Supply cuts a ‘step change’ for uranium price

MINEX Forum | December 19, 2017
img0 The announcement made by uranium giant Cameco in November  that it’s suspending operations at its flagship McArthur River mine in northern Saskatchewan and surprisingly deep three-year cuts by Kazakhstan’s state-owned Kazatomprom  provide a “step change” for uranium prices says a new report on the sector from Cantor Fitzgerald equity research. On Monday, the world largest producer ...

2018 global diamond industry primer

MINEX Forum | December 19, 2017
img0 Through mid-December 2017, rough diamond prices are up 2.7%* year-to-date, while polished prices are down 3.5%**. However, despite shrinking manufacturer margins, the midstream segment of the industry still bought $5.3B worth of diamonds from De Beers this year, including $450M at the final sight which was 7% over the comparable sight last year and 81% ...

Gold mining: the world’s cheapest jurisdictions

MINEX Forum | December 19, 2017
img0 Abandoned Russian mining colony in Pyramiden. Creative commons image by Christopher Michel, @ChrisMichel. Story developed using data from Mining Intelligence.  When it comes to the selection of investment targets which factors are uppermost in the minds of potential investors? Naturally, the top consideration is the overall quality of the asset where the right combination of cost-efficient ...

Vast CEO resigns

MINEX Forum | December 18, 2017
img0 Aim-listed miner Vast Resources’ CEO and director Roy Pitchford has resigned from his position, effective December 31. Vast’s Romanian subsidiary president Andrew Prelea will assume the role of Vast CEO. Vast chairperson Brian Moritz noted that Pitchford has had an invaluable contribution to the company. “[He] stewarded Vast from an exploration and development company back in 2014, to a production company with two operating ...

Alrosa recovers huge yellow diamond from Yakutia mine

MINEX Forum | December 18, 2017
img0 98.63 carats diamond. Photo by Alrosa. The world’s largest diamond producer by output, Alrosa (MCX:ALRS), announced today the recovery of a large gem-quality diamond of 98.63 carats from its historic Jubilee (Yubileynaya) pipe, located in the eastern Republic of Yakutia. The octahedron crystal has inclusions of olivine, graphite and sulphide, is transparent yellow-tinted and measures 28.96 х 28.03 х ...

Kazakhstan’s largest iron ore company now has a smart mine

MINEX Forum | December 15, 2017
img0 A major iron ore project in Kazakhstan is getting a high-tech makeover. The Kacharsky mine, operated by Eurasian Resources-owned JSC Sokolov-Sarbai Mining Production Association or SSGPO, is being transformed into a “smart mine.” With an investment of $10 million, a new modular automated system for production processes was integrated with Kacharsky’s existing Geographic Information System ...

ArcelorMittal says Kazakh coal miners end strike

MINEX Forum | December 15, 2017
img0 Coal miners at steelmaker ArcelorMittal’s Kazakh unit have ended their sit-in and emerged from the mines, the company said on Friday, after offers of a pay rise and the threat of legal action. ArcelorMittal Temirtau, the Central Asian nation’s biggest steel mill, said it would continue negotiations with the miners. After hundreds of workers started the sit-in on Monday, the ...