The export market for CIS-origin pig iron has shown signs of falling due to the weakening scrap market, sources have told Metal Bulletin."The scrap price in the US domestic market is likely to go down in May," a trader said. "But what is more important now is that the scrap price in Turkey is falling - that is a strong indicator for the pig iron market."Metal Bulletin's export price assessment for...Read More
The miner, which floated on AIM last year, has released a preliminary economic study it says shows the viability of restarting the openpit project.Read More
There's a new financial system on its way. No one is exactly sure what it's going to look like, but rest assured it's coming soon to a central bank near you. It might involve the SDR or perhaps Cryptos or something else entirely. It's just part of our economic evolution. All systems eventually perish due to excessive debt and this one is getting there real fast. How much longer will it be? No one...Read More
Levon has filed an updated preliminary economic assessment for Cordero, which outlines capex of US$570 million for a 29-year mine at 46.5g/t silver-equivalent, to produce concentrates containing 231 million ounces silver, 2.86 billion pounds of zinc, 1.99 billion pounds of lead and 0.35Moz of gold.Read More
Turkish steel producers skipped Thursday April 19 with no deep-sea bookings, although another booking from the previous day came to light.A steel producer in the Iskenderun region booked a European cargo of 30,000 tonnes of HMS 1&2 (80:20) at $348 per tonne cfr on Wednesday. However, the cargo was sold before a Baltic Sea trade was done at...Read More
Physical iron ore traded at much higher prices on Thursday April 19 following a surge in the paper market.Metal Bulletin 62% Fe Iron Ore Index: $68.45 per tonne cfr Qingdao, up by $2.57 per tonneMetal Bulletin 58% Fe Premium Index: $54.92 per tonne cfr Qingdao, up by $1.82 per tonneMetal Bulletin 65% Fe Iron Ore Index: $86.50 per tonne cfr Qingdao, up by $2.60 per tonneMetal Bulleti...Read More
(IDEX Online) - Zebra Diamonds Ltd., the Botswana diamond polishing factory part of the group of companies of Belgium-based IGC Group, has celebrated its 10th anniversary. An event was held in the presence of Botswana's Ministry of Mineral Resources, Green Technology and Energy Security, De Beers executives, the Governor of the Bank of Botswana, management and staff. In 2007,...Read More
While manganese ore production for the March quarter dropped by 10% over the December period, output for the first nine months of the financial year rose by 13% to 4.2 million tonnes.Read More
SHANGHAI, Apr 19 (SMM) – Nonferrous metals futures carried over their strong performance today, with SHFE nickel surging over 4% and aluminium jumping over 3%. Zinc gained close to 3%, copper rose over 2%, lead went up over 1%, and tin inched up slightly.The ferrous complex also rose across the board. Iron ore led a gain of 6.5%, coke surged over 3%, coking coal rose 2.5%, with rebar up 2% a...Read More
JOHANNESBURG (miningweekly.com) – Russian diamond miner Alrosa has opened a representative office in Mumbai, India, on the territory of the Bharat Diamond Bourse.The office will not conduct any trading activity and will be concentrated on strengthening ties with the Indian market, the company said on Thursday.AdvertisementMumbai office director, Jim Vimadalal, would work on promoting the com...Read More
(IDEX Online) - The International Institute of Diamond Grading and Research (IIDGR), part of the De Beers Group, provides the following statement regarding the press release distributed by Diamond Services on 17 April 2018 titled: Lab Alert - HPHT-grown diamonds might escape detection as synthetics, once they are treated with irradiation: "IIDGR confirms that its instruments AMS2, SYNTHdete...Read More
Iron ore shipments for the quarter were 58 million tonnes, up 8% year-on-year, but down by 6% quarter-on-quarter.UBS had forecast a strong rise in shipments to 68Mt, with BHP even missing RBC Capital Markets' more conservative estimate of 61Mt.The company said the result was impacted by unplanned car dumper maintenance issues, with work now underway to improve availability.Production for the nine...Read More
Turkish prices for imported and exported billet have gone down over the past week, in line with the low demand for both finished and semi-finished steel products and weakening imported scrap costs, sources said on Thursday April 19.Metal Bulletin's weekly price assessment for billet imports into Turkey was $520-530 per tonne cfr, widening downward from last week's $525-530 per tonne.Suppliers in t...Read More
JOHANNESBURG (miningweekly.com) –The Lesotho government has announced its intention to renew JSE-listed Gem Diamonds’ Letšeng mining lease until 2034.The mining lease may be further extended if necessary in relation to any underground development of the mine thereafter.Advertisement“I would like to thank the government of Lesotho for its ongoing support, which will allow G...Read More
However its iron ore production guidance was reduced, due to car dumper issues, and its Olympic Dam guidance was also reduced after a slower than planned ramp-up following major smelter maintenance.Its full year guidance for petroleum and coal were unchanged and its copper-equivalent production was expected to rise 6%.On the other side of the world and at the smaller end of town, junior Goldex Res...Read More
(IDEX Online) - Gem Diamonds Limited announced that Lesotho has agreed to renew the firm's Let??eng mining lease until 2034. The country's prime minister and minister of mining announced their intention to renew the mining lease at the Lesotho Mining Roundtable event held on 18 April, as part of The Commonwealth Heads of Government Meeting (CHOGM) currently being held in London, t...Read More
Imported billet prices in Egypt fell this week while local rebar prices remained unchanged, sources told Metal Bulletin on Thursday April 19.The country's biggest producer, Ezz Steel, is still offering rebar at E ?12,528 ($707) per tonne ex-works, including 14% VAT, while Beshay Steel, also a major domestic producer, is offering rebar at E ?12,525 per...Read More
SHANGHAI, Apr 19 (SMM) – Spot copper in the Shanghai market was offered at a premium of 270-350 yuan/mt over the SHFE 1805 contract on Thursday April 19. This compared with a premium of 260-330 yuan/mt in the previous day.Sellers raised offers to a premium of 350 yuan/mt in the morning as SHFE copper gained nearly 1,000 yuan/mt overnight. However, premiums were lowered to 260-300 yuan/m...Read More
JOHANNESBURG (miningweekly.com) – Aim-listed Firestone Diamonds recovered 192 604 ct of diamonds from its Liqhobong mine, in Lesotho, in the three months to March 31.Recoveries were 6.6% higher than the previous quarter, resulting in a year-to-date total of 572 320 ct. Advertisement"In the first nine months of the financial year, Liqhobong has recovered fewer carats than planned ow...Read More