RAPAPORT... Mountain Province has taken out an additional $33 million loan from its largest investor to cover the loss of income caused by the cancellation of its May diamond tender.The miner will receive the short-term loan on top of its existing $25 million revolving-credit facility from Dunebridge Worldwide, whose owner is a 32% shareholder in the company, Mountain Province said Wednesday. Moun...Read More

RAPAPORT... Industry leaders in Antwerp visited Angola this week in search of closer trade relations with the up-and-coming diamond-producing nation.The African country sells only a fraction of its rough diamonds to Belgium, with 90% of goods reportedly going to Dubai. Some 20 CEOs from Antwerp-based diamond companies met with local officials to explore a stronger collaboration, the Antwerp W...Read More

Turkish steel mills booked one further cargo late on Wednesday at a higher price ahead of the post-Ramadan Eid al-Fitr holiday, Fastmarkets heard on Thursday May 13.The cargo came to light after the indices had closed for the day.A steel mill in the Iskenderun booked a Baltic sea cargo comprising 18,000 tonnes of HMS 1&2 (95:5) at $510 per tonne.Read More

(IDEX Online) - Mountain Province Diamonds has arranged a short-term $33m loan with Irish billionaire Dermot Desmond, to ease its "near term liquidity needs".The Canadian miner has struggled with the three-week Covid-enforced closure of its Gahcho Kue mine (pictured), which in turn forced it to cancel its May diamond sale in Antwerp.That, combined with the high costs of maintaining its winter acce...Read More

RAPAPORT... A diamond weighing nearly 101 carats was the star of the Christie's Geneva auction, bringing in more than $14 million.The rectangular-cut, D-color, internally flawless stone, called the Spectacle, fetched $141,000 per carat at the May 12 Magnificent Jewels sale, which garnered $63.5 million in total, Christie's said Wednesday. Manufactured from a rough mined at Alrosa's Zarnitsa pipe i...Read More

(IDEX Online) - Petra Diamonds has agreed a $6m settlement, with no admission of liability, over claims that it breached the human rights of illegal miners at its Williamson mine, in Tanzania.It follows a hard-hitting NGO report and a legal case brought on behalf of 71 people who alleged they suffered abuse at the hands of Petra's security personnel.The UK-listed miner, which bought the huge...Read More

RAPAPORT PRESS RELEASE, May 12, 2021, Mumbai ... The Rapaport Group is pleased to announce the appointment of Prashant Bhojani as the new Chief Marketing Officer for Rapaport India.Bhojani (pictured) will drive the marketing and communication activities of Rapaport India. He will lead the marketing of a powerful set of new initiatives that will add value for Rapaport's Indian clients while continu...Read More

Glencore has joined fellow global commodities trader Trafigura in holding talks to purchase a portion of Cliveden Trading's copper book, informed sources told Fastmarkets on Thursday May 13.Cliveden, which last year was said to have traded more than 1 million tonnes of copper...Read More

A summary of aluminium roller and recycler Novelis' fiscal fourth-quarter 2021 operating results, released on Wednesday May 12. In brief Novelis shipped 983,000 tonnes of rolled aluminium product in the fiscal fourth quarter ended March 31, up by 21.21% from the same period last year.Net sales increased by 33.20% year on year to $3.63 billion during the three-month period, primarily...Read More

Strong demand from the Chinese automotive industry, combined with rising aluminium scrap values, pushed aluminium ingot ADC 12 prices to a record high this week.ADC 12  is widely used in the production of alloy wheels.Fastmarkets' weekly price assessment for aluminium ingot ADC12, exw dp China was 19,000-19,300 yuan($2,947-2,993) per tonne on Wednesday May 12, up 5.8% or 1,000-1,300 yuan per...Read More

Nornickel resumed ore mining at full capacity at its Oktyabrsky underground mine on Thursday May 13, the company has said, after flooding at the site meant that it was offline for nearly two months.Operations were suspended on February 24 after an inflow of groundwater was reported. Nornickel said that the mine had now recovered to its full capacity for a daily mined volume of 14,100 tonnes.Mining...Read More

Myanmar's major copper and nickel mining operations have been suspended with the transport of equipment, raw materials and finished goods no longer feasible after February's military coup, Fastmarkets learned. "Basic supplies like explosives could not be transported into the region. How could blast mining be possible?" one source familiar with current condition of Sagaing, the country's copper and...Read More

Nickel and lead futures prices on the LME returned to levels unseen since the last week of April on the morning of Thursday May 13, with the fallout continuing after the release of the latest US inflation figures. Nickel's price was at $17,295 per tonne on Thursday at 9am, a 2.8% fall from Wednesday's closing price of $17,797 per tonne, which had itself been a 0.7% fall. The metal had reached...Read More

Towards Sustainable Mining Tailings Guidance Aligns with Global StandardSPONSOREDthe mining association of canadaPAM puts itself in the middle of Thailand 4.0SPONSOREDAuroch powers up nickel explorationSPONSOREDauroch mineralsSaturn still shooting for the stars at Apollo HillSPONSOREDsaturn metalsDrilling intersected the longest high-grade intersection to date in what is interpreted to be a feeder...Read More

Towards Sustainable Mining Tailings Guidance Aligns with Global StandardSPONSOREDthe mining association of canadaPAM puts itself in the middle of Thailand 4.0SPONSOREDAuroch powers up nickel explorationSPONSOREDauroch mineralsSaturn still shooting for the stars at Apollo HillSPONSOREDsaturn metalsThe EBITDA result was 25% higher than BMO Capital Markets estimate of €37.4 million thanks to hig...Read More

Guido Kerkhoff has become chief executive officer of German metals distributor Kl??ckner & Co, Fastmarkets has heard.Kerkhoff took office on Thursday May 13, replacing Gisbert R? 1/4 hl, who has been a member of the company's executive board since 2006 and its chairman since 2009.Before this, Kerkhoff had been Kl??ckner's deputy chairman of the board of directors in Europe since September 2020. He...Read More

Towards Sustainable Mining Tailings Guidance Aligns with Global StandardSPONSOREDthe mining association of canadaPAM puts itself in the middle of Thailand 4.0SPONSOREDAuroch powers up nickel explorationSPONSOREDauroch mineralsSaturn still shooting for the stars at Apollo HillSPONSOREDsaturn metals"I am excited to not only more than double our footprint within this prolific mineral district, but al...Read More

Towards Sustainable Mining Tailings Guidance Aligns with Global StandardSPONSOREDthe mining association of canadaPAM puts itself in the middle of Thailand 4.0SPONSOREDAuroch powers up nickel explorationSPONSOREDauroch mineralsSaturn still shooting for the stars at Apollo HillSPONSOREDsaturn metalsThe troubled operation has been impacted by COVID-19, a pitwall failure, beset by funding and permitti...Read More

The CIS export market for steel billet turned quiet on Thursday May 13 when buying activity in the majority of outlets faded.Customers in the Middle East-North Africa (Mena) region, as well as in some Asian countries, left the market to celebrate the end of the Islamic holy month of Ramadan, while buyers from China withdrew bids after domestic long steel prices as well as the futures market became...Read More

Domestic prices for hot-dipped galvanized steel coil in Europe increased again over the week to Wednesday May 12 on support from the combination of strong demand and a material shortage, sources told Fastmarkets.ArcelorMittal increased its official coil offers by ?,?50 ($61) per tonne on May 12 so as a result, new offers for HDG have reached ?,?1,250 per tonne ex-works on May 13, market sources sa...Read More