RAPAPORT... Angola is halfway through the construction of a $77 million diamond hub that it hopes will create revenue sources beyond the sale of rough diamonds.The hub is located in Angola's diamond province of Lunda Sul. It will contain a main diamond-cutting facility, a diamond evaluation and training center, and smaller manufacturing plants, Sodiam, Angola's state-owned diamond company, said la...Read More
Turkish steel mills extended their silence in the deep-sea scrap markets, but are now pushing forlower prices, sources said on Tuesday June 23.Turkey's steelmakers have mostly stayed away from the deep-sea market since booking two US cargoes at the beginning of the last week.On Monday June 15, a steel mill in the Izmir region booked a US cargo at $265 per tonne cfr for HMS...Read More
(IDEX Online) - The British jewelry retailer Beaverbrooks reported a 30 per cent surge in sales on the first day of post-lockdown trade.Customers flocked to the family firm's 59 newly-opened high street stores in a retail frenzy after three months of restrictions were lifted on 15 June.The average spend on watches and jewelry items was up by almost a quarter (23 per cent) year-on-year.And tot...Read More
(IDEX Online) - Zimbabwe's ambitious plans to treble diamond production to 11m carats a year are under threat from COVID-19, says a human rights watchdog.The country has pinned its hope on exploiting rich reserves to revive an economy crippled by triple-digit inflation and high unemployment. But it has amassed a glut of unsellable diamonds, according to the Harare-based NGO Centre for Na...Read More
(IDEX Online) - British miner BlueRock Diamonds says revenue almost trebled in 2019 at its Kareevlei mine, in the Kimberley region of South Africa.It was up 190 per cent from $1.75m in 2018 to $5.1m in the year ended 31 December 2019, according to final results issued yesterday.BlueRock sold 12,675 carats during 2019, up 124 per cent from 5,657 carats in 2018 and the average price per carat r...Read More
The aluminium duty-paid market in Europe is set to come under increasing pressure due to fears of excess stock arriving from Canada and a weak Japanese market. On Monday, Bloomberg reported that the United States is considering re-imposing tariffs on aluminium imports from Canada, according to people familiar with the matter. An announcement could be made by the end of the week. Sources told...Read More
Chinese alumina market participants are closely watching Hydro's recent power outage to see whether the incident could cause a long-term supply alumina disruption, they told Fastmarkets on Tuesday June 23. "Although it might impact only around 100,000 tonnes of alumina supply to the world, we are still uncertain as to whether [the Paragomias bauxite mine] will be back on time, especially when the...Read More
The London Metal Exchange three-month zinc price declined during morning trading on Tuesday June 23 on poor United States home sales figures and US-China trade concerns, while continued stock drawdowns in copper pushed the metal's price higher. LME zinc's outright price was recently at $2,051 per tonne, falling from a morning high of $2,088 per tonne, while turnover was at more than 4,000 lots as...Read More
Markets underwent a knee-jerk downward reaction earlier this morning, Tuesday June 23, when it looked like the phase one trade deal between the United States and China was over, but markets snapped back once US President Donald Trump announced the deal was "fully intact". The fact that a White House official said it was "over" only to retract that later suggests there have at least been discussion...Read More
Rupert Resources on a Roll at IkkariSPONSOREDCardinal heading down familiar gold roadSPONSOREDcardinal resourcesSarama right in the middle of big exploration, corporate build-upSPONSOREDsarama resources Exore excels in Cote d'IvoireSPONSOREDexore resourcesThe major's affiliate Rio Tinto Exploration Canada (RTEC) will use RAB drills to test copper showings, structural, geophysical, geochemical...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesA slump in economic activity in the wake of COVID-19 saw copper demand collapse, with prices plunging to a four-year low of $2.10/lb mid-March.However, BofA analysts said a spike in M1 and M2 money supply metrics indicated a recovery was on the way, with copper prices set to rise as a result.Artemis all set thanks to unique approac...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe PFS looked at converting the lower portion of the current sub-level cave to a series of block caves. The study was based on a probable ore reserve of 220Mt at 1.1% copper, 0.Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesHudbay's move follows the US federal government filing its initial brief with the US Court of Appeals for the Ninth Circuit last week, with both calling for the Read More
ArcelorMittal has increased its offers for hot-rolled coil in Northern Europe to ?,?440 per tonne ex-works, market sources told Fastmarkets on Tuesday June 23.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was ?,?388 ($435.58) per tonne on Tuesday June 23, down by just ?,?2.11 per tonne from ?,?390.11 per tonne on June 22. The index was down by ?,?3.56 per tonne week...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe company's British Virgin Islands subsidiary Skyland Mining will issue the bonds at 99.886% of face value, bearing interest at 2.8% per annum and maturing on June 23, 2023.The bonds are expected to be rated BBB- by Standard & Poor's.Artemis all set thanks to unique approachSPONSOREDartemis resourcesVancouver-based China Gold...Read More
European steelmakers have increased their official offer prices on hot-rolled coil in Northern Europe although trading activity remained low, sources told Fastmarkets on Tuesday June 23.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?388.00 ($435.58) per tonne on Tuesday, down by ?,?2.11 per tonne from ?,?390.11 per tonne on June 22.The index was down by ?,?3....Read More
Turkish long steel producer Izmir Demir ??elik (ID??) has started to work on plans to double its steel mill capacity, the company said to Turkey's Public Disclosure Platform (KAP) late on Monday June 22.At the company's recent board meeting held on June 22, IDC decided to start the technical project and other research works to increase its steel mill capacity from 1.4 million tonnes per year to 2....Read More
Flat-rolled steel sales volumes from Brazilian distributors recovered from April but still decreased by 22% year on year in May due to the effects of Covid-19 restrictions still apparent in the market, local distributor association Inda said on Tuesday June 23.Distributors sold 209,800 tonnes in May, down from 269,100 tonnes a year before, according to Inda. Volumes, however, increased when compar...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia remained firm over the past week in the expectation that the region will soon recover from the Covid-19 outbreak, sources told Fastmarkets on Tuesday June 23.UAEOffer prices for hot-rolled coil (HRC) from China were heard in the UAE at $460-470 per tonne cfr, while offers from India came in at around $450 per ton...Read More
Markets underwent a knee-jerk downward reaction earlier this morning, Tuesday June 23, when it looked like the phase one trade deal between the United States and China was over, but markets snapped back once US President Donald Trump announced the deal was “fully intact”. The fact that a White House official said it was “over” only to retract that later suggests there have at l...Read More