* Falling oil prices stock growth worries* Industrial, material shares suffer on China growth worries* U.S. producer prices rise more than expected in October* Tobacco shares fall on e-cigarette restriction worries* Indexes down: Dow 0.77 pct, S&P 500 0.92 pct, Nasdaq 1.65 pct (Updates to close, adds commentary)By Sinéad CarewNEW YORK, Nov 9 (Reuters) - Wall Street's three major stock i...Read More
Nov 12 (Reuters) -For other diaries, please see:Top Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYPolitical and General NewsPOL/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events -----------------------------------------------...Read More
Perhaps even more ironic, much of the BHP train wreck on the line to Port Hedland in Western Australia, including wagons and pieces of the locomotives, could end up in a Chinese scrap-metal yard and become part of a growing scrap problem for iron ore miners. One recent estimate is that 70-80 million tonnes of iron ore could soon be displaced by the rising tide of scrap in China, which is used...Read More
RAPAPORT... Graff Diamonds has showcased the first of more than 60diamonds it plans to polish from the 1,109-carat Lesedi La Rona rough stone itbought last year. Each diamond will have D color and "exceptional" clarity,Graff said Monday. The company's gemologists and craftsmen spent more than ayear analyzing the rough stone, which it bought from Lucara Diamond Corp. for $53million in September 201...Read More
RAPAPORT... Sales at Sarine Technologies rose in the third quarterdespite difficult trading conditions, the equipment maker said. Revenue grew 3.7% year on year to $11.7 million for thethree months ending September 30 as the company sold a larger number of Galaxymapping machines. Net profit jumped to $269,000 versus a loss of $530,000 ayear ago due to improved cost management and lower operating e...Read More
RAPAPORT... Rio Tinto broke records at its 2018 Argyle Pink DiamondsTender as a 2.28-carat stone became the most valuable in the event's 34-yearhistory, the miner said. The fancy-purplish-red Argyle Muse was the top seller at thetender, going to an unnamed buyer for an undisclosed amount, Rio Tinto said lastweek. In addition, the Argyle Alpha, an emerald-cut, 3.14-carat diamond, set arecord a...Read More
RAPAPORT... Alrosa's sales dropped 28% year on year to $242.8 million inOctober amid weaker demand for smaller rough stones and a slowdown in theIndian market. Indian demand fell due to the depreciation of the rupee andtighter bank credit for manufacturers, the miner explained. "A number of minorbankruptcies" in India had a negative impact on the sector, while the period was also seasonally weak d...Read More
The Dubai Diamond Exchange (DDE) and Stargems Group have completed six rough diamond tenders of Anhui-Congo Mining Investment Company goods, with over two-million carats sold.The tenders were held at the Almas Tower with around 200 diamond companies in attendance and were facilitated by the DDE in a secure, transparent and regulated environment.AdvertisementDDE parent company, the Dubai Multi Comm...Read More
(IDEX Online) - Sarine Technologies reported that group revenue rose 4% to US$11.7 million and net profit improved to US$0.3 million in Q3 2018 despite cyclical weakness in the diamond polishing midstream. Highlights in the report include: The Group delivered 13 Galaxy family systems to customers in Q3 2018 and expanded total installed base to 390 as of 30 September 2018 Backed by...Read More
RAPAPORT... The Central African Republic (CAR) is hoping this week's Kimberley Process (KP) meeting will help raise its rough-diamond exports. Mining Minister Leopold Mboli Fatran is appealing to the KP to approve nine additional zones from which the CAR can export production, in addition to the five areas that were approved in 2015. This would enable the country to attract investors to refor...Read More
(IDEX Online) - The World Diamond Council (WDC), an industry group focused on preventing conflict diamonds from entering the legitimate global supply chain and protecting the value of natural diamonds, intends to push for progress on proposed reforms to the Kimberley Process at the KP Plenary meeting starting in Brussels today. The Plenary meeting continues until November 16. Specifically,...Read More
(IDEX Online) - Lucara Diamond Corp. reported quarterly sales revenue of $45.7 million (Q3 2017: $77.9 million) or $450 per carat (Q3 2017: $1,161 per carat) in its results for the third quarter ended September 30. This revenue includes proceeds of $3.9 million received in July related to the company's June tender. Third quarter sales from 2017 included the sale of the Lesedi La Rona f...Read More
LONDON – De Beers made steep cuts in the prices of low-quality stones at its sale this week, according to people familiar with the situation.The world’s biggest producer reduced prices as much as 10% for low-quality stones, said the people, who asked not to be identified because the sales are private. It’s the latest sign that the bottom end of the market is in turmoil.Advertise...Read More
Silver bulls often tussle over whether to buy silver bullion for the long term or to speculate in silver mining stocks for potential silver price outperformance.Here we cover some of the key differences between the two as well close with data comparing silver mining stock performance vs silver bullion since the middle 1980s to today.We will begin this content with a broad generalization.You buy a...Read More
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"VIDEO - Contrarianism is popular among resource investors, but as with all investment strategies it's important to use common sense and not go overboard. https://t.co/mLSxvrHEOu #Investing #Resource #Gold"Read full newsRead More
Entering Q4 of 2018, Globe 24-7's Luis Valente meets with Ivan Bebek - Executive Chairman and Director of Vancouver-based Auryn Resources Inc. (TSX: AUG, NYSE: AUG) - to discuss Mr. Bebek's outlook on the mining marketplace and his vision for Auryn Resources. Mr. Bebek is optimistic and says that $2,500/oz gold could be a reality in the near future.Auryn Resources pursues world-class discoveries;...Read More
With gold and miners selling off Friday on fears of Fed rate hikes and year-end tax loss selling, many investors fear the decline will continue through December.But recent history shows us the gold and miners market is not so simple at the end of the year:The bottom can and has arrived in mid-November or the first of December, as likely as later in December.When it does, the sudden immediate rally...Read More
The Kambalda gold district in the Goldfields region of Western Australia has recently made world headlines with record size gold nuggets.The Pilbara region of Western Australia has had recent conglomerate style gold discoveries that are reminiscent of the famous Witwatersrand gold reef in South Africa.A look at some of the main gold players in these two exciting regions.With trade wars and the pot...Read More