Anglo American's De Beers said Thursday it had successfully tracked its first diamonds all the way from its mines to jewellery retailers using blockchain technology, in an effort to clear up the supply chain form synthetics and conflict stones.The world's largest rough diamond producer by value, which began developing the tracking platform last year, said it was able to follow 100 high-value stone...Read More
The price of imported steel billet and local rebar prices have been mostly unchanged in Egypt this week, sources told Metal Bulletin on Thursday May 10.The country's rebar biggest producer, Ezz Steel, is still offering material at E ?12,528 ($705) per tonne ex-works, including 14% VAT, while Beshay Steel, also a major domestic producer, is offering rebar at E ?12,525 per tonne ex-works including 1...Read More
(Reuters) - Wall Street was set to open higher on Thursday after a weaker-than-expected rise in U.S. consumer prices in April cooled fears of rising inflation.A Labor Department report showed its consumer price index rose 0.2 percent, below the economists’ expectation of 0.3 percent as rising costs for gasoline and rental accommodation were tempered by a moderation in healthcare prices.Exclu...Read More
(IDEX Online) - De Beers said that it has successfully tracked 100 high-value diamonds along the value chain during the pilot of its industry blockchain platform, marking the first time a diamond's journey has been digitally tracked from mine to retail. An immutable and secure digital trail was created for a selection of rough diamonds mined by De Beers as they moved from the mine to cutter...Read More
JOHANNESBURG (miningweekly.com) – Diamond conglomerate De Beers Group has successfully tracked 100 high-value diamonds along the value chain during the pilot phase of its new industry blockchain platform.A selection of rough diamonds, mined by De Beers, were tracked through an immutable and secure digital trail that was created by the platform called Tracr as they moved from the mine to cutt...Read More
A proposed mining code review in Ghana and Mauritania's rejection of a key permit to expand a project dealt it a double blow, Bloomberg reported.Kinross had also flagged that Mauritania's government wanted to "enter into mutually beneficial discussions respecting all of Kinross' activities in Mauritania" in its quarterly results this week. On a positive note, shares in junior Midas Gold (TSX:...Read More
China's domestic rebar prices continued to trend downward on Thursday May 10 amid persistently weak demand. Domestic Eastern China (Shanghai): 3,890-3,940 yuan ($611-619) per tonne, down 60 yuan per tonneNorthern China (Beijing): 3,870-3,920 yuan per tonne, down 10 yuan per tonne Rebar futures were trading below Wednesday's settlement price of 3,596 yuan per tonne for most of the day before c...Read More
(IDEX Online) - CIBJO, the World Jewellery Confederation, will hold its 2018 annual congress in Bogot??, Colombia, from October 15-17, with pre-congress meetings beginning on October 13. The congress will be hosted by Fedesmeraldas, the National Federation of Emeralds of Colombia, which this year will be a celebrating the 20th anniversary of its founding. Immediately prior to the event, fro...Read More
LONDON (Reuters) - Bank of England Governor Mark Carney said on Thursday the economic outlook for Britain remained obscured by uncertainty about the terms of its departure from the European Union.“While the storms of February and March have given way to sunnier skies, the economic outlook for the UK remains clouded by Brexit uncertainties,” Carney said in a speech after the BoE left in...Read More
SHANGHAI, May 10 (SMM) –Copper: LME copper rebounded to a high of $6,810/mt from a low of $6,766/mt during the European trading session overnight. The SHFE 1807 contract traded rangebound overnight. Its trading level nudged up and hit the five-day moving average. We expect LME copper to trade at $6,800-6,850/mt today with SHFE 1807 contract at 50,900-51,300 yuan/mt. Spot premiums are seen to...Read More
JOHANNESBURG (miningweekly.com) – Lower revenues, higher depletion and amortisation costs and higher administrative and other expenses contributed to a widening in Lucara Diamonds’ net loss to $7-million for the quarter ended March 31, compared with a loss of $1.5-million in the first quarter of 2017.The Vancouver-based miner, which operates the Karowe mine, in Botswana, achieved earni...Read More
It said an "immutable and secure digital trail" had been created using the developed Tracr platform for a selection of rough diamonds moving from a De Beers mine to a cutter and polisher to a jeweller.The platform should be launched later this year for all in the industry to use with the aim of improving visibility and trust within the industry, enhancing efficiencies across the value chain and en...Read More
RAPAPORT... De Beers has successfully traced the progress of 100 high-valuediamonds from mine to retail using its new blockchain platform. "Tracr" provides diamonds with a unique "Global Diamond ID" thatcontains information such as carat weight, color and clarity, as well asimages and provenance information, De Beers said Thursday. The system uploads further data at each stepthroughout the proces...Read More
Chinese ferrous futures remained subdued during morning trading on Thursday May 10, ending the session little changed from their opening prices after the physical steel and iron ore markets weakened a day earlier.Futures closing prices - morning session Shanghai Futures Exchange October rebar: 3,587 yuan ($564) per tonne, unchanged October hot-rolled coil: 3,682 yuan per tonne, down 5 yuan per ton...Read More
Whether you're an established or junior miner interested in expanding your mining portfolio, GoIndustry DoveBid S.A proudly presents the disposal of Lerala Diamond Mine. This mine is in liquidation and is being taken to public auction via GoIndustry's trusted online auction platform. Bidding opens on Thursday, 24 May 2018 and closes for final bids on Wednesday, 30 May 2018. The mine is situated i...Read More
(IDEX Online) - IDEX is publishing the 2017 Diamond Pipeline in the May edition of IDEX Magazine. Produced by Pranay Narvekar and Chaim Even-Zohar, the authoritative annual analysis looks at the latest developments in the diamond world, and provides insights about future directions. "In 2017, the diamond industry witnessed a period of relative calm and a semblance of balance," the re...Read More
A solid upside spike characterizes pricing in the precious metals complex as a whole today. Gold futures gained $8.50 (+0.65%) and as of 3:45 PM Eastern standard time is fixed at $1,321.50.The majority of today’s gains are directly attributable to a weakening U.S. dollar. The dollar index is currently down 38 points and fixed at 92.50. As dollar weakness relates to gold pricing, it accounts...Read More
Base metals prices on the London Metal Exchange were more negative than positive on the morning of Thursday May 10, with all of the metals, except for tin (+0.2%) and lead (0.0%), down by an average 0.6%. Aluminium prices led the decline with a 1.1% drop to $2,330 per tonne, while copper prices were down by 0.1% at $6,811 per tonne. Volume on the LME has been below average, with 4,769 lots traded...Read More
RAPAPORT... Dominion Diamond Mines has delayed a key extension to itsEkati mine for a second time as it assesses the project's profitability, according to reports. The miner originally postponed the Jay expansion in June2016 because it determined that the main Ekati deposit could yield more orethan it had expected. Following that decision, Dominion said it would beginwork on Jay in 2018, rath...Read More