Turkish steel mills have extended their absence from the deep-sea scrap markets due to increasing offer prices and sluggish finished steel demand in the country's export markets, sources said on Thursday May 10.The mills were expected to book more cargoes for May to replenish their low stock levels, but instead they decided to fall silent with the latest increase in prices.A steel mill in the Marm...Read More

Shares in Erdene Resource (TSX:ERD), one of the very few companies that has successfully navigated Mongolia's ever-changing policies on foreign mining investment, were off to the races on Thursday after the miner bumped up mineral resource estimates for its Altan Nar gold-polymetallic project in Mongolia.The Canadian miner said indicated and inferred gold equivalent resources had increased by who...Read More

For example, Ironbark said this week it was in the process of recruiting a mining crew and development team, and was "targeting" a shipment of fuel and materials to the site as part of "planning" to begin preliminary works at Citronen - including starting the boxcut, portal and decline into the Beach zone ore body.     Read More

The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday.- - - - - EVENTS: *Rwanda releases inflation data for April.GLOBAL MARKETS Asian stocks rose on Thursday, with energy shares leading the way as crude oil prices bolted higher after U.S. President Donald Trump's decision to pull out of a nucl...Read More

Crude futures are trading higher again this morningDow Jones Industrial Average (DJI) futures are modestly higher this morning, as oil prices continue to rise on lingering geopolitical tensions and news that Israel launched a military strike against Syria overnight. June-dated crude futures up 0.5% at $71.48 per barrel, at last check, to flirt in four-year-high territory. Traders are also digesti...Read More

SHANGHAI, May 10 (SMM) – Nonferrous metals futures inched up for the most part on Thursday May 10. Tin gained nearly 0.5%, while copper, zinc, and lead went up slightly. Aluminium edged down, and nickel fell close to 0.4%.The ferrous complex rose across the board except for iron ore, which lost over 0.4%. Hot-rolled coil gained nearly 1%, while rebar, coking coal, and coke edged up.Copper: T...Read More

LONDON (Reuters) - The oil price rose on Thursday, heading for its largest weekly increase in a month, as the market prepared for potential disruption to crude flows from major exporter Iran in the face of U.S. sanctions.The United States plans to impose new sanctions against Iran, which produces about 4 percent of global oil supplies, after abandoning an agreement reached in late 2015 that curbed...Read More

Iron ore prices at ports in China softened on Thursday May 10 while those for seaborne cargoes picked up some strength.Metal Bulletin 62% Fe Iron Ore Index: $66.83 per tonne cfr Qingdao, up by $0.37 per tonne Metal Bulletin 58% Fe Premium Index: $54.40 per tonne cfr Qingdao, up by $0.11 per tonne Metal Bulletin 65% Fe Iron Ore Index: $85.20 per tonne cfr Qingdao, unchangedMetal Bulletin 62% Fe Chi...Read More

The company agreed to acquire the advanced Brazil project from Vale SA in December for US$8 million.Vale had put Vermelho's resource at more than 1 million tonnes of contained nickel and 43,000t of contained cobalt.Read More

The company also raised its full-year outlookHeadset maker Turtle Beach Corporation (NASDAQ:HEAR) is about to open with a monster 63% gain that would have the stock trading in territory not seen in over two years. The company reported first-quarter results that blew away expectations, with new game releases like Fortnite driving a huge increase in headset sales. In fact, revenue surged 185% compa...Read More

SHANGHAI, May 10 (SMM) – Spot copper was mostly offered at a premium of 10-100 yuan/mt over the SHFE 1805 contract on Thursday May 10 in the Shanghai market. This compared with a premium of 20-100 yuan/mt on the previous day. Transactions of high-quality copper cooled from the previous days, with cargoes mostly offered at a premium of 80 yuan/mt, SMM learned. Trading of standard-quality...Read More

WOODLAND, Calif. (Reuters) - Dan Vincent is in a bind.The president of Pacific Coast Producers (PCP) plans to use around 700 million tin-coated steel cans this year for tomatoes, peaches and pears from 168 growers here in California.His cooperative then sells the canned fruits and vegetables to grocers ranging from Walmart Inc to Kroger Co, as well as food services companies such as Sysco Corp and...Read More

Turkish billet prices have remained stable over the past week with demand for material being very limited, sources said on Thursday May 10.The billet mills in the CIS region tried to increase their offer prices, in line with the uptick in Turkish imported scrap prices. But, due to poor demand for rebar, none of the customers...Read More

Dealers preparing for Las Vegas shows. Polished inventory rising due toslow trading. Prices firm, but buyers pushing for generous credit terms andtaking more goods on memo. Signet Jewelers raises consignment intake +6% to$606M at end of FY2018. Chinese consumer sentiment improving as 1Q gold, silver, jewelry sales +8% to $11.7B.Rough market stable ahead of De Beers and Alrosa sights and AntwerpRou...Read More

Moscow, 10 May 10 2018 ?^' ALROSA Group, the world leader in diamond production, announces diamond sales results for April and four months of 2018.In this April, ALROSA Group sold USD 405.3 million worth of rough and polished diamonds. Rough diamond sales by value amounted to USD 396.2 million, polished diamond sales - USD 9.1 million.ALROSA's total diamond sales in January-April 2018 amounted to...Read More

Randgold Resources' March quarter was marked by lower production at its major operations, which hit cash flow despite cost reductions at some operations.Read More

SHANGHAI, May 10 (SMM) – Sales of new-energy passenger vehicles in China came in at 73,145 units in April, up 150% year on year and up 31.3% month on month, according to data from China Passenger Car Association (CPCA) released on Wednesday May 9.The jump in April suggested a continuous growing demand, Cui Dongshu, secretary general at CPCA, was quoted as saying in local media reports.The A0...Read More

(IDEX Online) - The World Federation of Diamond Bourses (WFDB) and the International Diamond Manufacturers Association (IDMA) have announced that as a result of the weak response to registration for the 38th World Diamond Congress due to be held in Tel Aviv, Israel, from June 19 to 21, they have reached a decision to postpone the Congress.   The Congress, the biennial gathering of the WFDB a...Read More

The following has been adapted from a chapter Towards Mining Vision 2030, by Joel Netshitenzhe, ANC NEC member and executive director of the Mapungubwe Institute for Strategic Reflection (Mistra) in a book on The Political Economy of Mining in South Africa, to be published in 2018 by Mistra.South Africa’s mineral endowments present a unique opportunity for a new industrialisation drive and a...Read More

The company produced a record 68,088 ounces of gold during the three-month period, jumping 357% year-on-year.Read More