RAPAPORT... Petra Diamonds has sold a 299.3-carat rough stone to Stargems for $12.18 million, after recovering the diamond at its Cullinan mine in South Africa earlier this year.The "exceptional" white, type IIa, gem-quality diamond fetched $40,701 per carat, exceeding the $34,386 per carat Petra achieved for the 424.89-carat Legacy of the Cullinan Diamond Mine in May 2019, the company said F...Read More
(IDEX Online) - Israel's rough diamond exports rose sharply in February, with Dubai accounting for 16 per cent of all foreign sales.Exports fell last year as the global pandemic hit, but were up by 21.9 per cent year-on-year in January and February, according to the Ministry of Economy and Industry.Israel's rough diamond exports were $231m over the two months, compared to $190.3m in the...Read More
(IDEX Online) - Petra Diamonds has announced another high-value sale from the iconic Cullinan mine - a 299.3-carat white, Type IIa gem for $12.18m.It follows the sale last November of the Letlapa Tala collection of blue rough diamonds, also recovered from Cullinan and weighing a total of 85.6 carats to De Beers and Diacore for just over $40m.The "exceptional" new find (pictured) was sold to Starge...Read More
(IDEX Online) - Sales of jewelry in Hong Kong were depressed again in January, down almost 32 per cent year-on-year. Covid remains a key factor, with new cases hitting a mini-peak towards the end of the month and a two-week quarantine deterring tourists.In addition, the lunar-based Chinese New Year fell later than usual (12 February) which delayed consumer spending from January.Next month...Read More
In northern Nevada, the gold mining industry has dominated for decades. Now Nevada lawmakers want to tap into that vein of wealth to ease the pandemic-induced budget crunch.Read full newsRead More
How Top Gold Mining Stocks Performed in 2020 Gold mining stocks and the GDX saw strong returns in 2020 as gold was one of the most resilient and ...Read full newsRead More
In northern Nevada, the gold mining industry has dominated for decades. Now Nevada lawmakers want to tap into that vein of wealth to ease the pandemic-induced budget crunch.Read full newsRead More
After months of strength, markets have started looking a bit unstable now. Market participants are shifting to relatively safer bonds from overvalued stocks. Investors can consider these top three defensive TSX stocks to take shelter if markets continue to remain volatile.Algonquin Power and UtilitiesUtility stocks have a relatively low correlation with broader markets. That’s why investors...Read More
Mar 08, 2021 Guest(s): Pierre Lassonde Chairman, Franco-Nevada Historically, the gold miners have led the bullion market in price direction, and right now, the equities are suggesting a rebound in price is underway, said Pierre Lassonde, chairman emeritus of Franco-Nevada. "Right now, there is a bit of a discrepancy and it started about last week where in fact the gold equities are up when the g...Read More
Here are five Fastmarkets stories you might have missed on Monday March 8 that are worth another look.The supply shortage in the European steel market, which has been driving up domestic prices since late 2020, will persist until the end of this year at the very least, market sources told Fastmarkets.With...Read More
A high dollar index caused lead's three-month price to drop by 1% to its lowest since January at the close on Monday March 8, while copper's futures price inched close to the $9,000 per tonne mark with a 1% rise. Buying interest in lead has been affected by the dollar index moving up to 92.39 on Monday at 5pm, the highest levels since November 2020, "driven by President Biden's mammoth $1.9 trilli...Read More
Rio Tinto will begin construction on a new plant that will recover tellurium from copper refining at its Kennecott copper mine in Utah, United States, it said on Monday March 8.Rio Tinto is investing $2.9 million in developing the plant with a capacity to produce approximately 20 tonnes per year of tellurium and expects production to start in the fourth quarter of 2021.Global tellurium production...Read More
Here are five Fastmarkets stories you might have missed on Monday March 8 that are worth another look.The supply shortage in the European steel market, which has been driving up domestic prices since late 2020, will persist until the end of this year at the very least, market sources told Fastmarkets.With...Read More
Jack ChanPosted Mar 8, 2021Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Short-term is on SELL signal.Short-term signals can last for days and weeks and are more suitable for traders. Speculation is now at the lowest level in years.Data is supportive for overall higher silver prices.Our ratio is on new BUY...Read More
President Joe Biden said yesterday the America Rescue Plan was "going to start almost immediately".He said more than 85% of American households would get direct payments of $1,400 per person.Elsewhere market futures were mixed.In China, the National People's Congress is holding its week-long annual meeting in Beijing, where it's already announced plans to boost GDP by 6% this year and to overhaul...Read More
The manganese ore market is starting to see the effects on supply that are the results of severe weather between December 2020 and February this year, sources have told Fastmarkets.Severe rains battered the country for several weeks, causing flooding that washed away parts of rail infrastructure and disrupted production operations.There was a delayed reaction in the market to the weather reports,...Read More
Manganese ore prices rose again during the week to Friday March 5 after several miners raised offer prices.Prices continued to be driven by rising freight costs as well as currency fluctuations and concerns about lower South African exports in the coming months.Fastmarkets' 44% cif Tianjin, manganese ore index moved up by 37 cents per dry metric tonne unit (dmtu) to $5.50 per dmtu on Friday, from...Read More
Speaking to an online discussion ahead of this week's Prospectors and Developers Association of Canada annual convention, Mantashe had acknowledged the challenges facing the sector but declared the country open for business.He outlined investments by Sibanye-Stillwater, Impala Platinum, Anglo American's Kumba Iron Ore and junior Orion Minerals, saying the announcements indicated South Africa was s...Read More
The Indian silico-manganese export market should cement recent price gains that have pushed up the high end of the range to a level last seen in April 2018 on firm domestic fundamentals that are influencing exporter offer prices, industry sources told Fastmarkets. Indian trade sources said firm domestic demand has encouraged higher export offer prices to customers in Southeast Asia, the Middle Eas...Read More