Alrosa buys stake in Angola’s largest diamond deposit

MINEX Forum | January 12, 2018
img0 Russian miner Alrosa (MCX:ALRS), the world’s top diamond producer by output, received Friday approval from Angolan President Joao Lourenço to expand its stake in local producer Catoca. The deal, worth $70 million, gives Alrosa a further 8.2% stake in Catoca Mining, providing the diamond giant with access to a production base outside Russia. Deal gives ...

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% ...

MINEX Forum’s Eurasian Mining Information portal becomes media partner of PDAC 2018 Convention

MINEX Forum | December 13, 2017
img0 PDAC 2018 Convention – the must attend mining event of the year. The world’s premier mineral exploration and mining convention is gearing up for a return to downtown Toronto, featuring another outstanding lineup of speakers, short courses, technical sessions, investment opportunities and networking events. The Prospectors & Developers Association of Canada’s (PDAC) International Convention, Trade ...

Copper price plunges

MINEX Forum | December 6, 2017
img0 Copper futures trading in New York cratered on Tuesday on doubts about the strength of Chinese demand for the metal, an improving supply picture and a jump in warehouse stocks of the metal. Copper on the Comex market for delivery in March, the most active contract declined 4.7% from Monday’s settlement price in heavy volume ...

Rio Tinto appoints one of its own as the company’s new chairman

MINEX Forum | December 5, 2017
img0 British-born Simon Thompson, 58, will succeed Jan du Plessis as Rio Tinto’s chairman. (Image: Rio Tinto.) World’s second largest miner Rio Tinto (ASX, LON, NYSE:RIO) ended Monday a nine-month search for a new chairman, announcing industry veteran Simon Thompson as the person who will assume the post in March. The appointment of Thompson (58), one of Rio Tinto’s ...