European Aluminium is contesting the launch by the United States of an anti-dumping investigation into common alloy aluminium sheet from various European countries and has instead called for the European Commission to address subsidized Chinese overcapacity. The investigation concerns Croatia, Germany, Greece, Italy, Romania, Serbia, Slovenia, Spain and Turkey and was opened earlier this month. "W...Read More

Cigar Lake mine Credit: CamecoSASKATCHEWAN - Uranium companies Cameco and Orano Canada are suspending mining and processing activities at their operations in the northern part of the province due to the COVID-19 threat.The two companies jointly agreed to suspend production activities: Cameco operates the high-grade underground Cigar Lake mine, with processing of the ore at Orano's McClean Lake mil...Read More

Aluminium stocks on the London Metal Exchange have risen by 16% over the past week, with market participants taking a risk-off approach due to weak physical demand and concerns about the coronavirus outbreak.On-warrant aluminium stocks on the LME now sit at 929,675 tonnes, up from 798,200 tonnes at this time last week. More than 120,000 tonnes were delivered between March 19 and March 24.The major...Read More

The ramping-up of copper production at First Quantum Minerals' Cobre Panama project may be slower than expected, with output in the first half of this year likely to be affected by the health protocols designed to prevent the spread of the 2019-nCoV coronavirus pandemic.Cobre Panama, the only major greenfield project in the copper industry, has been specifically authorized by the government of Pan...Read More

US hot-rolled coil prices have been eerily stable because sources along the supply chain fear that lower tags would not increase activity in a market paralyzed by the Covid-19 pandemic.Fastmarkets daily steel hot-rolled coil index, fob mill US was calculated at $28.06 per hundredweight ($561.20 per short ton) on Tuesday March 24, up by 2 cents from $28.04 per cwt on Monday March 23 and down b...Read More

Brazilian steelmaker Gerdau has temporarily halted operations in Argentina and Peru following lockdowns in both countries to combat the spread of the novel coronavirus (2019-nCoV) pandemic.Gerdau's activities in Brazil have been affected, but have not been suspended so far, the company said on Tuesday March 24.Capital expenditure initiatives around the globe have been put on hold to reduce on...Read More

RAPAPORT... Mountain Province's losses intensified in 2019 as weaker anticipated diamond prices led to the devaluation of its Gahcho Ku?(C) mine.The miner posted a net loss of CAD 128.8 million ($89 million), compared with a loss of $14.1 million in 2018, it said Monday. The miner was hit by an impairment charge of CAD 115.8 million ($80 million) on the value of Gahcho Ku?(C)'s property, plan...Read More

RAPAPORT... A number of jewelers and manufacturers are shutting temporarily following government orders amid the coronavirus outbreak.Stuller has closed its Louisiana headquarters and suspended all on-site operations in accordance with Governor John Bel Edwards's stay-at-home order, it said Monday. The site will remain closed through Sunday."Ultimately, we believe temporarily suspending opera...Read More

RAPAPORT... Michael Hill will shut its stores in Australia and New Zealand for an indefinite period in response to the rapid spread of the coronavirus and a slowdown in its store traffic."In Australia, the current 'social distancing' guidelines are not consistent with the day-to-day conduct of our business," the company said Monday. "The drop-off in trade the company has experienced in Austra...Read More

RAPAPORT... The entire polishing industry in Surat has shut until March 31 after Indian authorities introduced tight restrictions to slow the spread of the coronavirus.Activities stopped on Tuesday in line with a lockdown enforced by the Gujarat state government. The Bharat Diamond Bourse in Mumbai also closed from Friday until the end of the month following similar measures in Maharashtra st...Read More

Austrian steelmaking group Voestalpine will enforce shorter working hours across its operations in Europe as part of short-term work model amid the coronavirus (2019-nCoV) pandemic, the company said on Monday March 23.The coronavirus pandemic has already hit the heart of the European economy. Widespread closures of car-manufacturing sites across Europe, as well as shutdowns and capacity cuts in th...Read More

RAPAPORT... Lucapa Diamond Company has garnered $4 million in revenue from the first share of proceeds through its manufacturing partnership with Graff unit Safdico, it said Tuesday.Under the partnership, which Lucapa announced in January, Safdico has the rights to buy up to 60% of annual rough production from Lucapa's Lulo mine in Angola. Safdico will then cut and polish those stones, with p...Read More

RAPAPORT... Signet Jewelers will not issue a forecast for the first quarter of its 2021 fiscal year as it weighs the effects of the coronavirus pandemic on its retail operations."Retailers are already experiencing the severe impact...of COVID-19 on the global economy, and we are anticipating continued reduction in consumer spend," Signet CEO Virginia Drosos said Monday. "We are moving quickly...Read More

RAPAPORT... Michael Hill will temporarily close all its Canadian stores amid the coronavirus pandemic, while locations in Australia and New Zealand currently remain open. The jeweler's Canadian stores are set to shut for a two-week period, but the company will reevaluate and may lift or extend the shutdown as necessary based on the health situation, it said last week. During the closure, most...Read More

German steelmakers Saarstahl and Dillinger, both part of Stahl Holding Saar (SHS), have cut production amid the novel coronavirus pandemic, although blast furnace (BF) and coking plant operations will both be maintained, the companies said in a joint statement on Tuesday March 24.The increasingly tough market situation in Europe, in the wake of the coronavirus outbreak, has forced regional steelma...Read More

The overall price of polished diamonds has dropped two per cent since 1 March, according to the IDEX Diamond Index. The most dramatic downward movement came last Thursday (20 March) when Indian exports were halted and the reality of coronavirus lockdowns worldwide hit home. The market-driven IDEX Diamond Index for stones of all sizes shows prices levelling slightly on Sunday and Monday (...Read More

PERTH (miningweekly.com) – Diamond miner Lucapa is set to receive its first A$7-million in revenue from its cutting and polishing partnership at the Lulo mine, in Angola.The company on Tuesday said that the first A$2.6-million payment will make up Lulo’s share of cutting and polishing profits from diamond manufacturer Safdico International with a further A$4.4-million from the sale of...Read More

The export market for flat steel exports from the Commonwealth of Independent States (CIS) fell during the week ended Monday March 23 on the pervading uncertainty in the global economy.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $435-445 per tonne on Monday, down from $455-460 per tonne a week before."Prices are falling but they're...Read More

RAPAPORT... The organizer of the May Hong Kong shows has put its plans for the events on hold, as quarantine rules have made it impossible to host an international fair.Measures enforced by the Hong Kong government on March 19 require all travelers arriving in the city to isolate themselves for 14 days to stem a second wave of coronavirus cases. The rule will remain in effect until June 18, t...Read More

Global diversified miner Anglo American has announced measures it is implementing across its mining and corporate operations in light of the Covid-19 outbreak.CE Mark Cutifani on Friday said the measures were tailored to the specific nature and location of a particular site to protect the wellbeing of staff and those who interact with the business around the world.AdvertisementAnglo has put in pla...Read More