China’s weak demand for diamonds drags sector into slump
Prices for the precious rocks have fallen almost 12% in the past year, amid weakening diamond jewellery demand from China, the second largest consumer after the U.S.
Canadian miner Selwyn Resources (CVE:SWN) stocks were falling almost 17% this morning as the company said it was evaluating a smaller tonnage mine plan for its flagship zinc and lead project in Yukon, northern Canada.
The U.S. Environmental Protection Agency (EPA) held 12 hours of stacked hearings in Chicago on Thursday, allowing the public to express their opinions (mostly adulation according to The Huffington Post) about the proposed carbon pollution standards for new power plants.
A second major physical iron ore trading platform, supported by major mining companies and Chinese steelmakers will launch this Wednesday, competing directly with China's new own platform in a race to create an industry price benchmark.
Australia’s decision to grant first ever right to hire foreign workers at the Roy Hill project in the Pilbara on Friday has sparked heated critics by local unions and the mining community.
The prospectus giving details of the creation of a $90 billion mining and commodities trading behemoth will find its way to the inboxes of shareholders this week.
If there is one mining project anywhere in the world that could warrant the old Hollywood blockbuster title of Back to the Future it must be EMED Mining’s Rio Tinto copper venture in Andalucía, Spain.
Gold faces a crucial test in the coming holiday-shortened week with crucial US jobs numbers out on Friday and the ongoing Eurozone crisis making or breaking the yellow metal's assault on $1,600 and higher.
It has been a slow start for China’s first physical iron ore trading platform which was launched with the idea that it would give China greater influence on the price of the commodity.