's Agbaou Gold mine in C??te d'Ivoire. Image from Endeavour. Endeavour Mining (TSX:EDV) on Monday reported that its 2019 production increased by 6% year-on-year to 651,000 oz at an all-in sustaining cost (AISC) of $818/oz, meeting guidance for the 7th consecutive year.But annual output was at the bottom end of the 650,000-695,000 oz guidance range due to the slower-than-expected ramp-up...Read More
Culiacan, Sinaloa, Mexico. Stock image. The initial seven holes completed by Vizsla Resources at the Panuco silver-gold project in Mexico returned high-grade intercepts from an area surrounding historic workings as well as from a new vein discovery.Drill highlights include 3.55 metres of 364 g/t silver-equivalent from the Paloma vein, a newly discovered structure, and 2.6 metres of 404 g/t silv...Read More
"Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."-Charles MacKay Extraordinary Popular Delusions and the Madness of CrowdsI think it is safe to say by now, that we are in complete panic mode.In the midst of a worldwide pandemic, a stock market crash and a lame, desperate move by the Fed - we've all...Read More
Image from RPM Global. Mining technology and consulting company RPM Global has launched the Talpac-3D software package, an addition to its suite of mining simulation solutions aimed at helping companies unlock value from their operations.After detailed consultations with Talpac's global user base, RPMGlobal released Talpac-3D to offer an enhanced user experience, increased functionality and a s...Read More
MBI global logo MBI Drilling has embarked on a new phase, becoming MBI Global. As part of its focus on the future of the international mining industry, the company revisited the MBI brand with a rebranding effort.MBI Global will join forces with its partners, Versa Drill Canada, Pilot Diamond Tools, Premier Mining Products, N&N Drilling and Drillware, to bring a competitive edge to the gl...Read More
Mar 09, 2020 Guest(s): Adrian Day The Federal Reserve's inter-meeting emergency 50-basis-point interest rate cut last week was a panic move and will continue to support gold prices, said Adrian Day, CEO of Adrian Day Asset Management. "You can't fight a virus with a rate cut," Day told Kitco News, on the sideline of PDAC 2020, the world's largest mining conference. "I think the Fed has complete...Read More
Here are five Fastmarkets stories you might have missed on Monday March 9 that are worth another look.Market sources have been puzzled by the gradual upward trend in China's steel prices after the novel coronavirus (2019-nCoV) broke out in a big way after the Lunar New Year holiday.Soci?(C)t?(C) le Nickel (SLN) resumed operations and ore shipments at its Thio mine in New Caledonia on March 9, a sp...Read More
Three-month base metals prices on the London Metal Exchange, with the exception of aluminium, closed down in the afternoon session on Monday March 9 while problems arising from the 2019-CoV coronavirus continued to weigh on global economies and demand for commodities."There was no shortage of negative developments over the weekend while recently-affected economies took drastic measures to limit th...Read More