Ukraine's ArcelorMittal Kryvyi Rih is preparing to resume production of pig iron and steel after the stoppage last week that was caused by railroad department workers going on strike, the company said in a press release on Monday May 21.The strike began on May 16 and paralyzed the production process at the mill. Locomotive operators, assistant operators and shunting operators refused to work on th...Read More
Xing was 19.9%-shareholder CGN Mining's nominee on the board, an entitlement the company gained when it increased its interest in Fission in January 2016 by subscribing to a number shares for C$82 million (US$58 million at the time).CGN nominated its CFO and executive director Chen as Xing's replacement.Chen has 22 years' experience in the financial field and previously held senior roles with CGNP...Read More
Import prices for rebar in Singapore picked up some strength over the past week on steady buying among end-users.A position cargo of Chinese materials was heard to have been traded at $560 per tonne cfr Singapore. There was also market chatter about traders securing Middle East-origin rebar around $560-565 per tonne cfr Singapore via tender, with about 15,000-20,000 tonnes of the product to be off...Read More
Continue...Robert Shiller is an American economist, academic, and best-selling author. He currently serves as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center for Finance. Mr. Shiller has been a research associate of the National Bureau of Economic Research (NBER) since 1980, was Vice President of the American Economic Ass...Read More
SHANGHAI, May 21 (SMM) – Shandong's industrial production will face a series of restrictions in the following month as Shanghai Cooperation Organisation (SCO) Summit will be held in Qingdao on June 9. From May 20 to June 20, construction sites within 100 km of Qingdao will be completely suspended; steel plants within 300 km of the city have been required to cut 40-50% of their...Read More
CENTENNIAL, Colo., May 21, 2018 - Westwater Resources, Inc. (Nasdaq: WWR) (the "Company"), a U.S.-based energy materials company focused upon the exploration and development of new sources of graphite, lithium and uranium, commented today on the U.S Department of Interior's Critical Minerals List. For reference purposes, a full text of the Critical Minerals List can be found on the Federal Regis...Read More
At the La Hueca project, two new copper targets were discovered on the western side, with channel chip sampling returning 17.3m at 3.87% copper, 0.46g/t gold at one, Target 5, including 6m at 9.39% Cu and 0.98g/t Au.A total of 50 rock samples were collected from the second target, Target 6, and sent for analysis, with teams collecting additional samples and prospecting new streams. At the Por...Read More
I have long lamented the incessantly click-bait "gold ready to explode higher any day" and "silver Continue...Read More
China's domestic rebar prices continued to decrease on Monday May 21 on weak trading activity amid losses in the futures market.Domestic Eastern China (Shanghai): 3,950-4,000 yuan ($619-627) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,890-3,920 yuan per tonne, down 10-20 yuan per tonne The weakness in the futures market during the day resulted in buyers taking a wait-and-see appr...Read More
SHANGHAI, May 21 (SMM) – China’s nonferrous metals futures closed higher except for aluminium and nickel on Monday May 21. Lead led the gains with a rise of over 1.4%, zinc grew nearly 1.1%, tin rose almost 0.8%, and copper inched up.Ferrous metals dropped across the board with iron ore leading the loss and closing 3% lower. Coke fell nearly 2%, hot-rolled coil and rebar lost over 1.8%...Read More
The PEA outlines an openpit mine for the gold camp with preproduction capex of US$380 million, an after-tax NPV (5% discount) of $367 million and an IRR of 25% with a 2.8-year payback.It estimates an average annual production over the initial 10 years of the 11-year mine-life of 188,500 ounces, at an all-in sustaining cost of $595/oz over the life of mine.President and CEO Phillip Walford said the...Read More
RAPAPORT... Stornoway Diamond Corporation has reduced its production-and-salesexpectations for this year, as its shift to underground mining has resulted in lowergrades.The company now plans to produce between 1.35 million and1.4 million carats from its Renard mine in Canada in 2018, a drop from its initialforecast of 1.6 million carats, it said in a statement last week. It alsolowered its project...Read More
After a strong first quarter of 2018, when more ferrous scrap produced in the United States was bought both at home and abroad, it appeared that the country's scrap sellers were well placed to fend off buyers' attempts to push market prices downward.Price increases in the US domestic scrap market, combined with increasing mill capacity utilization rates and an 80% bounce in US scrap export volumes...Read More
(IDEX Online) - The Israel Diamond Institute Group of Companies (IDI) will host 38 companies this year, including three new exhibitors, in its national pavilion at the June Hong Kong Jewellery & Gem Fair. The event will take place from June 21 - 24 at the Hong Kong Convention & Exhibition Centre. In addition, five Israeli companies will be exhibiting in other locations throughout t...Read More
The Bernstein analyst has gone into bat for London-listed miners' value to the global economy, saying it was ludicrous the companies digging up the materials needed for all other industries were not sitting on higher valuations.Read More
RAPAPORT... Jewelry sales at Richemont - the owner of Cartier and VanCleef & Arpels - increased 9% in the past fiscal year, making the division theluxury retailer's largest product group by revenue. Proceeds from the category rose to $5.33 billion (EUR 4.54billion) in the 12 months that ended March 31, while sales in the watchdivision grew 1% to $5.13 billion (EUR 4.37 billion), Richemont repo...Read More
(IDEX Online) - ABN AMRO, a long-time major financier to the global diamond and jewelry businesses, is closing its branches in the United States and Dubai, according to a transcript of comments made by officials to journalists and analysts. The American branch is being closed due to the bank's small portfolio. Meanwhile, the Dubai branch is being shuttered as part of a decision...Read More
The Turkish steel producers went quiet again in the deep-sea scrap markets on Monday May 21, amid sluggish demand for finished steel and the continuing weakening of the country's lira.The mills in the country booked only three deep-sea cargoes last week, with prices going down to $345 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20) in the most recent transaction.Market sources said that the mi...Read More
SHANGHAI, May 21 (SMM) – Spot copper was mostly offered at a discount of 50 yuan/mt to a premium of 20 yuan/mt over the SHFE 1806 contract on Monday May 21 in the Shanghai market. This compared with a discount of 80-20 yuan/mt on Friday May 18.Sellers raised offers from last Friday amid an optimistic outlook as US-Sino trade tension eased. The SHFE 1806 contract stood firm above 51,000 yuan/...Read More