The South African diamond beneficiation market is no longer globally competitive, says rough and polished diamonds and precious stones trading association World Federation of Diamond Bourses president Ernest Blom. He tells Mining Weekly that the local diamond beneficiation industry has “shrunk significantly” from its historical global peak 20 years ago. He emphasises that, while the lo...Read More

Primary copper smelting capacities have been partly suspended in important regional hubs in China such as Jiangxi province, sources told Metal Bulletin on Thursday June 7.The action was the result of the country's environmental inspection teams being dispatched to 10 provinces to review the progress made in curbing pollution since the end of May.In Jiangxi, home to more than 600,000 tonnes per yea...Read More

RAPAPORT... India's KGK Group has bought a stake in Unique Settings, theNew York-based retailer said last week. The two companies announced the partnership at the JCK LasVegas show, noting that Unique Settings' just-in-time services - which allowthe company to deliver a finished product within seven days - complementedKGK's current offering. Unique Settings, with approximately 200 employees, spec...Read More

(IDEX Online) - Signet Jewelers reported total sales were $1.5 billion, up 5.5%, in the 13 weeks ended May 5, its fiscal 2019 first quarter.   Total same store sales performance was down 0.1% versus the prior year quarter, however.   The firm reported a net loss of $496.6 million in the quarter, compared with a profit of $78.5 million in the year-earlier period due to a non-cash impairme...Read More

The implementation of enabling mining policies by government is key in safeguarding the South African diamond industry from further decline and a worrying contraction, says Global Diamond Network consultant Dr John Bristow. Bristow states that the local diamond mining industry is experiencing a “notable” decline in production, caused predominantly by unfriendly mineral policy and a neg...Read More

Comex copper prices ticked higher on Thursday June 6 due to bullish sentiment on the back of Escondida wage negotiations and a weakening dollar.Copper for July settlement on the Comex division of the New York Mercantile Exchange edged 4.5 cents or 1.4% higher to $3.307 per lb. "Copper price sentiment remains bullish on Thursday June 7; the three-month benchmark has hit a 2018 high...Read More

Diamond mining company De Beers Consolidated Mines (DBCM) has concluded the process of selecting six local black economic empowerment (BEE) partners as part of an impressive R600-million to R700-million, eight-year transport empowerment initiative at the Venetia diamond mine, in South Africa’s Limpopo province, where the Anglo American group company is at an advanced stage of investing $2-bi...Read More

Toromocho copper mine, the only major greenfield project in Peru, will increase annual capacity by 45% in 2020, owner Aluminum Corp of China (Chinalco) said. The state-owned company plans to spend $1.3 billion on the ramp-up which will boost annual mining output to $2 billion worth of concentrate per year upon completion, Chinalco chairman Ge Hoglin said at a groundbreaking ceremony in the Peruvia...Read More

Russian diamond mining major Alrosa announced on Thursday that it would hold auctions in Hong Kong and Vladivostok for large rough diamonds. The Hong Kong auction will start on June 13 and will run until June 27. The Vladivostok auction would start on June 18 and conclude on June 29. In both cases, the rough stones being auctioned will each weigh more than 10.8 ct.Both auctions are of gem quality...Read More

The latest metal markets news and price moves to start the North American day on Thursday June 7.Copper prices on the London Metal Exchange surged to a fresh 2018 high during morning trading on Thursday June 7, leading the complex after supply-side disruptions pushed prices up."The upswing is continuing this morning, especially in the case of copper. It has climbed to nearly $7,300 per tonne in Lo...Read More

GABORONE – Botswana Diamonds (BoD) wants to buy liquidated BCL Mine's shares in a diamonds exploration joint venture project, its managing director said on Thursday.BCL mine group, which has been under liquidation since 2016, is selling its 51% stake in Maibwe Diamonds for an undisclosed amount.Advertisement"We have put in an offer to the liquidator of BCL and we hope to get a respo...Read More

The United States' formerly robust reinforcing bar import market is showing signs of revival, market participants said, with at least one US importer booking some 30,000 tonnes of Turkish rebar recently.After President Donald Trump levied hard 25% Section 232 tariffs against steel imported from North American free Trade Agreement countries and the European Union, Turkish mills firmed up...Read More

The World Diamond Council (WDC) System of Warranties (SoW) has entered a public review period following the completion of an industry review.The SoW review and reform process is part of the WDC’s strategic plan and is intended to help industry participants better implement and demonstrate their commitment to responsible business conduct when buying or selling rough and polished dia...Read More

Domestic reinforcing bar prices in the United States remain steady as market participants await the impact of the Trump administration's decision to impose Section 232 tariffs of 25% on imported steel products from Canada, Mexico and the European Union.American Metal Market's latest price assessment on June 6 for domestic rebar was $35-36 per hundredweight ($700-720 per short ton), uncha...Read More

Turkish billet import prices have dropped over the past week, while domestic prices have been increasing slightly, sources said on Thursday June 7.Metal Bulletin's weekly price assessment for billet imports into Turkey was $510-520 per tonne cfr on June 7, down from $520-530 per tonne assessed last week on May 31.The price decrease is because of the downturn in...Read More

JOHANNESBURG – Hundreds of artisanal and illegal miners in Kimberley in the Northern Cape will on Thursday receive mining permits from the Department of Mineral Resources. Deputy minister of mineral resources Godfrey Oliphant will hand over two mining permits to artisanal miners, also known as Zama Zamas, in Kimberley. AdvertisementThe artisanal miners successfully negotiated...Read More

Domestic rebar and wire rod prices in Turkey have weakened on a US dollar basis due to the strengthening Turkish lira over the past week, sources said on Thursday June 7.Metal Bulletin's weekly price assessment for domestic rebar was $540-555 per tonne ex-works on June 7, down from $550-565 per tonne last week on May 31.The lira was trading at TRY100 to $21.83 on June 7, up...Read More

Sentiment in the CIS billet export market improved on Thursday June 7 after the resumption in scrap and rebar trading between Turkey and the United States earlier in the week.Some market participants said the improvement had yet to be backed up by deals at higher prices, but Metal Bulletin's CIS billet export index has pushed up by $8 per tonne since Tuesday to reach $506 per t...Read More

Turkish rebar export prices have started to recover from the United States' decision to impose a 25% tariff on steel imports from the EU, Canada and Mexico, sources said on Thursday June 7.The US' decision was expected to increase demand for Turkish rebar since the tariff also applied to regions that had been given temporary exemptions and Turkish steel mills became more competitive.Mills in Turke...Read More

The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet CIS,...Read More