Lockdowns and low prices generate nickel supply shock

Johannesburg based engineer and project delivery company DRA Global has commented that it is pleased and proud that its innovative process plant designs have assisted in the recovery of very large diamonds at the Karowe mine of Boteti Mining (Pty) Ltd, a 100% owned subsidiary of Lucara Diamond Corporation.

The job cuts, part of a major overhaul, are far greater than the 53,000 positions the miner said it would cut in July.

The country's largest mining union said it had received notice from South32 about the planned cuts and wants the government to intervene.

The company will start cutting nearly 80% of its workforce at its Collinsville coal mine in March next year, as it dials back mining at the site.

One of the miner’s worst kept secret may be revealed as soon as Tuesday.

It hit $39.40 a tonne, the lowest price ever recorded by price assessor The Steel Index (TSI), which began compiling data in 2008.

That is more than double the profits reaped in 2014.

Following a heavy selloff in November, iron ore is down another 7% just this week with no support in sight.

The 187.7-carat Diavik Foxfire diamond will be showcased in London before returning to Antwerp for detailed assessment.