In May, the company signed a memorandum of understanding with Vast Resources to jointly exploit diamonds and it is currently identifying targets for further work.Read More
UC Rusal has started to export bauxite mined at Dian-Dian in Guinea's Bok?(C) province. Shipments follow the completion of the first stage of development at the deposit, which has capacity of 3 million tonnes per year of bauxite. As part of the first stage, Rusal has built the necessary roads, railway and other infrastructure needed...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia were stable this week following the Eid al-Fitr break, sources told Metal Bulletin on Tuesday June 19.Buyers expect new price offers later this week or early next week. The UAE returned to work on Monday June 18, but Saudi Arabia will continue celebrating Eid until Thursday June 21. UAE traders expect offers from China to...Read More
Mill-grade aluminium scrap prices in the United States have edged lower following declines on the London Metal Exchange, while most smelter-grade scrap prices maintained a steady footing.Prices for mill-grade aluminium scrap fell by 2 cents per lb across the board on Monday June 18, while the price for used beverage cans also dropped by 2 cents, according to American Metal Market's...Read More
The US Midwest copper premium in the United States has risen by a half-cent, with freight costs propelling the market to a nearly four-year high.American Metal Market's assessment of the US copper cathode premium rose to 6.5-7 cents per lb delivered to the Midwest on Tuesday June 19, the highest level since mid-July 2014. This marks the second upward move since late May, when t...Read More
RAPAPORT... Michael Hill has restructured its Australian leadership teamin an effort to focus more attention on its core brand. Tishara Mina, general manager for the retailer's Emma &Roe label (pictured, right), will take on responsibility for six of the company's 13 regions inaddition to overseeing Emma & Roe on an interim basis. Kevin Stock (left), whopreviously oversaw the entire M...Read More
RAPAPORT... Platinum jewelry demand grew in India and the US in thefirst quarter due to tax reforms and positive economic conditions, PlatinumGuild International (PGI) reported. US purchases at PGI's retail partners grew 12% for theperiod amid low unemployment and increased consumer confidence, combinedwith a drop in platinum prices, the trade organization said.. Sales in India rose 25% year on ye...Read More
RAPAPORT STATEMENT, June 19, 2018 ... The De Beers Group is refusing to allow its clients to disclose the legitimacy of diamonds from De Beers. All De Beers' rough diamonds are now opaque. That's 42% of the world's legitimate diamond production in 2017, and $14.993 billion of rough diamonds from 2015 through 2017.In a letter to clients, De Beers states: "In relation to programmes such as GIA's 'Mi...Read More
RAPAPORT... A new industry networking event, JewelPoint, is set tolaunch later this year, connecting private-label manufacturers with US buyers. JewelPoint will help bring together buyers and suppliers ofhard-to-source gold, loose gemstones, unbranded finished-gemstone jewelry andestate jewelry. The event is intended to complement regular trade shows ratherthan replace them. The first edition wil...Read More
More than 55 billion metric tonnes of resources are consumed each year and that figure is growing as rising urbanisation and the world's growing middle classes devour more minerals as they strive for better living standards.Janice Zinck, a director at Canmet MINING, the research, development and innovation incubator of Natural Resources Canada, told the inaugural Resources for Future Generations c...Read More
(IDEX Online) - Platinum Guild International (PGI) has released its Q1 Platinum Jewellery Business Review of the platinum jewelry market around the world revealing a number of trends that are encouraging market optimism including economic growth, young consumers, wedding traditions and self-purchasing habits. "Around the world we see opportunities for increased platinum jewelry consumption...Read More
Gem Diamonds paid just over $18.3-million to the governments of Lesotho and Botswana for extractive activities completed in the financial year ended December 31, 2017.Of this amount, about $18.1-million was paid to the government of Lesotho, with the balance of $230 000 paid to the Botswana government.AdvertisementThe payment to Lesotho included taxes of about $229 000 and $17.8-million...Read More
(IDEX Online) - The Lucapa Diamond Company and its partners have completed a sale of alluvial diamonds from the Lulo diamond project in Angola, with gross proceeds of $2.0 million. The average price per carat was $1,150, with the sale excluding a number of large white Specials and a colored Special which were not presented for sale and were held back for a future sale, the miner said. ...Read More
(IDEX Online) - The World Diamond Council (WDC), an industry group focused on preventing conflict diamonds from entering the legitimate global supply chain and protecting the value of natural diamonds, reaffirmed its commitment at the 2018 KP Intersessional meeting being held in Antwerp from June 18-22 to driving ongoing positive change through reform. The Intersessional is an annual forum...Read More
This notice is for a correction to Metal Bulletin's assessment of the Rotterdam duty-unpaid aluminium P1020 single number premium, published on June 19, 2018.Metal Bulletin has corrected its Rotterdam duty-unpaid aluminium P1020 single number premium, which was published incorrectly on June 19, 2018 due to an input error.The premium should have been $95 per tonne in-warehouse, not $100 per tonne i...Read More
Flat steel sales from Brazilian distributors dropped by 15.8% year on year in May, as the market was affected by the two-week truck drivers' strike last month.Sales reached 203,000 tonnes during the month, compared with 241,000 tonnes a year before, according to figures released by national flat steel association Inda on Tuesday June 19. Shipments also dropped by 9.8% from April's level of 225,100...Read More
The CIS export wire rod market picked up in the week ended Monday June 18, with customers accepting higher prices after a positive trend emerged in the billet segment and buying activity thawed following the end of the Islamic holy month of Ramadan.Metal Bulletin's weekly assessment of export prices for CIS-origin wire rod was $575-595 per tonne fob Black Sea on Monday, up from $560-580 per tonne...Read More
Prices for rebar and steel billet in the United Arab Emirates and Saudi Arabia were stable on low demand this week because of the Eid al-Fitr holiday that ended on Monday June 18 in the UAE and continues until Thursday in Saudi Arabia, sources told Metal Bulletin on Tuesday June 19.The Eid holiday, which started on June 15 and ended on June 17, marks the end of the Islamic holy month of Ramadan. H...Read More
Large traders in Russia's central region around Moscow have not resumed hot rolled (HR) and cold rolled (CR) steel sheet purchases despite lower offers from mills."We didn't buy material last week because according to our stocking agreement we can wait," one stockist trader told Metal Bulletin. "We had a short working week due to the [Russian public] holiday [June 11-12] and the World Cup slowing...Read More