North and South Korea are in talks to announce an official end to the military conflict which has been technically ongoing since the 1950s.Continue...Read More
SHANGHAI, Apr 17 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.Last nightAs US treasury yield rates declined, the US dollar index fell 0.41% overnight and hovered around 89.4. Base metals rose across the board, with LME metals driving their SHFE counterparts. LME aluminium rose close to 5% and hit a new high since September 2011 at one...Read More
The Mint Corporation's (TSXV:MIT) subsidiary signs and exclusive licensing agreements with Interac Corp. for the United Arab Emirates (UAE)SmallCapPower | April 17, 2018: The Mint Corporation's (TSXV:MIT) latest announcement is set to change the way purchases are made in one part of the Middle East. Effective April 15, 2018, Mint's majority-owned subsidiary, Mint Middle East LLC (MME), has signed...Read More
Fears that a global trade war would swiftly follow the imposition of Section 232 tariffs by the United States have been overplayed, World Steel Association (Worldsteel) director-general Edwin Basson has said, launching its latest short-range forecast.The tariff debate is moving further and further away from steel, according to Basson, who said that initial fears of a significant effect on steel pr...Read More
Wayne, Pennsylvania-based Genlith has teamed up with Chile's former mining undersecretary Ignacio Moreno to create the Chilean Cobalt Corp, a private concern which has signed an option agreement for a former producing region in northern Chile's Atacama Region.Read More
European flat steel product distributors reported a slight increase in shipments in February.The European federation for steel, tube and metals distribution and trade, Eurometal, said on Tuesday April 17, there had been a 0.6% year-on-year increase in shipments in February despite significant rise in prices. Metal Bulletin's price assessment for domestic hot-rolled coil (HRC) in Northern Europe...Read More
The Alpala deposit already has a mineral resource of 1.08 billion tonnes at a copper-equivalent grade of 0.68%, and has recently earned the backing of BlackRock, which took a 5% stake in SolGold this month.Read More
Turkish steel mills have continued their bookings for May deliveries of material as expected, while prices went up slightly on Tuesday April 17.A steel producer in the Iskenderun region booked a Baltic Sea cargo, comprising 13,000-17,000 tonnes of HMS 1&2 (80:20) at $356 per tonne and 7,000-8,000 tonnes of shredded at $361 per tonne cfr late on April 16.The cargo was scheduled to...Read More
RAPAPORT... Louis Vuitton has appointed Francesca Amfitheatrof artisticdirector of watches and jewelry, the luxury retailer said Monday. Amfitheatrof (pictured) will be in charge of creating jewelry and high-jewelrycollections, as well as overseeing all Louis Vuitton watch designs. "It is with great excitement that I join Louis Vuitton, ahouse I feel deeply connected to thro...Read More
SHANGHAI, Apr 17 (SMM) – Nonferrous metals received a boost on Tuesday April 17 as China's gross domestic product (GDP) for the first quarter came in along expectations. SHFE aluminium surged 2.4% and tin and lead rose over 1%. Copper and zinc gained close to 1%, and nickel edged up.Most ferrous metals came off from highs and closed with mixed results. Coke rose over 1% and coking coal a...Read More
(IDEX Online) - Leo Schachter said that Rosy Blue has become a minority investor in its business. The transaction is expected to close soon, and will mark a culmination of over 30 years of a trading relationship built between the two groups, the Leo Schachter firm said in a statement. "Leo Schachter will continue to operate independently under the Schachter family's majority ownersh...Read More
JOHANNESBURG (miningweekly.com) – Diamond miner De Beers’ global sightholder and auction sales earned the company $520-million in the third sales cycle of this year.This is lower than the $563-million earned in the second sales cycle of this year, as well as the $586-million earned in the third sales cycle of 2017.AdvertisementDe Beers CEO Bruce Cleaver said that while the second quart...Read More
The stoppage of Anglo American's Minas-Rio iron ore operation in Brazil will have an effect, albeit a small one, on worldwide supplies and prices of high-grade materials.The miner first halted iron ore output at its venture on Monday March 12, after a rupture of the slurry pipeline designed to transport material from the mining site in Minas Gerais state to the port terminal in Rio de Janeiro stat...Read More
RAPAPORT... The Diamond Producers Association (DPA) has appointed GrantMobley to manage relationships with the US jewelry industry. As head of US trade, a newly created position, Mobley (pictured) will oversee the DPA's marketing program "Real is Rare. Real is a Diamond". He will interact with retailers and others in the industry, updating them about the campaign and hearing their...Read More
(IDEX Online) - De Beers sold rough diamonds with a provisional value of $520 million, following confirmed sales of $564 million in the second sales cycle (Global Sightholder Sales and Auction Sales) of 2018. Bruce Cleaver, CEO, De Beers Group, said: "While the second quarter of the year is traditionally a seasonally slower period, we continued to see good rough diamond demand in the third...Read More
Total gold output for the quarter from all operations rose 13% year-on-year to 506,500 ounces, mined from 8.8 million tonnes of ore, up 2% on the year and in line with the mining plan. The miner is carrying out a pit cutback at Blagodatnoye.Read More
SHANGHAI, Apr 17 (SMM) – China’s investment in fixed assets, excluding rural households, stood at 10.08 trillion yuan in the first quarter of this year, up 7.5% year on year, according to latest data from the National Bureau of Statistics on Tuesday April 17. The growth was 0.4 percentage point slower than in the first two months of this year.Of the total, private investment in fixed a...Read More
VANCOUVER (miningweekly.com) – The TSX-quoted equity of project developer Star Diamond (formerly Shore Gold) closed in the black on Monday after a preliminary economic assessment (PEA) on its fully-owned Star-Orion South kimberlite projects reported strong metrics.The PEA reported an after-tax net present value on a conceptual 66-million-carat mine plan, at a 7% discount rate, of C$2-billion...Read More
Seaborne iron ore prices outperformed portside values on Tuesday April 17.Metal Bulletin 62% Fe Iron Ore Index: $64.51 per tonne cfr Qingdao, up by $0.58 per tonneMetal Bulletin 58% Fe Premium Index: $52.22 per tonne cfr Qingdao, up by $0.13 per tonneMetal Bulletin 65% Fe Iron Ore Index: $82 per tonne cfr Qingdao, up by $1 per tonneMetal Bulletin 62% Fe China Port Price Index: 458 yuan per wet ton...Read More
RAPAPORT... Polished manufacturer Rosy Blue has agreed to acquire aminority share in Leo Schachter, as the diamond suppliers seek to make theiroperations more efficient. The deal will enable the firms to use each other'sinfrastructure around the world, providing better value for their clients, LeoSchachter said in a statement Monday. Leo Schachter will still operateindependently under the Schachte...Read More