(IDEX Online) - Sales of jewelry, timepieces and other valuable gifts remain depressed in Hong Kong, despite a Covid lull during October.It was one of the worst-hit retail sectors, according to the country's Census and Statistics Department reported today. Cosmetics, tobacco and alcohol fared even less well.Year-on-year sales for the month were down 27 per cent, showing little sign of improve...Read More

The Kingdom of Saudi Arabia is making a huge push to further develop its mining sector and will hold an auction of several blocks next year, according to a government official. The move is part of the country's Vision 2030 programme, which aims to drive economic diversification away from oil and gas, with the kingdom identifying mining as the third pillar for the Saudi Arabian economy. The go...Read More

The London Metal Exchange nickel price fell by 1.7% at the 5pm close on Wednesday December 2, leading a broad-based dip in the complex, although prices remain around recent highs supported by a lower dollar index. The three-month nickel price closed at $16,000 per tonne on Wednesday, compared with Tuesday's 5pm closing price of $16,278 per tonne. The lowest price for the stainless steel additive...Read More

(IDEX Online) - Struggling Petra Diamonds has completed the sale of its exploration vehicle Sekaka.It's been bought by rivals Botswana Diamonds, which will benefit from the high-grade KX36 kimberlite pipe 260km north-west of Gaborone, in the Kalahari, as well as a fit-for-purpose kimberlite processing plant and an extensive diamond exploration database.Botswana Diamonds believes the database...Read More

Global miner Vale was expecting long-term growth in production from its nickel and copper operations, despite foreseeing lower volumes than were previously predicted, according to a document filed with Brazilian securities and exchange commission CVM.The Brazil-based company estimated that nickel output would average 200,000 tonnes per year in 2021-23, and 220,000 tpy in 2024-25. This showed lower...Read More

(IDEX Online) - The owner of an 18lb solid gold eagle encrusted with 763 diamonds has lost the latest round of court battle with insurers.Ron Shore, president of a company called Forgotten Treasures International, reported the treasure stolen during a robbery in British Columbia, Canada, in 2016 as he was placing it in the trunk of his car. He had it specially made as the prize in an internat...Read More

Treatment charges (TCs) paid for zinc concentrates fell to a 27-month low in November, continuing their downtrend while the market reacted to news that production would be stopped at Vedanta's Gamsberg mine in South Africa.A collapsed pit at the Gamsberg mine on November 17 buried 10 miners, with at least one confirmed fatality. The mine, which produces around 250,000 tonnes per year of zinc in co...Read More

London Metal Exchange base metals prices have stabilized at recent highs on the morning of Wednesday December 2, supported by a low dollar index and positive developments in Covid-19-related news. After six days of inclines, copper's three-month price opened at $7,666.50 per tonne on Wednesday, broadly flat from the 5pm close on Tuesday of $7,694.50 per tonne. The price did reach $7,723 per tonne...Read More

European producers of heavy steel plate have been looking for a domestic price rise despite the fact that supply has been exceeding demand, sources told Fastmarkets on Wednesday December 2.Official offers for domestic heavy plate from Italian re-rollers were heard at ?,?550 ($660) per tonne ex-works, and producers were expected to push offers further upward in their attempt to compensate for the r...Read More

Domestic cold-rolled coil prices in Europe increased in the week to Wednesday December 2 due to tight supply from local mills and higher feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?650-670 ($780-804) per tonne on December 2, up by ?,?10-20 per tonne week on week from ?,?640-650 per tonne.The assessment was base...Read More

Domestic prices for hot-rolled coil moved up again across Europe in the week to Wednesday December 2 due to a materials shortage in the market, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?565.77 ($678.69) per tonne on Wednesday December 2, up by ?,?2.02 per tonne from ?,?563.75 per tonne on December 1. The index wa...Read More

Prices for hollow steel sections in Europe moved up again during the past week with feedstock costs continuing to rise on a lack of supply, sources told Fastmarkets on Wednesday December 2.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?680-700 ($816-840) per tonne on Wednesday, up from ?,?660-680 per tonne one week before.The availability of...Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Production at Escondida fell 7.6% to 99,900t compared with the prior year period. Despite higher output being seen at Collahuasi throughout 2020 compared with 2019, production in October fell 17.Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Under the agreement struck in April, Rio could earn up to 75% of the licences totalling 506sq.km, adjacent to First Quantum Minerals' Kansanshi mine."Under the terms of the earn-in agreement, Rio Tinto had two full field seasons to complete the initial work programme and they completed the [$3 million] programm...Read More

Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsDigbee talks the rebirth of independent investment researchSPONSOREDdigbee'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningThe government owns 34% of Oyu Tolgoi and the remainder is held by TSX-listed Turquoise Hill Resources, which...Read More

Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsDigbee talks the rebirth of independent investment researchSPONSOREDdigbee'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningThe Vancouver-headquartered company has over the past 18 months completed a C$1.2 billion (US$928 million) sh...Read More

Pantoro bullish on bigger production profileSPONSOREDpantoro limitedGenesis opens new chapter at UlyssesSPONSOREDgenesis mineralsDigbee talks the rebirth of independent investment researchSPONSOREDdigbee'Best discovery in my time': De Grey on the march at HemiSPONSOREDde grey miningThe package includes $211 million of secured equipment financing and a $9 million downpayment facility to hel...Read More

Brazilian miner Vale plans to achieve capacity for 400 million tonnes per year of iron ore by the end of 2022, the head of its ferrous division, Marcello Spinelli, said on Wednesday December 2.In the long term, the company also expected to optimize and debottleneck operations at current facilities to deliver a further 50 million tpy, raising capacity to 450 million tpy.That does not mean Vale expe...Read More

Iron ore exports from Brazil fell by a modest 0.4% year on year in November, the country's ministry of economy said on Tuesday December 1. Brazilian iron ore exports totaled 29.15 million tonnes last month, slightly down from 29.27 million tonnes in November 2019. Daily average volumes were also down by 0.4% to 1.46 million tonnes, from 1.46 million tonnes, ending a two-month series of daily expor...Read More

Turkish steel mills have resumed their deep-sea scrap bookings, confirming another uptick in the prices, sources told Fastmarkets on Wednesday December 2.But overall demand remained slow, the sources said.A steel mill in the Iskenderun region booked a Baltic Sea cargo comprising 24,000 tonnes of HMS 1&2 (80:20) at $358 per tonne, 6,000 tonnes of bonus at $368 per tonne and 1,500 tonnes of rail at...Read More