RAPAPORT... Angola is looking to expand its diamond operations, andhopes to create businesses across all points of the sector, including manufacturingand jewelry. The country recently inaugurated its third diamond-cuttingand production factory, Pedra Rubra, which will also manufacture jewelry forits five stores in Luanda. The facility, which cost $5 million to build, willprocess 5,000 carats of ro...Read More

China's domestic hot-rolled coil prices continued to rise on Thursday September 5 on declining inventory levels, which encouraged mills to raise their export offers.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($516-517) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, narrowing upward 10 yuan per tonneA domestic steel consultancy said that spot markets arou...Read More

The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, plate, sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More

InsideRetail Asia reported that in July, overall retail sales had dropped more than ten percent in Hong Kong. However, jewelry and watch sales fell as much as 25 percent. The website quoted the ongoing protests and the China-US trade war as the chief reasons for the decline. "The fall was widely expected with several large retailers projecting double-digit declines based on their own internal mon...Read More

Gem Diamonds published its results for the first half of 2019, reporting a revenue of $91.3 million, compared to $167.7 million during the first half of 2018.  The miner's earnings before interest, taxes, depreciation and amortization (EBITDA) stood at 25.3 million, compared to 70.7 million in 2018. Its attributable profit, from continuing operations was $6.6 million against $26.8 millio...Read More

While investor sentiment toward Zimbabwe is expected to improve, the country faces yet another economic crisis in the form a currency crisis that could deter investors who have had their interest in the country piqued recently, law firm Webber Wentzel tells Mining Weekly. “The indigenisation law, which is a challenge that investors are facing, is a minor issue in light of the foreign currenc...Read More

The optimism following the ousting of former Zimbabwean President Robert Mugabe was short-lived, with the realisation that it would not result in substantial change in the short term, or immediate return of foreign investment to Zimbabwe. This also came with the realisation that the once-healthy economy of the country would not be immediately revitalised, says legal service provider Eversheds Suth...Read More

Despite experiencing growth last year, intermittent power supply and a lack of new foreign direct investment (FDI) are the main causes of the Zimbabwe mining sector’s declining performance, says specialist strategy and communications consultancy Africa Practice mining sector lead Rishon Chimboza. Mining has been a lifeline for the country’s economy, with more than 60% of foreign exchan...Read More

The Angolan government is currently engaged in an international roadshow to showcase mineral concessions that the country will make available to local and foreign investors. The roadshow started with a presentation in Luanda on August 27, with the second presentation to be held in Dubai on September 10, followed by Beijing on September 16 and then ending in London on September 20. The intent is to...Read More

Stellar result for PolarXSPONSOREDpolarxHole 34 extends mineralisation to the north to an area never drill-tested before and returned 819.9m grading 0.53% copper, 0.24 grams per tonne gold and 7.83g/t silver for 0.Read More

Seaborne iron ore prices stayed rangebound around $90 per tonne cfr on Thursday September 5 after holding above that mark earlier in the week, while increased trading activity was heard for Brazilian Blend fines (BRBF).Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.18 per tonne, down by $1.14 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.57 per tonne, down by $1.14 per tonne.6...Read More

LSE-listed Gem Diamonds continues with the successful implementation of its business transformation programme, which is aimed at achieving $100-million in incremental revenue, productivity improvements and cost savings to the end of 2021.Reporting on the diamond miner’s results for the six months ended June 30, CE Clifford Elphick on Thursday said the company had already achieved $42-million...Read More

Seaborne coking coal prices fell on Thursday September 5, with the quantum of decline leaving some market participants stunned.Fastmarkets indicesPremium hard coking coal, fob DBCT: $149.09 per tonne, down $6.18 per tonne Premium hard coking coal, cfr Jingtang: $169.26 per tonne, down $0.08 per tonneHard coking coal, fob DBCT: $134.01 per tonne, unchangedHard coking coal, cfr Jingtang: $153.26 per...Read More

Alrosa said on Thursday its supervisory board will consider terminating the Russian diamond miner's participation in the share capital of Alrosa-Nyurba on September 10 by way of voluntary liquidation of Alrosa-Nyurba.The voluntary liquidation, in case it gets an approval from Alrosa's board and then from Alrosa-Nyurba's board and shareholders, would be completed by the end of 2020, it...Read More

The markets have been under steady pressure for so long that the combination of good news about Hong Kong, with the withdrawal of the extradition bill, and reports that high level US-China trade talks will resume in October, have been enough to lead a relief rally. This saw the three-month base metals prices on the London Metal Exchange rise by an average of 2.4% on Wednesday September 4.The rally...Read More

Mining Weekly and Engineering News Senior Deputy Editor Martin Zhuwakinyu unpacks the investments in Zimbabwe’s mining sector.AdvertisementRead More

PERTH (miningweekly.com) – South Africa’s Mineral Resources and Energy Minister, Gwede Mantashe, has urged continued foreign investment into the country’s resources sector, saying that the government is actively working to address electricity issues, which have constrained economic growth.Speaking on the sidelines of Paydirt’s African Downunder conference, in Perth, Mantash...Read More

(The opinions expressed here are those of the author, acolumnist for Reuters.) * Zinc stocks, price and time-spreads:* China's refined zinc imports: By Andy Home LONDON, Sept 5 (Reuters) - Where's the zinc surplus?The zinc market has been trading the supply surplus storysince April, the London price falling from theyear-to-date high of $2,958 per tonne to Monday's three-year lowof $2,190.True, bro...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points in pre-opening trade. Index futures responded to news that trade negotiations between China and the U.S. will resume early in October.The S&P 500 Index is scheduled to open above short term resistance at 2643.31.Index futures moved slightly higer following release of economic news at 8:15 and 8:30 AM EDT....Read More

Trading activity in China's domestic rebar market picked up on Thursday September 5 due to an open arbitrage window between physical and futures prices. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($510-514) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,640-3,660 yuan per tonne, up 30-40 yuan per tonneA gap of about 200 yuan per tonne between spot prices in eastern China and t...Read More