RAPAPORT... Gem Diamonds has sold the Lesotho Legend, the 910-caratstone it unearthed at its Let??eng mine in January, for $40 million, the company said Tuesday. The miner claims the D color, type IIa stone -which it sold at tender in Antwerp to Samir Gems - is the fifth-largest gem-quality diamondever recovered. "We are delighted with the outcome of the sale of this iconicdiamond, which demo...Read More

Vietnam's ferrous scrap imports dropped 17% year on year in February, according to the country's Ministry of Finance.The country imported 299,301 tonnes of scrap last month, compared with 359,807 tonnes a year earlier.February's imports were only about half of the 593,119 tonnes of scrap that reached Vietnam's shores in January.Japan and the United States were...Read More

(IDEX Online) - Jewelers of America (JA), the national trade association for businesses serving the fine jewelry marketplace, has announced the winners of its 28th annual CASE Awards, a national jewelry design competition.   The CASE Awards recognizes JA Retail Members who exhibit creativity, artistry, style and excellence in jewelry design.   "The CASE Awards showcases the creativity...Read More

JOHANNESBURG (miningweekly.com) – Aim-listed Botswana Diamonds has started drilling at the Ontevreden kimberlite pipe, which is part of the company’s Vutomi Joint Venture in South Africa and which contains significant quantities of G10 and G9 garnets.“We are pleased to announce the commencement of drilling at the Ontevreden kimberlite pipe. We know that the pipe contains sig...Read More

RAPAPORT...Stellar Diamonds has struck a $10.8 million (GBP 7.7 million)takeover agreement with Newfield Resources, raising its hopes of bringing itsSierra Leone mine into production, the company said Monday. Stellar, which operates the Tongo-Tonguma project, last week said it might not be able toaccess enough financing for it to remain in operation if talks fell through. Under the deal, Stellar s...Read More

UK ferrous scrap prices for monthly deliveries to consumers in March have rebounded, recovering losses from last month, with the prices of almost all grades up by ?30 per tonne amid firm demand, trade sources told Metal Bulletin this week.Only borings bucked the trend, with the price increasing by only ?25 per tonne.Trend-indicating grades in the UK such as HMS 1&2 (old steel) and OA (plate and...Read More

(IDEX Online) - The GIA will offer demonstrations of the GIA iD100TM gem testing device that distinguishes natural diamonds from synthetics and diamond stimulants at the Baselworld show in Switzerland from March 22-27.   It will be the first time that the GIA iD100TM gem testing device has been demonstrated at a trade show in Europe. This device uses advanced spectroscopic technology to disti...Read More

RAPAPORT... India's Central Bureau of Investigation (CBI) has arrestedHasmukh Shah in its ongoing investigation into Winsome Diamonds, Reuters reportedMonday. Shah is a former director and authorized signatory ofForever Precious Jewellery and Diamonds, a subsidiary of the Winsome Diamondsgroup. Both companies have been accused of defaulting on more than $939 million(INR 61 billion) in credit provi...Read More

JOHANNESBURG (miningweekly.com) – The “exceptional quality” 910 ct D-colour Type IIa diamond recovered from LSE-listed Gem Diamonds’ Letšeng mine, in Lesotho, in January, achieved a price of $40-million on tender in Antwerp, on Monday. Reflecting its significance, the diamond, which is the fifth-largest gem-quality diamond ever recovered, has been named the Leso...Read More

(IDEX Online) - Gem Diamonds announced that the exceptional quality 910 carat D color Type IIa diamond recovered from the Let??eng mine in January was sold for $40 million at tender in Antwerp on 12 March.   Reflecting its significance, the diamond, which is the fifth largest gem quality diamond ever recovered, has been named The Lesotho Legend, the miner said.    Clifford Elphick...Read More

Lead was the strongest performer on the London Metal Exchange on Tuesday March 13 - closing 2.2% higher.8,000 tonnes of lead was freshly cancelled in Antwerp this morning giving fresh support to prices while stocks tighten once again. LME warrants are also tightly held with one entity holding 30-39% of warrant positions."Lead is carrying out some much needed base-building after breaking below $2,4...Read More

VANCOUVER (miningweekly.com) – Explorer Diamcor Mining has launched a nonbrokered private placement worth C$5-million in an effort to address the insufficient recoveries of water from the settling dams at its Krone-Endora at Venetia project, in South Africa's Northern Cape province.The TSX-V-listed miner is finalising installation of a paste thickening plant and associated operational eq...Read More

(IDEX Online) - Russian diamond mining giant ALROSA said it had  prepaid $450 million of bank loans.   ALROSA made an early repayment of a $250 million loan from Rosbank, and a $200 million portion of the existing Raiffeisenbank loan, both raised in December 2017. The repayments reduce its debt by more than 27% to $1.17 billion.   The bank loans were repaid with the cash proceeds r...Read More

Movements in flat steel import prices in the United Arab Emirates and Saudi Arabia varied by commodity this week but overall demand was still not strong, sources told Metal Bulletin on Tuesday March 13.UAEHot-rolled coil (HRC) was being offered to the UAE at $620-630 per tonne cfr from China and at $640-650 per tonne cfr from India, while buyers were bidding $620-630 per tonne cfr.Metal Bulletin's...Read More

The Turkish steel scrap market remained quiet on Tuesday March 13, with the mills in the country holding back from deep-sea scrap purchases since the end of last week.The mills stepped back from the market after the Section 232 tariffs were officially signed in the United States, imposing a 25% import duty on all steel products. The Turkish mills are now watching the market to see what direction i...Read More

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Price slide continues as SHFE stocks...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of  market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as s...Read More

SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More

SHANGHAI, Mar 13 (SMM) – Nonferrous metals saw mixed trading today as aluminium led losses with a drop of nearly 2%. SHFE lead fell over 1%, while copper and tin edged down. Zinc and nickel inched up.The ferrous complex fell across the board as coking coal led the slump with a drop of more than 3%. Coke fell over 2%. Rebar, iron ore, and hot-rolled coil edged down.Copper: The SHFE 1805 contr...Read More

The latest metal markets news and price moves to start the North American day on Tuesday March 13. Base metals prices on the London Metal Exchange edged higher during morning trading, with most metals recovering from Monday's lull."The LME complex is a mixed bag with zinc and nickel finding some [arbitrage]-related buying and aluminium [finding] some light consumer demand to help lift [prices] off...Read More