Vale's fall in iron ore production in the first quarter of 2018 will not affect the Brazilian miner's output guidance for the year, executive officer for ferrous minerals and coal Peter Poppinga said this week."We continue [to be] committed to the 390 million tonnes production target,"' he told analysts during a conference call on Thursday April 26.Vale's first quarter iron ore output&nb...Read More
However, some of the nuggets were "partially embedded in rock matrix", meaning further processing is required to gain an accurate assessment of the grade of the sample.Read More
Turkish steel mills continued to book deep-sea scrap for May deliveries on Thursday April 26, with prices remaining largely stable, Metal Bulletin has heard.The mills in the country booked four deep-sea cargoes on Thursday, totaling 130,000 tonnes, according to market sources.A steel mill in the Iskenderun region booked a European cargo, comprising 20,000 tonnes of HMS 1&2 (75:25), 5,000 tonnes of...Read More
Diamond market seasonallyquiet. Polished prices steady, but profit margins squeezed after April rough increase.Polished trading more profitable than rough manufacturing. Petra 1Q roughprices +5%. Let??eng 1Q average price +98% to $3,276/ct. Miners sold more caratsthan recovered in 1Q: De Beers sales -38% to 8.8M cts., production +15% to 8.5Mcts. Alrosa sales -6% to 13.3M cts., production -17% to 7...Read More
India's largest iron ore miner NMDC lowered its domestic prices last week, in line with the softening overseas prices. The miner fixed its lump ore price at 2,990 rupees ($44.68) per tonne and iron ore fines price at 2,560 rupees per tonne, it said last week. Both prices are down 100 rupees per tonne from the level announced on April 4 when the miner had rolled over its prices set in March. NMDC's...Read More
CEO Fabio Schvartsman said the company had "shown remarkable flexibility and performance during a very complex" March quarter, in which it had experienced lower volumes across several divisions. Read More
(IDEX Online) - Organizers of the first Bharat Diamond Week at the Bharat Diamond Bourse (BDB) in Mumbai, India, said the show exceeded expectations. The Bharat exchange is already planning the next edition of the fair which it says will be even bigger and feature new elements. The first-ever Bharat Diamond Week was opened by US Consul General Edgard D. Kagan in the presence of BDB President Anoo...Read More
JOHANNESBURG (miningweekly.com) – Diamond producer Lucara Diamonds has recovered a 327 ct, top white gem diamond from its 100%-owned Karowe diamond mine, in Botswana. Eight diamonds greater than 100 ct have now been recovered at Karowe since the beginning of the year, including a 472 ct diamond.AdvertisementLucara will hold an exceptional stone tender in June that will include for sale...Read More
The price of steel billet imports into Egypt fell again this week while local rebar prices remained unchanged, sources told Metal Bulletin on Thursday April 26.The country's biggest producer, Ezz Steel, is still offering rebar at E ?12,528 ($706) per tonne ex-works, including 14% VAT, while Beshay Steel, also a...Read More
The TSX- and US-listed major produced 590,000 ounces of gold in the three months to March 31, a 9.9% drop on the same period last year and an 8.7% drop on the December quarter.Read More
(IDEX Online) - CIBJO, the World Jewellery Confederation, has paid tribute to the memory of a former president, Friedrich (Fritz) Schwarzer, who died recently in Austria, after decades of public service in the jewelry industry, both in his native country and internationally, and more than 60 years of experience in the trade. He headed the World Jewellery Confederation from 1993 through 1996. Born...Read More
SHANGHAI, Apr 26 (SMM) – Nonferrous metals continued their weak performance on Thursday April 26. SHFE zinc saw a wider decline of close to 3%. Copper, aluminium, lead and nickel dipped. Tin closed slightly higher.The ferrous complex fell across the board. Iron ore led with a loss of over 1%. Coke dropped 0.62%. Rebar, hot-rolled coil and coking coal edged down.Copper: The SHF...Read More
Steel billet prices in Turkey continued to fall over the past week because of poor demand and low scrap prices, sources said on Thursday April 26.Offers from the CIS region fell to $525-535 per tonne cfr, from last week's $530-540 per tonne, although customers in Turkey were bidding $520 per tonne cfr or...Read More
(IDEX Online) - Lucara Diamond Corp. has recovered a 327-carat, top white gem diamond from its 100% owned Karowe diamond mine in Botswana. Eight diamonds greater than 100 carats have now been recovered at Karowe since the beginning of the year, including a 472-carat diamond announced earlier this month. Lucara will hold an Exceptional Stone Tender in June that will include the 327 an...Read More
RAPAPORT... Gem Diamonds' revenue nearly tripled in the first quarteramid strong demand for its rough and the sale of the fifth-largest diamond inhistory. Revenue surged 174% year on year to $106.2 million for thethree months ending March 31, the miner said Thursday. The company sold 32,412carats from its Let??eng mine inLesotho across two tenders during the period. In March, the company sold the...Read More
(IDEX Online) - Gem Diamonds Limited said strong demand for Let??eng's large high-quality white rough diamonds has continued, as evidenced by the average price achieved of $3,276 per carat during the first quarter of this year. Two tenders were held in the quarter, with a total of 32,412 carats sold for $106.2 million, achieving an average price of $3,276 per carat. The diamond which achieve...Read More
China's domestic rebar prices retreated on Thursday April 26 after a weakening of the futures market. Domestic Eastern China (Shanghai): 3,860-3,900 yuan ($611-617) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,730-3,750 yuan per tonne, down 10-20 yuan per tonne Traders lowered their rebar prices on seeing the futures contract for the long steel product trade below Wednesday's sett...Read More
Base metals prices on the London Metal Exchange were weaker across the board by an average of 0.6% this morning, Thursday April 26. Aluminium, nickel and zinc led the decline with losses ranged between 0.7% and 1%, while the rest were all down by 0.3%, with the three-month copper price at $6,955 per tonne. This follows a mixed performance on Wednesday when consolidation set in following recent wee...Read More
It said Thursday it had joined the WCA to work on securing the long-term sustainability of the coal industry."Our products are delivered to 1,900 customers in 42 countries across the globe, so we know the challenges the coal sector faces now," the company said."Working with other actors in the global market, we look forward to continue contributing to responsible development of the coal industry,...Read More