The Federal Government of Australia today launched the Critical Minerals Strategy 2019, aimed at putting emphasis on what politicians call "the industries of the future." In their view, these sectors include agritech, aerospace, defense, renewable energy and telecommunications."We have some of the world's richest stocks of critical minerals and while the market for some of our minerals such as lit...Read More
Canada's Walker River Resources (TSXV: WRR) announced this week that it signed a letter of intent with Smooth Rock Ventures (TSXV: SOCK) to enter into an exploration agreement with option to form a joint venture on the Garfield Flats project, located in Mineral County, Nevada.Smooth Rock can earn an undivided 50% interest in the property by funding $600,000 in exploration expenditures. Walker, o...Read More
Market participants expect alumina prices to plummet upon any future announcement that Hydro's alumina refinery, Alunorte, can return to full capacity, but agree the scheduled court date does not provide any further clarity. Alunorte, the largest alumina refinery in the world, has been running at only 50% of its production capacity since March 2018 because of restrictions imposed by authorities in...Read More
Domestic prices for cold-rolled coil (CRC) in Southern Europe have fallen this week due to limited demand, sources told Fastmarkets on Thursday March 28.Fastmarkets' weekly price assessment for domestic CRC in Southern Europe was ?,?530-560 ($598-630) per tonne ex-works on March 27, down by ?,?30 per tonne compared with ?,?560-590 per tonne ex-works a week earlier.Italian mills were reported to be...Read More
Steel billet import prices fell in Egypt in the week ended Thursday March 28, with demand remaining weak, but the domestic price for rebar held steady, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $460-480 per tonne cfr on Thursday, widening downward from $475-480 per tonne cfr last week.CIS-origin billet was offered to the country at $480-485...Read More
United Arab Emirates-based United Iron & Steel Co (UISC) has started producing its own cold-rolled coil at its plant in Abu Dhabi for processing into hot-dipped galvanized coil.The new 250,000 tonnes-per-year CRC facility consists of an in-line push-pull pickling line, a single-stand cold-rolling mill and a continuous galvanizing line to process both hot- and cold-rolled coil, equipment suppl...Read More
Weaker-than-expected demand from steel mills following the introduction of new rebar standards in China and increased use of ferro-niobium there have hit the ferro-vanadium market with prices in Europe now trading at levels last seen in December 2017. So far this month, the European ferro-vanadium price has fallen by more than 25%. Fastmarkets assessed the price for ferro-vanadium, 78% min, free d...Read More
China's domestic hot-rolled coil prices were flat on Thursday March 28, with market participants taking a wait-and-see approach.DomesticEastern China (Shanghai): 3,850-3,860 yuan ($573-574) per tonne, unchangedNorthern China (Tianjin): 3,790-3,800 yuan per tonne, unchangedA few buyers raised their procurement rates amid gains in the futures market in the earlier part of the day, sources said.But o...Read More
Vancouver-based NexGen Energy has been busy with feasibility stage drilling at its 100% owned Rook I property in the Athabasca Basin.In the A2 sub-zone, the emphasis is on converting indicated to measured resources. Nineteen closely spaced drill holes (9.0 to 16.7 metres) successfully intersected the sub-zone. In the shear only, composite and off-scale radioactivity results were routinely measured...Read More
Drilling at the Rook I uranium project in the Athabasca Basin. (Image: NexGen Energy)SASKATCHEWAN - Vancouver-based NexGen Energy has been busy with feasibility stage drilling at its 100% owned Rook I property in the Athabasca Basin.In the A2 sub-zone, the emphasis is on converting indicated to measured resources. Nineteen closely spaced drill holes (9.0 to 16.7 metres) successfully intersected th...Read More
Brazilian miner Vale expects iron ore sales volumes in 2019 to be cut by 50-75 million tonnes, from a previous internal, undisclosed target of 382 million tonnes of sales during the year, chief financial officer Luciano Siani said on Thursday March 28 in a conference call with analysts.The reduction will be caused by the mine closures that ensued after an accident at the C??rrego do Feij??o unit,...Read More
RAPAPORT... Eurostar Diamond Traders, one of the biggest names in theAntwerp industry, has entered bankruptcy following a legal battle with itsbanks. The Antwerp Corporate Court ruled Thursday in favor of thatoutcome. Eurostar plans to appeal the decision, according to the company'schairman and founder, Kaushik Mehta. "For Kaushik Mehta and Eurostar, this is a verydisappointing day, which he...Read More
RAPAPORT... The Gemological Institute of America (GIA) is rolling out a new grading report that will highlight the country from which a diamond was recovered. The company will issue the Diamond Origin Report for stones that were submitted to the lab for analysis in rough form and again as a polished stone, so that it can match the two and confirm the country of origin. "In recent years, there has...Read More
Stornoway Diamond (TSE: SWY) finished the 2018 calendar year with less production and revenue and more losses. Total net loss for the year was $329.4 million or $0.39 per share, compared to a net loss in 2017 of $114.2 million or $0.14 per share.The company pointed out that those numbers include a non-cash impairment of $83.2 million, a deferred income tax expense of $77.4 million, and $227.1 mill...Read More
Turkish steel mills made no new bookings in the deep-sea scrap market on Thursday March 28, but more transactions made last week were revealed, sources said on Thursday March 28.News of three deep-sea cargoes from last week came to light on Thursday.A steel producer in the Iskenderun region booked a US cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $320 per tonne, 5,000 tonnes of shredded a...Read More
Sentiment weakens after soft first quarter. Dealers avoiding large inventorypurchases, and manufacturers reducing supply. Miners bracing for tough year as first-quartersales decline an estimated 30%. Rough market under pressure, with some analystsoptimistically predicting flat rough prices in 2019. Sightholders hoping profitmargins will improve after next week's sight. Baselworld announces price c...Read More
Domestic market slow, with fewer overseas dealers inMumbai. Buyers pushing for deeper discounts on diamonds below 0.50 ct. andabove 3 ct. Good US and Chinese demand for nice SIs. Liquidity tight as dealerssettle accounts ahead of March 31 financial year-end. Manufacturers maintaininglow polished production, after reduced first-quarter rough purchases. RoundRead More
South African mining companies are challenging parts of a government charter aimed at redistributing the country's mineral wealth, saying it will deter new investment in the industry.The charter is in breach of a court order issued last April, which ruled that previous versions of the regulations didn't require miners to top up black-shareholding levels if they previously met a minimum 26 percent...Read More
Vale achieved a price of $68.40 per wet metric tonne for its iron ore fines in the fourth quarter of 2018, the company said in an earnings report on Wednesday March 27. In the fourth quarter of 2017, Vale's realized price for the material was $63.10 per wmt.According to the miner, the premium received for higher-quality iron ore fines stood at $8.10 per tonne in the fourth quarter o...Read More
Africa-focused Firestone Diamonds (LON:FDI) has put plans to extend the life of its 75%-owned Liqhobong mine in Lesotho on the back burner, saying that current market conditions don't support the project.The company, which reported 2019 interim results on Thursday, managed to limit its losses in the six months to December 31, 2018, despite a global price slump for smaller, lower-value diamonds.Fi...Read More