LONDON – De Beers will let buyers reject more diamonds at a sale next week as the mining company shows almost unprecedented flexibility to ease a growing crisis.The Anglo American unit has told customers they can refuse to buy half of the stones offered that are smaller than three-quarters of a carat, according to people familiar with the situation, who asked not to be identified as the matt...Read More
Stainless steel scrap prices in the United States have continued to climb following an uptick in London Metal Exchange nickel prices."I wish the recent price improvement was due to increased demand, but unfortunately the price improvement is solely attributable to the London Metal Exchange nickel price and speculation of potential nickel supply issues," one dealer told Fastmarkets."[There's] lots...Read More
The suspension of iron ore exports from SL Mining's operations at Marampa in Sierra Leone have left stockpiles of more than 500,000 tonnes of concentrates at the mine in the Port Loko district, according to the company.An export ban was imposed on SL Mining, a subsidiary of Gerald Group, by the country's new minister for mines and mineral resources, Foday Rado Yokie, from July 24, on the expiry of...Read More
Canadian diamond miner Mountain Province is no longer complying with the minimum bid price requirement of the Nasdaq and has until February 10 to regain compliance with the stock exchange’s listing rules.Based on the closing bid price for the last 30 consecutive business days from June 28 to August 12, the 49%-participant in the Gahcho Kué mine in Canada is not in compliance with the...Read More
The conspicuous absence of Turkish mills from the East Coast ferrous scrap export market has started to take its toll, with Boston docks lowering prices effective from Tuesday August 13 and headwinds in global rebar prices likely to drag scrap prices lower.Fastmarkets' assessment for the steel scrap No1 heavy melt, export yard buying price, delivered to yard Boston, stands at $230 per gross t...Read More
Steel mills in Turkey have remained out of the deep-sea scrap markets so far this week with trading limited by the Eid al-Adha religious holiday in the country, sources told Fastmarkets on Wednesday August 14.The Turkish market and those in other Middle Eastern territories will be closed until August 15 for Eid al-Adha; no new deals for cargoes were expected to be heard before then.As a...Read More
JOHANNESBURG (miningweekly.com) – Replacing diesel machines with zero-emitting fuel cell electrical equipment can reduce the cost of underground mine ventilation and lower health risk, says Hydrogen Infrastructure (HySA) director Dr Dmitri Bessarabov, who adds that renewable hydrogen can also be used to mitigate air pollution at Eskom power stations.HySA, which has a clean mining ventil...Read More
Physical iron ore prices rebounded on Wednesday August 14 amid an easing of the trade tensions between China and the United States, but seaborne buying remained lackluster.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $90.72 per tonne, up by $1.47 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $89.22 per tonne, up by $1.47 per tonne.Fastmarkets' ind...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreBHP, private tender, joint cargo, 110,000 tonnes of 62.4% Fe Newman fines, sold...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumThe US$5.5 billion project will extend the life of the 100-year old mine for many decades and see it produce 140,000 tonnes of copper a year following a seven-year transition from openpit operations."Chuquicamata is not just another project, it is unique. Its complexity and magnitude have no equal in the Chilean market;...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumThe company completed construction of three acid storage tanks in July with capacity of 7,500 tonnes and a new acid unloading facility."The pure sulphuric acid in these tanks is diluted down to a weak sulphuric acid mining solution via the new acid handling and delivery system. This weaker acid solution is used in the we...Read More
Quality emerges at Galan's blue-chip lithium addressSPONSOREDgalan lithiumThe culmination of a long permitting process for a 340km road along the southern flank of the Brooks Range, extending west from the Dalton Highway to the south bank of the Ambler River, the DEIS isRead More
Robust buying activity kept seaborne coking coal prices largely supported on Wednesday August 14.A cargo of premium low-vol hard coking coal was traded at $170 per tonne cfr China while a shipment of mid-vol product in the same segment changed hands at $156.50 per tonne fob Australia.Another cargo of premium mid-vol materials was sold at $150 per tonne fob Australia. A shipment of premium low-vol...Read More
The following Fastmarkets minor metals prices changed on Wednesday August 14:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,950-6,150 per tonne from $5,950-6,200Antimony MMTA standard grade II, ddp China, yuan/tonne: 36,500-38,000 yuan per tonne from 37,000-38,500...Read More
U.S. equity index futures moved lower this morning. S&P 500 futures were down 39 points in pre-opening trade. Index futures responded partially to an inversion in the Treasury yield curve by two year and ten year treasuries and partially to sharp weakness in European equity indices.Tilray dropped $4.62 to $41.40 after reporting a bigger than expected quarterly loss.Canada Goose fell $1.01 to $...Read More
PRIVATE BLOG - Gold To Be or Not to Be?Private blog posts are exclusively available to Socrates subscribers. To sign-up for Socrates or to learn more, please visit Ask-Socrates.com.https://ask-socrates.com/Read More
Red, red, in every direction we turn today... red.The Dow Jones shed 800 scarlet points on the day.Percentage wise, both S&P and Nasdaq took similar whalings.The S&P lost 86 points. And the Nasdaq... 242.And so the market paid back all of yesterday's trade-induced gains - with heaps of interest.Worrying economic data drifting out of China and Germany were partly accountable.Chinese industr...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday August 14:Aluminium scrapClean HE9 extrusions, delivered consumer UK, ?/tonne: ?1,285-1,325 per...Read More
The Society for Women in Mathematics at Mines - better known as SWiM - has been honored for its professional development work by the Association of Women in Mathematics.SWiM, the Mines student chapter of AWM, is the 2019 recipient of the Association of Women in Mathematics' Professional Development Award.AWM has more than 100 student chapters at universities across the U.S. and around the world. T...Read More
The government of Armenia has published the results of a long-awaited public audit of Lydian International's (TSX: LYD) Amulsar gold project, paving the way for the company to move forward with development of the mine.The Amulsar project, in Armenia's mountainous south, has been illegally blocked since June 2018 by locals and environmental activists, who claim the operation would threaten several...Read More