News

9th August 2019

Lucapa Diamond Company and its partners have generated A$8.8 million in the latest round of diamond sales from the Lulo alluvial operation in Angola and the Mothae kimberlite mine in Lesotho, taking total sales for the year to date just above $50 million (reports MiningNews) Lulo sales totalled $6.3 million from a run of mine parcel of 3558 carats for an average of $1768/ct. Total Lulo sales of 9582ct generated $37.4 million at an average price of $3899/ct in 2019. Lucapa is 40% owner and operator of the mine.

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Rare earths and potash returned to the winner’s circle this week as the first whiff of a correction wafted across the gold and iron ore sectors

Rare earths and potash returned to the winner’s circle this week as the first whiff of a correction wafted across the gold and iron ore sectors, while two industry leaders, BHP and Rio Tinto, paid a heavy price for annoying their supporters. On a “follow-the-money” basis, it was hard to overlook the flow of funds into two emerging rare earth companies, Arafura and Northern Minerals, which attracted $30 million and $23.2 million respectively to advance their projects.

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Centaurus Metals isn’t the only company dusting off an old iron ore project in light of the surging price for the steel-making commodity (reports The West Australian). But it probably has a better chance than most, in bringing its Jambreiro project in south-eastern Brazil into production.

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High purity alumina (HPA) supply will not meet estimated demand over the next decade — even if every project in the pipeline goes into production (reports Stockhead). Last year, HPA was a niche industry building some momentum as analysts predicted a lithium-ion battery charged shortfall. That’s because one of HPA’s fastest growing uses is coating the separators that keep apart the cathode and anode electrodes in lithium-ion batteries: Last week, a report by CRU acknowledged that previous demand predictions were too conservative.

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Iron ore and gold marched higher this week for different reasons

Iron ore and gold marched higher this week for different reasons and while a continuation of gold’s upward move seems assured, the first sign of an end to the iron ore boom came in the form of a forecast from a big bank that the commodities super-cycle has returned. Westpac, Australia’s oldest bank, said growth in the domestic Chinese economy coupled with the rise of India and Indonesia seemed poised to launch the next phase of the super cycle.

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Strategic metals company TNG Limited has signed a binding heads of agreement with the operator of the Darwin to Tarcoola rail line, Genesee & Wyoming Australia, to haul material from the Central Australian Mount Peake mine more than 1100km to a processing facility in Darwin (reports The Sydney  Daily Telegraph).

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Plus, soaring gold price triggers big bounce in Millennium shares

There were many factors behind the 2017 Pilbara conglomerate gold bubble. But what really pumped up things was one of the great mining promotional events of our time. The September 2017 event was orchestrated by the lead company in the bubble, Canada’s Novo Resources Corp (TSX-V:NVO). Novo organised what’s known in the TV game as a live cross from the Denver Gold Forum to its Purdy’s Reward conglomerate project near Karratha in the Pilbara, a 50:50 joint venture with the ASX-listed Artemis (ARV).

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Load up with gold and head for the hills or rush into industrial metals and oil

Load up with gold and head for the hills or rush into industrial metals and oil. That seems to be your choice from Monday, when a new financial year kicks off and we’ll know whether Trump and Xi shook hands and smiled – or not! The handshake the world wants to see could occur today or tomorrow when Chinese President Xi Jinping is expected to have a face-to-face meeting with US President, Donald Trump at the G20 summit in the Japanese city of Osaka.

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