The export market for pig iron from the Commonwealth of Independent States was quiet this week because sellers and buyers preferred to wait to see whether prices would fall, sources told Metal Bulletin on Thursday May 10."The busheling-grade scrap price in the United States didn't decrease, while shredded scrap went down by $10-20 [per tonne] in May. That could cause a reduction in pig iron prices...Read More
Turkish steel mills have extended their absence from the deep-sea scrap markets due to increasing offer prices and sluggish finished steel demand in the country's export markets, sources said on Thursday May 10.The mills were expected to book more cargoes for May to replenish their low stock levels, but instead they decided to fall silent with the latest increase in prices.A steel mill in the Marm...Read More
For example, Ironbark said this week it was in the process of recruiting a mining crew and development team, and was "targeting" a shipment of fuel and materials to the site as part of "planning" to begin preliminary works at Citronen - including starting the boxcut, portal and decline into the Beach zone ore body. Read More
SHANGHAI, May 10 (SMM) – Nonferrous metals futures inched up for the most part on Thursday May 10. Tin gained nearly 0.5%, while copper, zinc, and lead went up slightly. Aluminium edged down, and nickel fell close to 0.4%.The ferrous complex rose across the board except for iron ore, which lost over 0.4%. Hot-rolled coil gained nearly 1%, while rebar, coking coal, and coke edged up.Copper: T...Read More
Iron ore prices at ports in China softened on Thursday May 10 while those for seaborne cargoes picked up some strength.Metal Bulletin 62% Fe Iron Ore Index: $66.83 per tonne cfr Qingdao, up by $0.37 per tonne Metal Bulletin 58% Fe Premium Index: $54.40 per tonne cfr Qingdao, up by $0.11 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.20 per tonne cfr Qingdao, unchangedMetal Bulletin 62% Fe Chi...Read More
The company agreed to acquire the advanced Brazil project from Vale SA in December for US$8 million.Vale had put Vermelho's resource at more than 1 million tonnes of contained nickel and 43,000t of contained cobalt.Read More
SHANGHAI, May 10 (SMM) – Spot copper was mostly offered at a premium of 10-100 yuan/mt over the SHFE 1805 contract on Thursday May 10 in the Shanghai market. This compared with a premium of 20-100 yuan/mt on the previous day. Transactions of high-quality copper cooled from the previous days, with cargoes mostly offered at a premium of 80 yuan/mt, SMM learned. Trading of standard-quality...Read More
Turkish billet prices have remained stable over the past week with demand for material being very limited, sources said on Thursday May 10.The billet mills in the CIS region tried to increase their offer prices, in line with the uptick in Turkish imported scrap prices. But, due to poor demand for rebar, none of the customers...Read More
Dealers preparing for Las Vegas shows. Polished inventory rising due toslow trading. Prices firm, but buyers pushing for generous credit terms andtaking more goods on memo. Signet Jewelers raises consignment intake +6% to$606M at end of FY2018. Chinese consumer sentiment improving as 1Q gold, silver, jewelry sales +8% to $11.7B.Rough market stable ahead of De Beers and Alrosa sights and AntwerpRou...Read More
Randgold Resources' March quarter was marked by lower production at its major operations, which hit cash flow despite cost reductions at some operations.Read More
SHANGHAI, May 10 (SMM) – Sales of new-energy passenger vehicles in China came in at 73,145 units in April, up 150% year on year and up 31.3% month on month, according to data from China Passenger Car Association (CPCA) released on Wednesday May 9.The jump in April suggested a continuous growing demand, Cui Dongshu, secretary general at CPCA, was quoted as saying in local media reports.The A0...Read More
(IDEX Online) - The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) have announced that as a result of the weak response to registration for the 38th World Diamond Congress due to be held in Tel Aviv, Israel, from June 19 to 21, they have reached a decision to postpone the Congress. The Congress, the biennial gathering of the WFDB a...Read More
The following has been adapted from a chapter Towards Mining Vision 2030, by Joel Netshitenzhe, ANC NEC member and executive director of the Mapungubwe Institute for Strategic Reflection (Mistra) in a book on The Political Economy of Mining in South Africa, to be published in 2018 by Mistra.South Africa’s mineral endowments present a unique opportunity for a new industrialisation drive and a...Read More
The company produced a record 68,088 ounces of gold during the three-month period, jumping 357% year-on-year.Read More
The price of imported steel billet and local rebar prices have been mostly unchanged in Egypt this week, sources told Metal Bulletin on Thursday May 10.The country's rebar biggest producer, Ezz Steel, is still offering material at E ?12,528 ($705) per tonne ex-works, including 14% VAT, while Beshay Steel, also a major domestic producer, is offering rebar at E ?12,525 per tonne ex-works including 1...Read More
(IDEX Online) - De Beers said that it has successfully tracked 100 high-value diamonds along the value chain during the pilot of its industry blockchain platform, marking the first time a diamond's journey has been digitally tracked from mine to retail. An immutable and secure digital trail was created for a selection of rough diamonds mined by De Beers as they moved from the mine to cutter...Read More
JOHANNESBURG (miningweekly.com) – Diamond conglomerate De Beers Group has successfully tracked 100 high-value diamonds along the value chain during the pilot phase of its new industry blockchain platform.A selection of rough diamonds, mined by De Beers, were tracked through an immutable and secure digital trail that was created by the platform called Tracr as they moved from the mine to cutt...Read More
A proposed mining code review in Ghana and Mauritania's rejection of a key permit to expand a project dealt it a double blow, Bloomberg reported.Kinross had also flagged that Mauritania's government wanted to "enter into mutually beneficial discussions respecting all of Kinross' activities in Mauritania" in its quarterly results this week. On a positive note, shares in junior Midas Gold (TSX:...Read More
China's domestic rebar prices continued to trend downward on Thursday May 10 amid persistently weak demand. Domestic Eastern China (Shanghai): 3,890-3,940 yuan ($611-619) per tonne, down 60 yuan per tonneNorthern China (Beijing): 3,870-3,920 yuan per tonne, down 10 yuan per tonne Rebar futures were trading below Wednesday's settlement price of 3,596 yuan per tonne for most of the day before c...Read More