Iron ore exports from Port Hedland in Western Australia dipped to their lowest level in seven months in February 2018, despite showing a year-on-year increase.The port shipped 38.50 million tonnes of the steelmaking raw material last month, up 7.9% from a 13-month low of 35.67 million tonnes in February 2017.But this was down 6.2% from January's 41.06 million tonnes, and the lowest level...Read More

RAPAPORT...The $2 billion fraud allegations against Indian jewelrytycoon Nirav Modi and Gitanjali Gems chief Mehul Choksi have shocked theindustry, as well as raising questions about the wider impact on the trade.One of the first casualties of the fallout was US jewelerFirestar Diamond, which, by virtue of being part of Modi's business empire,found itself thrust into a crisis. Firestar and two of...Read More

Japan's Kobe Steel has rolled out a series of measures to prevent incidents such as its recent data-falsification scandal from recurring again.This includes replacing some of its executives and restructuring its management and reporting systems, the steelmaker said on Tuesday March 6.An external director will serve as...Read More

(IDEX Online) - ALROSA sold $1.032 billion of rough diamonds in the first two months of this year, with sales of almost $533 million in February.   "In February, the core diamond markets were quite strong," said ALROSA Deputy CEO Yury Okoemov. "The diamond cutting sector continues replenishing stocks. Demand for diamond products was also backed up by good jewelry sales in China on the eve of...Read More

CAPE TOWN – South Africa's future is looking "a lot more positive" since President Cyril Ramaphosa succeeded scandal-plagued Jacob Zuma last month, Anglo American's Chief Executive Mark Cutifani said on Wednesday.Mining companies and South Africa's government have been at loggerheads for years over legislation that the industry warns could deter investment by changing t...Read More

RAPAPORT... BSG Resources, diamond tycoon Beny Steinmetz's mining company, has entered administration, meaningcontrol of the group has been given to practitioners responsible for tryingto rescue the business. Malcolm Cohen and William Callewaert of BDO arethe court-appointed joint administrators, the advisory firm said Tuesday. They aretasked with operating in the creditors' best interests, with a...Read More

Coal shipments from Australia's metallurgical coal hub of Queensland fell 4.4% on the year in February. Ports in the Australian state shipped 15.98 million tonnes of coal - including some thermal coal - last month, compared with 16.71 million tonnes a year earlier, according to the latest data...Read More

(IDEX Online) - BSG Resources Ltd, a Guernsey-based holding company of Israeli diamond and mining tycoon Beny Steinmetz's international mining business, has been placed in administration.   Being placed in administration means being taken under the management of a court appointed administrator whose main aim is to leverage the company's assets and business to repay creditors as quickly a...Read More

RAPAPORT... Alrosa's sales soared 35% to $541.9 million in February,strengthened by significant demand ahead of the Chinese holiday season. "In February, the core diamond markets were quite strong," Yury Okoemov, deputy CEO, said Wednesday. "The diamond-cutting sector continues [to replenish] its stock. Demand for diamond products was also backed up bygood jewelry sales in China on the eve of the...Read More

JOHANNESBURG (miningweekly.com) – Russian diamond major Alrosa on Wednesday announced its latest diamond sales results and also reported on geological prospecting developments, including the reorganisation of its exploration unit.The company, which produces the world’s most diamonds in terms of volume, said that it had sold $541.9-million worth of rough and polished diamonds in Februar...Read More

Domestic prices for cold-rolled coil (CRC) in the EU have been largely unchanged over the past week because market activity has been slow, sources told Metal Bulletin on Wednesday March 7."The majority of buyers have booked the volumes they needed and now prefer to wait and see where the market will move," a German trader said.Northern EuropeMetal Bulletin's weekly price assessment...Read More

(IDEX Online) - Gem Diamonds Limited has recovered a 152-carat, top white color Type IIa diamond from the Let??eng mine in Lesotho, the highest dollar per carat kimberlite diamond mine in the world.   The latest find (pictured above) is the sixth diamond of over 100 carats recovered at the mine so far this year, the company said. Read More

RAPAPORT PRESS RELEASE, March 7, 2018, LasVegas... The Rapaport Group has released a Chinese version of Rapaport Academy'spopular online course - Fundamentals of Diamond Trading. In response to increasing demand fromChinese diamond trading professionals looking to increase their skills andbetter understand the global industry, the course was released in SimplifiedChinese at the Hong Kong March Sho...Read More

JOHANNESBURG (miningweekly.com) – Junior miner Frontier Diamonds, which started trading on the ASX in January, has recovered the first diamonds from its Bellsbank kimberlite pipe exploration project, near its Sedibeng diamond mine in South Africa’s Northern Cape province.The diamonds were recovered from a sample that was treated as part of the hot commissioning of a tailings treatment...Read More

Prices for domestic mesh-quality wire rod produced and delivered in Europe remained flat this week, with the market being underpinned by healthy lead times, sources said."Stocks are low, there is not much material around and the 'good' season is coming," one Southern European mill source said on Wednesday March 7.A Northern European producer source agreed, adding that his mill was...Read More

RAPAPORT... Sales of jewelry, watches and other luxury items in HongKong rose in January, despite the Chinese New Year falling out a month laterthan last year, according to the municipality's data authority. January retail sales for the category increased 10% year onyear to $1.03 billion (HKD 8.07 billion), Hong Kong's Census and StatisticsDepartment reported last week. Total retail sales for all...Read More

RAPAPORT PRESS RELEASE, March 7, 2018, New York... Diamond market sentiment was positive in February, with steady dealer trading, though allegations of a major bank fraud involving two Indian jewelry companies dampened the mood. Polished prices firmed, following a better-than-expected US holiday season and renewed optimism in China. Traders focused on the Hong Kong International Diamond, Gem &...Read More

JOHANNESBURG (miningweekly.com) – Global diamond producer Gem Diamonds has recovered a 152 ct, top white colour Type IIa diamond from its 70%-owned Letšeng mine, in Lesotho.This is the sixth diamond larger than 100 ct recovered at the mine this year.AdvertisementThe Letšeng mine is famous for the production of large, top colour, exceptional white diamonds, having produced more...Read More

Domestic prices for hot-rolled coil (HRC) in the EU have been largely stable over the past week, with buyers remaining in "wait-and-see" mode, sources have told Metal Bulletin.European mills have been offering June-production HRC but buyers have held back from booking significant volumes until the market trend becomes clear for the third quarter of the year.In addition, end-users have not fully tr...Read More

Base metals traded on the London Metal Exchange are down across the board by an average of 0.3% this morning, Wednesday March 7. Nickel leads the decline with a 0.9% drop to $13,520 per tonne, while the rest are off between less than 0.1% and 0.3%, with three-month copper prices at $6,977 per tonne.Volume has been average with 6,272 lots traded as of 06.48am London time. Precious metals prices are...Read More