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Metals and Mining

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  • *Japan Q3 aluminum premiums fall to 6- year low. LONDON, July 3- Copper was slightly lower on Friday as worries about demand from top consumer China resurfaced, but losses are likely to be capped by a weaker dollar and expectations that further price falls could lead to production cuts. "Copper's downward slide has clearly been arrested in the last couple of weeks.

  • *Japan Q3 aluminium premiums fall to 6- year low. LONDON, July 3- Copper held firm on Friday, helped by a lower dollar and expectations that further price falls could cause production cuts, but a seasonal demand lull is likely to check gains. "Copper's downward slide has clearly been arrested in the last couple of weeks.

  • *Flooding stalled mining in Chile. MELBOURNE/ TOKYO, July 3- Supply of high quality copper concentrate shrank more than expected in the first half of this year due to output delays in top miner Chile, squeezing the pipeline for metal producers and likely supporting prices later in 2015, traders said. Production from two of four mines in Chile that churn out clean,...

  • FRANKFURT, July 3- Canada's Potash Corp of Saskatchewan said it was confident of addressing concerns raised by K+ S over its 7.9 billion euro takeover proposal for the German potash miner, giving K+ S's stock a boost. Potash Corp on Friday said its 41 euros- per-share proposal balanced the interests of investors and other stakeholders, including employees.

  • China uses more than a billion tonnes of iron ore a year to make steel- 14 times the consumption of the United States- but Beijing's efforts to shift the economy to consumer-led growth means steel consumption is peaking faster than expected. "It's clear China can no longer consume all the iron ore that's out there, so something's got to give," said James Wilson, a...

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. The court has approved the $22 million financing only on an interim basis, and has scheduled a final hearing on the debtor-in-possession financing for July 20, 2015, Molycorp said on Thursday.

  • July 2- Rare earths miner Molycorp Inc said it received U.S. bankruptcy court approval for interim financing of $22 million to support its operations. On June 25, the only U.S. supplier of rare earths filed for Chapter 11 bankruptcy protection along with its subsidiaries in North America, to restructure $1.7 billion of debt in its U.S. and Canadian operations.

  • FRANKFURT, July 2- German potash miner K+ S rejected Potash Corp of Saskatchewan's 7.9 billion euro takeover bid on Thursday, saying it was too low and that the Canadian suitor could be planning to dismantle the company, putting jobs at risk. K+ S, which is the world's largest salt supplier but derives most of its earnings from potash fertilisers, also said it was not...

  • LONDON, July 2- The head of global mining firm Rio Tinto urged governments not to be tempted by protectionism as they try to preserve revenues at a time of weakening commodity prices. Along with rival BHP Billiton, Rio has come under pressure in Australia, home to most of its large mines, over taxes and for flooding the market with new supplies of iron ore which have...

  • Resolution Copper Mining says the mine will usher in a new era of prosperity for Arizona, bringing in the equivalent of roughly a $1 billion worth of revenue annually for about 60 years in a state still trying to emerge from the housing bust. And it will claim nearly 5- square miles on the edge of nearby Superior to store mining waste that can be toxic.

  • METALS-London copper inches up after strong U.S. data Wednesday, 1 Jul 2015 | 11:13 PM ET

    *Copper premiums depressed worldwide on oversupply- Triland. MELBOURNE, July 2- London copper rose on Thursday as strong U.S. data eclipsed worries about factory growth in Asia, with a jobs report later in the session expected to support the view that the world's biggest economy is gaining steam. Expansion at U.S. factories was set to buttress copper demand while...

  • MELBOURNE, July 2- London copper held its ground on Thursday after strong U.S. data eclipsed worries about factory growth in Asia, with a jobs report later in the session expected to support the view that the world's biggest economy is gaining steam. *A defiant Prime Minister Alexis Tsipras urged Greeks on Wednesday to reject an international bailout deal,...

  • LONDON, July 1- Global mining firm Glencore said on Wednesday it would go ahead with a plan to close some operations at its Optimum Coal subsidiary in South Africa due to weak coal prices, a move which will result in the loss of 600 to 700 jobs. South Africa's National Union of Mineworkers had bitterly criticized the company's plan to shut down these assets, accusing...

  • LONDON, July 1- Mongolia's prime minister sees signs of progress in developing the country's biggest coal mine and a gold project, hoping to win back much needed foreign investment after resolving a dispute with miner Rio Tinto. Mongolia gets almost 90 percent of its revenue from the mining sector and was hit by a fall in commodity prices last year.

  • LONDON, July 1- Global mining and trading company Glencore said on Wednesday it would go ahead with its plan to close some operations at its Optimum coal assets in South Africa, which will result in the loss of 600-700 jobs.

  • JOHANNESBURG/ LONDON, July 1- South Africa's platinum sector is at a crucial juncture as the metal's price, near six-year lows, maintains a steady decline, with analysts now contemplating a move below $1,000 an ounce. Platinum has fallen nearly 10 percent so far this year, and at current prices of less than $1,100 an ounce, many shafts in the world's top producing...

  • UK shares fall to 5-1/2 month low, supermarkets sink Tuesday, 30 Jun 2015 | 12:20 PM ET

    *Standard Life slips after downgrade from RBC. LONDON, June 30- Britain's top equity index hit its lowest level since mid-January on Tuesday, pulled down by miners and supermarkets and underperforming even euro zone shares despite Greece being hours away from a repayment default. The FTSE 100 index closed down 1.5 percent, with mining stocks BHP Billiton and...

  • China, the world's dominant producer, was choking supply and investors were stampeding into the hottest ticket in town. The ensuing bust was equally spectacular with prices collapsing as buyers went on strike and China, under international pressure, loosened its stranglehold. With Molycorp and its Australian peer, Lynas, struggling to stay afloat, all the old...

  • *Glencore seen as main competitor for coal assets deals. Davis set up X2 Resources in 2013 only months after commodity group Glencore took over Xstrata. His fund has raised about $5.6 billion and has six main private investors, which include commodity trader Noble Group and private equity group TPG Capital, an Abu Dhabi investment fund and a Canadian pension...

  • LONDON, June 30- X2 Resources, the private equity fund set up by former Xstrata boss Mick Davis, is now in initial bi-lateral talks to buy some of Rio Tinto's Australian coal assets, a source close to the situation said on Tuesday. The mining industry veteran is also considering buying some coal mines Anglo American has put up for sale in Australia, sources close to X2...