Uzbekistan plans to break into world’s leaders list in coal mining

MINEX Forum | January 8, 2018
img0 Uzbekistan Railways JSC (Uzbekistan Temir Yollari) published a plan for financial recovery of coal industry enterprises and their transformation into the world leaders. Uzbekugol and Shargunkumir companies were transferred to the balance of Uzbekistan Railways in November last year by presidential decree. The purpose of this transfer was bringing the coal industry to a new ...

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% ...

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 ...