Gold has big year in 2020 and outlook for this year robust. Learn about monetary expansion and gold future prices.Read More
The gold futures price reached US$1,767/ounce this week before retreating, which was the second time it has surpassed US$1,760 in the past two months, marking some of gold's highest levels in several years.Read More
Iron ore prices increased on Tuesday January 5, with active trading in the seaborne and port markets supported by record high prices in coke futures, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $167.86 per tonne, up $2.57 per tonne62% Fe low-alumina fines, cfr Qingdao: $168.00 per tonne, up $2 per tonne58% Fe fines high-grade premium, cfr Qingdao:&nbs...Read More
RAPAPORT... Sales at Mene, an online retailer that prices its precious-metal jewelry based on weight, soared more than 60% last year as the up-and-coming company ramped up its operations.Revenue jumped 64% to CAD 21.4 million ($16.8 million) in 2020, the Toronto, Canada-based jeweler reported Monday in a preliminary trading update. The average order value rose 63% to CAD 1,530 ($1,201), outwe...Read More
China-based minor metals producer Vital Materials has acquired the industrial site of PPM Pure Metals at Langelsheim, Germany. Vital will operate the assets through a newly established subsidiary, Vital Pure Metal Solutions GmbH (VPMS), that will be fully integrated into Vital's global network as a platform to provide sales and recycling solutions to the global customer base, Vital told Fastmarket...Read More
RAPAPORT... The US economy is not expected to return to pre-pandemic levels until at least the latter end of the year, according to the National Retail Federation (NRF)."As we closed out 2020, it was an end to a whirlwind year whose challenging economic environment will almost certainly continue in 2021," NRF chief economist Jack Kleinhenz said Monday. "The coming year might be just as eventf...Read More
RAPAPORT... The Botswana government has allowed Lucara Diamond Corp. to mine at the Karowe deposit until 2046, enabling it to pursue its plans to launch underground operations.The country's minister of mineral resources, green technology and energy security approved Lucara's application for a 25-year renewal of its mining license, the company reported Monday. The new permit is effective immed...Read More
An overview of the chrome ore and alloy markets on Tuesday January 5 and their latest price moves. China Tsingshan and Baosteel increased their ferro-chrome tender prices by $31 per tonne for January. Market sentiment was propelled higher after ferro-chrome producers adjusted up their offer prices. The imported ferro-chrome price surged...Read More
RAPAPORT PRESS RELEASE, January 5, 2021, Las Vegas... Diamond trading was seasonally slow in December as the industry's focus shifted to retail and as diamantaires took their end-of-year break. Sentiment received a boost from strong holiday e-commerce sales, the distribution of Covid-19 vaccines, and the US approval of a $900 billion coronavirus stimulus package.Polished prices firmed as supply de...Read More
RAPAPORT... The passing of Henry Verstandig, founder of Verstandig & Sons Diamonds, is a sad occasion for the diamond industry. It marks the end of a generation that formed the foundation of New York's diamond district. Henry and his brother Willy were true diamantaires who reflected the honest values and integrity of the diamond trade. They were traditional De Beers sightholders who loved the...Read More
(IDEX Online) - Tiffany & Co is to sell the most expensive piece of jewelry in its 183-year history - a necklace with an 80-carat diamond that is expected to fetch at least $10m.The New York-based jeweler, founded in 1837, declined to say what it paid for the gem but told the fashion Bible Women's Wear Daily (WWD) the necklace's price tag would be "within the eight-figure range"...Read More
(IDEX Online) - Lucara is to operate the Karowe mine, in Botswana for another 25 years after the government extended its mining license.The move will allow it to pursue an underground expansion program costing more than $500m, with first ore anticipated from underground in 2026. The company anticipates financing to be in place by the second half of this year.Canada-based Lucara is known for its la...Read More
For the first quarter of 2021, the quarterly benchmark main Japanese port (MJP) aluminium premium has settled at $130 per tonne, its highest level since it was settled in July-September 2018 at $132 per tonne.Market participants said that this high premium was unexpected, and attributed it mostly to the open Chinese arbitrage window, which at premiums as high as $150 per tonne was driving aluminiu...Read More
(IDEX Online) - Masked men armed with metal bars made off with over $500,000 of jewelry in a lightning raid on a store in southern Israel.The gang of three cleared the contents of the shelves into large sacks, emptied the safe and were gone in under two minutes.Toni Roytman, owner of Roytman Diamonds, a family business at a mall in the city of Beersheba, said in a Facebook post that "due to techni...Read More
Peru reported a year-on-year increase in both zinc and tin production during November 2020, while output of copper and lead fell on the same basis of comparison, the country's ministry of energy and mines, Minem, said on Tuesday January 5.Copper output was down from a year before but remained close to the highest levels seen through 2020, the data showed. Production hit 206,387 tonnes in November,...Read More
Chile's output of copper decreased by 3% year on year in November 2020 amid a drop in volumes from large mines such as Escondida and Collahuasi, national copper commission Cochilco said on Tuesday January 5.Production in Chile totaled 485,100 tonnes during November, down from 500,100 tonnes a year earlier, data from Cochilco showed.Government restrictions to fight the Covid-19 pandemic in Chile re...Read More
Chilean copper producer Codelco is to go ahead with the $1.38-billion Rajo Inca expansion project at its Salvador mine, the state-owned company said on Tuesday January 5.The company expects commercial production to begin in the second half of 2022 and aims to achieve full production capacity of 90,000 tonnes per year in the first half of 2023. The mine's current output is 60,000 tpy, the company s...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipBardoc eyes long-term growth in prime goldfields locationSPONSOREDbardoc goldDrill results multiply value options in front of YandalSPONSOREDyandal resourcesWith around $100 million in the bank, the real work now starts on proving up the potential of the 5km by 5km porphyry clu...Read More
London Metal Exchange spreads are usually a key driver for duty-unpaid aluminium premiums in Europe but this was not the case toward the end of 2020, leaving market participants wondering what will be main driver in 2021. Since late November, the Rotterdam duty-unpaid premium has been steadily rising despite spreads trading at levels that would usually bring it down. Fastmarkets assessed the ...Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.With 22 months of pre-stripping to be undertaken, production is scheduled for the second semester of 2022. Salvador produced about 60,000t of copper in 2020.Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Jefferies said the demand would "more than offset" a slowdown in Chinese consumption.Read More
Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The state agency said a significant change in the country's production profile was anticipated with existing copper mines expected to reduce their production 31% by 2031 compared with 2019 levels.Read More