RAPAPORT... Sarine Technologies has entered the running to acquire HRDAntwerp, according to two sources close to the sale process. The Israel-based diamond-technology company has registered its interest in buying the Belgian laboratory, as have two previous heads of HRD, the two anonymous sources told Rapaport News. Peter Meeus, who ran the organization between 1999 and 2005, was one of the f...Read More
RAPAPORT... The Kimberley Process (KP) has relaxed its rules for roughexports from the Central African Republic (CAR), enabling the government to approve multiple shipments each month without needing to wait for external authorization. The decision, which will initially be implemented as aone-year trial, aims to improve the efficiency of CAR's operations and increasethe amount of rough it can...Read More
RAPAPORT... Sarine Technologies recorded its first quarterly profit this year amid solid demand for its Galaxy diamond-mapping equipment. Profit for the three months ending September 30 came to $234,000.While the figure was 13% lower than during the comparable period a year ago, it followed consecutive net losses of $1.4 million in thefirst and second quarters. Revenue for the July-to-Septem...Read More
RAPAPORT PRESS RELEASE, December 3, 2019, Las Vegas ... Sentiment in the diamond industry improved amid rising expectations for the holiday season. A rallying stock market fueled optimism as the Dow average climbed 3% in November, and anticipation of a US-China trade deal helped as well.Polished prices firmed, supported by reduced supply and steady US and Chinese demand for RapSpec A3+ diamonds be...Read More
(IDEX Online) - Thanksgiving weekend spending was up 16 percent over 2018 with 189.6 million U.S. shoppers hitting the stores. This was an increase of 14 percent over last year's 165.8 million, according to the National Retail Federation and Prosper Insights & Analytics.For the first time, Black Friday edged out Cyber Monday as the busiest day for online shopping. Black Friday was also th...Read More
RAPAPORT... Zimbabwe's state-owned diamond miner is planning tendersoutside the country in an effort to attract more buyers, Bloomberg reportedThursday. The Zimbabwe Consolidated Diamond Company (ZCDC) intends tohold 11 international sales in 2020, the news agency cited the miner's actingCEO, Rob De Pretto, as saying. Its tenders are currently in Harare, thecountry's capital, but the location does...Read More
(IDEX Online) - Following the agreement to restructure the Operational Framework System created for the Central African Republic (CAR) at the recent Kimberley Process (KP) Plenary Meeting, the WDC has released updated information about exports from the African country. Under the terms of the revised framework, the CAR government can issue KP certificates to rough diamond shipments for goods s...Read More
(IDEX Online) - The secondhand market, which reached ???EUR? ?26 billion ($28.8 billion) in 2019, is evidence of the evolving mentality of luxury goods buyers. That's just one finding of the latest Bain & Company Luxury Study."We see the secondhand market as a potential avenue for luxury brands to reach a new audience and enlarge their customer base," said Federica Levato, a Bain & Co...Read More
RAPAPORT... Luk Fook's sales fell 20% in the first fiscal half amiduncertainty in the Hong Kong market and the rising price of gold. Total sales dropped to HKD 6.31 billion ($805.5 million) inthe six months ending September 30. Profit for the period slipped 26% to HKD497.3 million ($63.5 million). Same-store sales - at Luk Fook outlets open for more than ayear - in Hong Kong and Macau slid 2...Read More
Turkish deep-sea scrap import prices have increased on a fresh transaction amid tightening supply and good demand, sources told Fastmarkets on Tuesday December 3.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $280 per tonne and 3,000 tonnes of bonus at $290 per tonne cfr. The cargo was scheduled for shipment in January.This compares...Read More
Vale plans to produce 49 million tonnes of iron ore pellet in 2020 by gradually restarting idled capacity throughout next year, the company's ferrous and coal director, Marcelo Spinelli, said this week.During the first half of 2020, the company will focus more on replenishing Chinese stocks of Brazilian Blend Fines (BRBF), which the company regards as the strategic basis for iron ore use in China,...Read More
Seaborne iron ore prices weakened on Tuesday December 3 amid losses in futures and rebar markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.31 per tonne, down $0.14 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.40 per tonne, down $0.14 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.20 per tonne, down $0.12 per tonne.58% Fe fines high-premium, cfr Qingd...Read More
Galena provides a leading lightSPONSOREDgalena miningThe plus-4km-wide and 1.2km deep pit, where a 144Mt pit wall failure cost months of production in 2013, produces about 8% of America's copper.Rio Tinto says it has spent more than $1 billion deepening and pushing back the south wall of the mine, taking Bingham's mine life out to 2027. It now plans to spend $1.5 billion more on the southern pushb...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesThe latest Limon drilling returned 40m at 0.1 grams per tonne gold, 0.12% copper and 19 parts per million molybdenum from 863m downhole.Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials....Read More
Participants in the seaborne coking coal market said they saw little room for prices to move significantly amid stable supply-demand drivers.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.86 per tonne, down $1.09 per tonnePremium hard coking coal, cfr Jingtang: $147.60 per tonne, up $0.97Hard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingtang:&...Read More
Galena provides a leading lightSPONSOREDgalena miningIn September the company began operating one of the largest, most ambitious and important ore conveyor systems in mining which will take material 14km from the bottom of the underground mine to the surface for processing. The system, built by Ingenieria y Construccion Sigdo Koppers (ICSK), will transport 140,000 tonnes per day of ore for the nex...Read More
Cardinal heading down familiar gold roadSPONSOREDcardinal resourcesFor Mather, transitioning from a junior explorer with no mine building experience into a large-scale miner via the financing and development of a multi-billion dollar blockcave mining operation seemsRead More
Vale has cut its iron ore production and sales target to 68-73 million tonnes from 70-75 million tonnes for the March quarter 2020, due to a reduction in operating rates for up to two months at its Brucutu mine.The company is to temporarily suspend tailings disposal at the Laranjeiras dam serving the Brucutu mine to assess the dam's geotechnical characteristics, the Brazilian miner said late...Read More
Galena provides a leading lightSPONSOREDgalena miningThe Marimaca resource now includes a measured and indicated resource of 70.4 million tonnes grading 0.60% copper and an inferred resource of 43Mt grading 0.Read More