RAPAPORT... De Beers is using its mining sites in Botswana and its technology production center in the UK to help the fight against COVID-19.Debswana, the company's joint venture with Botswana, is making facilities available for the government to use as treatment or isolation centers, parent company Anglo American said Monday. It's offering two of its ambulances, and compiling databases of re...Read More

JOHANNESBURG (miningweekly.com) – Shareholders will not be permitted to attend this year’s annual general meeting (AGM) of Anglo American because of Covid-19 restrictions – but they have been invited to submit questions in advance for answering at the AGM.The London- and Johannesburg-listed diversified mining company said in a stock exchange news service announcement on Tues...Read More

Hong Kong trading house Noble Group Holdings will close its base metals and rare earths trading desks as part of widespread board-mandated staffing cuts, informed sources told Fastmarkets. Noble's board is said to have agreed on a directive for a major cut to headcount across the business, with traders informed that they would be let go on Monday and Tuesday this week. "They are blaming Covid-19 b...Read More

(IDEX Online) - Tiffany is donating $1m to fight coronavirus and pledging to match dollar for dollar any contributions by its 13,000 employees.The New York-based jeweler's philanthropic foundation is allocating $750,000 to the COVID-19 Solidarity Response Fund for the World Health Organization, and $250,000 to the NYC COVID-19 Response & Impact Fund."During this global health crisis, we m...Read More

LSE-listed Gem Diamonds’ second round of the flexible tender sales process has been concluded and raised a further $6.7-million for a selection of  large, high-quality diamonds recovered at its Letšeng mine, in Lesotho.The company achieved an average value of $1 615 /ct for the first quarter of 2020.AdvertisementThe flexible tender sales process was put in place as a result of th...Read More

Three-month base metals prices on the London Metal Exchange were trading in positive territory at the close on Tuesday April 7, bolstered by reports that daily-reported Covid-19 cases were abating, giving rise to a spate of short-covering. Other market participants attributed today's gains to a risk-off rally induced by China's gradual return to market amid a fresh slew of supply disruptions to ke...Read More

Marex Spectron has created the new role of head of steel and ferrous derivatives and has hired Sam Mehew to fill the post, the company announced on Tuesday April 7.Mehew will be responsible for driving liquidity in all ferrous markets and aluminium premium products.Marex Spectron is a category I member of the London Metal Exchange, and trades across the various base, precious and ferrous...Read More

The aluminium premium in Italy declined by 26.8% this week, which market sources attributed to "non-existent" demand while countries battle with the Covid-19 outbreak and falling premiums in Rotterdam.Fastmarkets assessed the aluminium P1020A premium, fca dp Italy at $120-140 per tonne on Tuesday from $175-180 per tonne a week ago. Although shipments are not being sent to Italy, participants...Read More

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click hereThe company had already implemented extensive measures to protect workers and their families living in around the Lumwana copper mine against the virus, said country mana...Read More

First Quantum Minerals has put its Cobre Panama operation into care and maintenance following orders from the government to suspend activities to prevent the spread of the Covid-19 pandemic. Mining and processing operations will be halted, but the company said it is expected that the port and power plant will continue operations to supply electrical power into the Panama national grid as well as t...Read More

Hot-rolled coil prices in the United States have plunged below $25 per hundredweight ($500 per short ton) on fears that demand won't recover in the first half of 2020.Fastmarkets' daily steel hot-rolled coil price, fob mill US, was calculated at $24.68 per cwt ($493.60 per ton) on Tuesday April 7, down by 3.6% ($0.93 per cwt) from $25.61 per cwt on Monday April 6 and down by 8% ($2.15 per cwt) fro...Read More

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click hereThe closure was announced by health minister Rosario Turner during a press conference. Turner did not say how long the temporary closure order would last. First Quantum s...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesAlpala's resource now stands at 2.66 billion tonnes at 0.53% copper-equivalent in the measured and indicated categories, and 544 million tonnes at 0.31% copper-equivalent in the inferred category.Read More

Romanian flat steel producer Liberty Galati has reduced production and implemented "partial technical unemployment" due to the economic slowdown caused by the Covid-19 pandemic, the company told Fastmarkets on Tuesday April 7."The purpose of the measure is both to protect the interests of employees and ensure the long-term sustainability of the steel plant's operations," Liberty said. "We look for...Read More

The company had said last week the workforce at the expansion project, referred to locally as INCO, had been reduced by about 90% and INCO would be put on care and maintenance until conditions were "deemed appropriate" for a restart.Yesterday, Antofagasta said INCO contracting companies' agreements would be suspended, in principle for an estimated maximum of 120 days, and "in most cases" this did...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Uncertainty and a near complete stop of economic activity in numerous countries around the world froze steel markets and seaborne trade. This has led to sharp price falls or created expectations that prices will drop as soon as markets reopen. The fast-moving nature of events made forecasting particularly challenging, and th...Read More

Flat steel import prices in the United Arab Emirates and Saudi Arabia were stable this week after the sharp fall last week, with the market very slow amid concerns about the Covid-19 pandemic, sources told Fastmarkets on Tuesday April 7.Only one hot-rolled coil booking was heard, with nobody wanting to place new orders because of the current situation in around the world and sharply falling prices...Read More

Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Tuesday April 7, with gains averaging 1.2% and 1.4% respectively.Broader markets are in a firmer tone following a 7.7% rise in the Dow Jones Industrial Average on Monday and after this morning’s announcement of a record breaking 108 trillion yen ($990 billion) stimulus package...Read More

Turkish deep-sea scrap import prices have gone up strongly, as expected, with news of fresh cargo deals, sources said on Tuesday April 7.A steel mill in the Iskenderun region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25) at $235 per tonne, 20,000 tonnes of shredded at $243 per tonne, 4,000 tonnes of a mixture of HMS 1 and plate and structural scrap (P&S) at $248 per tonne, a...Read More

Seaborne iron ore prices went down on Tuesday April 7 from the levels seen at the end of last week, but high-grade ore performed well in portside trading. The Chinese markets had been closed on Monday for the Qingming Festival holiday.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.73 per tonne, down by $0.57 per tonne.62% Fe low-alumina fines, cfr Qingdao: $84.11 per tonne, down by $0....Read More