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Metals and Mining

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  • SINGAPORE, Dec 9- Gold gave up some of its overnight gains on Tuesday as the dollar recovered from losses and oil prices weakened, dulling the metal's appeal as a hedge. *Spot gold had slipped 0.2 percent to $1,200.26 an ounce by 0036 GMT. *Gold jumped more than 1 percent on Monday on a brief surge of late-day technical buying as it breached the $1,200- per-ounce level...

  • NEW YORK, Dec 8- Oil production from the United States' biggest shale plays is poised to keep expanding at the same breakneck pace into early next year, according to new U.S. projections released on Monday that highlighted a slow response to tumbling prices. Oil production from the three main plays- the Bakken, Eagle Ford and Permian Basin- is set to rise by some...

  • GENEVA, Dec 8- An appeals board of the World Trade Organization reversed much of an earlier ruling against the United States on Monday, but it said U.S. duties on Indian steel broke WTO rules and asked the United States to bring them into line with its regulation. An unnamed Indian official told Reuters when the case was launched in 2012 that the United States argued...

  • *Steep year-on-year drop in China's coal, iron ore imports. SHANGHAI, Dec 8- China's monthly imports of most major commodities rose in November on favourable prices and stockpiling, although a gloomy outlook for steel dragged iron ore arrivals down to their second lowest this year. "New environmental rules that will come into force on Jan. 1, 2015 could slow steel...

  • KIEV, Dec 8- Ukraine's government has allowed state energy company Ukrinterenergo to import electricity from Russia to cover current power shortages caused by a lack of coal, the Ukrainian energy ministry said. Ukraine and Russia have joint electricity systems and there are no technical obstacles to such imports, but analysts say importing electricity is...

  • BHP Billiton names spin-off company South32 Monday, 8 Dec 2014 | 2:30 AM ET

    MELBOURNE, Dec 8- A planned spin-off of businesses by global miner BHP Billiton will be called South32 when it seeks multiple stock listings next year, BHP said on Monday. The new name recognizes that most of South32's operations are in the southern hemisphere, with its two regional centers- Australia and South Africa- linked by the thirty-second parallel south...

  • *Energy squeeze since June after Russia gas cut off. Without Russian natural gas imports since June and hit by separatist violence that has disrupted its own coal mining, Ukraine has been forced to introduce mass electricity cuts. To help keep coal-fired power plants operating it turned to South Africa for one million tonnes of coal and received three...

  • *Energy squeeze since June after Russia gas cut off. Without Russian natural gas imports since June and hit by separatist violence that has disrupted its own coal mining, Ukraine has been forced to introduce mass electricity cuts. To help keep coal-fired power plants operating it turned to South Africa for one million tonnes of coal and received three...

  • *Gold falls as much as 1.6 pct before paring losses. LONDON, Dec 5- Gold fell more than 1 percent on Friday after U.S. Spot gold was down 0.7 percent at $1,196.86 an ounce at 1426 GMT, while U.S. gold futures for December delivery were down $9.90 an ounce at $1,197.80.

  • *U.S. Esmark Inc says interested in plant. BELGRADE, Dec 5- Serbia is inviting bids for an 80- percent stake in a loss-making steel mill, aiming to ease pressure on the country's finances. But in a loan deal with the International Monetary Fund agreed last month, the government committed to cut subsidies in order to curb the deficit and cap debt seen at 70 percent of...

  • *Copper eyes biggest weekly rise since late Aug. KUALA LUMPUR/ SYDNEY, Dec 5- London nickel prices rose to their highest in more than two months due to tight supplies of ore, while copper was on track to post its biggest weekly rise since August as prices rebounded from falls earlier in the week. "High-grade nickel ore prices in China have been moving up slowly over the...

  • SINGAPORE, Dec 5- India's iron ore imports rose to a record 6.76 million tonnes in the first seven months of its fiscal year as sliding global prices and limited supply at home pushed steel producers to buy the raw material overseas, industry data showed on Friday. Formerly the world's No. 3 supplier of iron ore, India has been importing over the last two years due to...

  • WILLISTON, N.D./ HOUSTON, Dec 5- U.S. energy firms are swiftly shifting drilling rigs away from less productive areas and hunkering down in sweet spots of North Dakota and Texas shale oil fields as they try to lift output and cut costs in response to the toughest crude market in years. Rig deployments or applications for new well permits fell by half in recent months...

  • BEIJING, Dec 5- The Chinese government has ordered its most polluted province, Hebei, to draw up fresh plans to "upgrade" its economy in a bid to ease its dependence on heavy industries like steel and cement, the Economic Observer newspaper reported on Friday. Hebei, which surrounds the capital Beijing, is China's biggest steel producer and home to seven of the...

  • SYDNEY, Dec 5- London nickel prices struck their highest in more than two months on Friday and were set to notch up a weekly gain of nearly 6 percent, as the price of some nickel ore stocks in China began to rise on dwindling supply. *Three-month nickel on the London Metal Exchange had climbed to $17,199 a tonne by 0135 GMT, its highest since Sept. 26 and a weekly gain of 5.8...

  • KUALA LUMPUR/ LONDON, Dec 4- Copper climbed on Thursday to its highest in nearly a week as the dollar slid following uncertainty about potential stimulus in Europe and after a fire at a mine, though concerns about the outlook for demand from top consumer China limited gains. Three-month copper on the London Metal Exchange closed up 1.3 percent at $6,465 a tonne,...

  • LONDON, Dec 4- Global mining company Rio Tinto is not looking to make any major acquisition to protect itself from a potential Glencore takeover, Chief Executive Sam Walsh said at a meeting with investors on Thursday. Since Rio Tinto rejected a tentative approach from smaller rival Glencore in July, speculation has mounted that it might rush to make an...

  • Proved reserves of crude oil and lease condensate in North Dakota, meanwhile, surpassed those in the federal Gulf of Mexico in 2013, ranking it second only to Texas among U.S. states, EIA said. Collectively, North Dakota and Texas accounted for 90 percent of the overall net increase in U.S. proved oil reserves in 2013.. Tight oil plays accounted for 28 percent of all...

  • KUALA LUMPUR, Dec 4- Copper rose on Thursday as investors hoped for more stimulus in Europe and worried about the impact of a fire at a mine, though concerns about the outlook for demand from top consumer China limited gains. Bolstering financial markets was a meeting of the European Central Bank, which kept the cost of borrowing at record lows.

  • Dec 4- U.S. proven crude oil and lease condensate reserves increased 9.3 percent to 36.5 billion barrels in 2013, up from 33.4 billion barrels in 2012, the U.S. Energy Information Administration said in a report Thursday. EIA also said proven wet natural gas reserves gained 9.7 percent to 354 trillion cubic feet in 2013, up from 322.7 tcf in 2012..