Owing to public health restrictions on the movement of people and products in Botswana, South Africa and India, diamond miner De Beers will not hold its third rough diamond sales cycle of this year.As a result, De Beers is enabling sightholders to defer 100% of their Sight 3 allocations to later in the year.AdvertisementThe miner intends to “seek innovative ways” to meet rough diamond...Read More

Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.2020 will see lead transition into a market surplus after several years of significant deficit, according to Wood Mackenzie.Despite total exchange stocks of refined metal remaining near historical lows, softening demand has damaged se...Read More

JOHANNESBURG (miningweekly.com) – The mining industry could be an enormous asset in stabilising and growing the economy post the coronavirus crisis – but the right economic and regulatory circumstances would have to prevail, Minerals Council South Africa stated in a weekend media release.Post coronavirus, South Africa would need to adopt and implement a set of comprehensive structural...Read More

The lockdown in India has caused a variety of logistical issues resulting in imported scrap material becoming stranded at ports and leading to potentially large charges at a time when trading has come to a sudden halt, market sources have told Fastmarkets. On March 24, Indian Prime Minister Narendra Modi announced the country would begin a 21-day lockdown period effective from midnight until...Read More

Turkish deep-sea scrap import prices fell sharply for the third time in two weeks amid the Covid-19 pandemic, which has brought steel trade to a halt and led to closures or production cuts, sources said on Monday March 30.A steel mill in northern Turkey was heard booking a Baltic Sea cargo, comprising 9,000 tonnes of HMS 1&2 (80:20), 14,000 tonnes of shredded and 3,000 tonnes of bonus at an averag...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe fall in the copper price in response to a slowdown of the global economy in the face of the worldwide spread of the COVID-19 virus has hit the company's financial plans hard.The company has yet to report its 2019 full year financials, but at the end of the third quarter it had US$14.6 million in cash and a negative working capi...Read More

Global ferrous scrap prices continued to fall sharply in major markets during the working week from Monday March 23 to Friday March 27, because of the worsening Covid-19 pandemic.Turkish import prices slump furtherBuying prices down at US East Coast docksTaiwan import price at three-year lowIndian market collapses on lockdown order; price drops $44 per tonne.TurkeyPrices in the world's largest scr...Read More

Turkish domestic scrap prices have continued to fall in the past week, in line with the sharp downturn in imported scrap values due to the Covid-19 virus outbreak, sources said on Monday March 30.Imported scrap prices in the Turkish market plunged once again last week amid production cuts, closures and weak steel trade resulting from the global spread of the coronavirus.In response to the drop in...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesProduction fell 5.3% to 1.58 million tonnes in 2019 from 1.68Mt in 2018, while C1 cash costs increased 1.8% to $1.41 per pound from $1.39/lb in the prior year period. Codelco's C3 fully allocated cost fell 2.8% to $2.24/lb from $2.30/lb.Codelco said operations in the second semester overcame many of the difficulties the company exp...Read More

European Metal Recycling (EMR) has shut down part of its operations in the UK due to the Covid-19 virus outbreak, the company said on its website on Friday March 27.The closures took effect from Friday evening, the company said, but no dateline was given for the move. Many scrap suppliers in the UK are cutting production, with almost all scrap processing shuttered in Scotland and much of it in Eng...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe company reported its La Esperanza camp was violently attacked by people throwing dynamite and shooting guns, and burning several installations and vehicles.The project in Morona Santiago province is at the advanced exploration stage, although work has been paralyzed since 2006 due to opposition to its development from the Shaur...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesSpain's government issued a Royal Decree to combat COVID-19 requiring the closure of all but essential industries from March 30 - April 10. Mining was not classified as an essential industry.Canadian bank BMO said the impact of the shutdown to Atalaya was likely to be "relatively limited at this stage", but that a prolonged shutdow...Read More

Algerian steelmakers Algerian Qatari Steel (AQS) and El-Hadjar Iron & Steel Complex have stopped crude steel production because of the Covid-19 pandemic, market sources told Fastmarkets on Friday March 27.The country's authorities have issued a decree calling on companies to reduce their non-essential workforces by at least 50% to limit the spread of the virus. The decree came into force on March...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesTrilogy said the US Bureau of Land Management had released the final environmental impact statement for the Ambler Mining District Industrial Access Project.Read More

Seaborne iron ore prices dropped closer to the $80-per-tonne level on Monday March 30 on plunging rebar prices in China and a negative outlook for downstream demand in April among some market participants. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $82.98 per tonne, down $3.38 per tonne 62% Fe low-alumina fines, cfr Qingdao: $83.88 per tonne, down $3.14 per tone58% Fe fines high-grade...Read More

Seaborne coking coal prices plummeted on Monday March 30, with steel mills - especially those outside China - expected to cut output in the second quarter. Fastmarkets IndicesPremium hard coking coal, fob DBCT: $147.73 per tonne, down $5.71 per tonnePremium hard coking coal, cfr Jingtang: $155.54 per tonne, down $2.49 per tonneHard coking coal, fob DBCT: $134.01 per tonne, down $5.88 per tonneHard...Read More

China's domestic hot-rolled coil prices fell further on Monday 30 amid thin trading, while exporters have started to think twice about short-selling after mills announced plans to cut production.DomesticEastern China (Shanghai): 3,290-3,310 yuan ($464-466) per tonne, down 40 yuan per tonneNorthern China (Tangshan): 3,260 yuan per tonne, down 20 yuan per tonneThin trading in Shanghai forced sellers...Read More

China domestic rebar prices fell on Monday March 30 on pessimism over the recovery of demand in the country after its central bank cut the rate on seven-day reverse repurchase agreements by 20 basis points - the largest in nearly five years.Eastern China (Shanghai): 3,430-3,460 yuan ($483-488) per tonne, down 40 yuan per tonneNorthern China (Beijing): 3,350-3,370 yuan per tonne, down 30 yuan per t...Read More

Markets were looking quite mixed this morning, Monday March 30, with most Asian-Pacific equity indices down, the pre-market Dow Jones Industrial Average up by 0.2%, oil prices down by around 5% and the base metals prices mixed.Base metals face numerous cross currents with demand expected to recover in China but fall further in the world ex-China, while the Covid-19 virus and lower prices lead to s...Read More

Base metals prices on the Shanghai Futures Exchange were down across the board at the close of morning trading on Monday March 30, with aluminium leading the complex lower with a fall of 2.1%.The weakness across the complex was primarily due to a loss of confidence among investors while the number of infections and deaths related to the Covid-19 pandemic continue to climb. This after sentiment had...Read More