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Metals and Mining

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  • *Its facilities could be sold for a symbolic 1 euro- Italian media. NEW DELHI/ LONDON, April 30- India's billionaire brothers, Naveen and Sajjan Jindal, could be the answer Pope Francis is looking for.

  • April 30- Canadian oil and gas producer Cenovus Energy Inc reported a better-than-expected operating profit, helped by a 48 percent jump in production at its Christina Lake oil sands project in northern Alberta.

  • April 30- Barrick Gold Corp, the world's largest gold miner, reported a 90 percent fall in quarterly earnings, hurt by lower gold prices and production. Net earnings attributable to shareholders fell to $88 million, or 8 cents per share, in the first quarter ended March 31, from $847 million, or 85 cents per share, a year earlier.

  • GENEVA, April 30- Guinea's President Alpha Conde said on Wednesday he would welcome a bid by Brazilian miner Vale for re-allocation of mining permits because it had not been involved in the corruption that led to their cancellation.

  • April 30- Canadian oil and gas producer Cenovus Energy Inc reported a 44 percent rise in first-quarter profit, helped by increased production at its Christina Lake oil sands project in northern Alberta.

  • LONDON, April 30- Nickel prices inched higher on Wednesday, on track to post their biggest monthly gain in 19 months, on tight supplies from Indonesia and fears of sanctions on top refined producer Russia. Three month nickel on the London Metal Exchange rose 1 percent to $18,350 a tonne at 0927 GMT.

  • GENEVA, April 30- Guinea's President Alpha Conde said on Wednesday that he would strongly welcome a bid by Vale for re-allocation of mining permits, stating that the Brazilian miner had not been involved in the corruption that led to their cancellation.

  • Aluminum in 'good position': Norsk Hydro CEO     Wednesday, 30 Apr 2014 | 4:15 AM ET

    Eivind Kallevik, CFO at Norsk Hydro, says the aluminium sector is in a good position at the moment as demand for the metal outpaces production.

  • SYDNEY, April 30- Australian mining firm Padbury Mining's $6.5 billion deal to fund a new iron ore port and rail development on the resource-rich western coast has fallen through, the company said on Wednesday.

  • Jacques van den Broek, CEO of Randstad, says the French market is still "sluggish" but the U.S. has returned to being a growth market for the company.

  • UPDATE 1-Miner Grupo Mexico's Q1 profit drops 35 pct Tuesday, 29 Apr 2014 | 9:45 PM ET

    MEXICO CITY, April 29- Mexican metals miner and railroad operator Grupo Mexico said on Tuesday its first-quarter profit fell 34.8 percent compared with the same period a year earlier as an increase in production failed to offset steep falls in metal prices.

  • SYDNEY, April 30- London copper inched higher on Wednesday but remained below recent eight-week peaks, underpinned by tight credit conditions in top consumer China and as volumes fade ahead of a string of economic data and a series of holidays this week. *Copper on Monday stretched to its highest since March 7 at $6,798 a tonne.

  • Venezuela to crush cars, bikes to build houses Tuesday, 29 Apr 2014 | 5:44 PM ET

    CARACAS, April 29- Venezuela said on Tuesday it would start crushing abandoned cars and bicycles to provide raw materials for housing construction and supplement drastically reduced amounts of local steel.

  • MARIKANA, South Africa, April 29- Members of South Africa's striking mining union AMCU have rejected the latest wage offer from the world's top three platinum producers, its president said on Tuesday, extending a crippling 14- week stoppage.

  • STOCKHOLM, April 29- Compressor and mining equipment maker Atlas Copco forecast a slight rise in group-wide demand in the coming months as a pick up in the manufacturing and construction sectors more than offset lingering weakness from a slump in mining spending.

  • *Newmont and Barrick shares slide on the NYSE. By Euan Rocha, Allison Martell and Soyoung Kim. TORONTO/ NEW YORK, April 28- Failed merger talks between Barrick Gold Corp and Newmont Mining Corp descended into acrimony on Monday, with the two large gold miners publicly accusing each other of scuppering a deal favored by many investors.

  • *Platinum outperforms as S.African mine strike grinds on. NEW YORK/ LONDON, April 28- Gold prices fell on Monday after pressure from stronger-than-expected U.S. home sales data pushed prices below a key level of $1,300 an ounce, prompting some investors to reduce bullion positions despite heightened geopolitical tensions.

  • LONDON, April 28- It's been a while but the ultimate copper buyer is back in town. China's State Reserves Bureau, which manages the country's strategic commodity stockpile, has just skimmed a couple of hundred thousand tonnes from the mountain of copper sitting in Shanghai's bonded warehouse zone.

  • SHANGHAI, April 28- China's banking regulator has urged local authorities and banks to step up an investigation into iron ore financing deals in a bid to minimize default risks, prompting a sell-off in iron ore futures that saw prices fall nearly five percent. A China Banking Regulatory Commission spokesman declined to comment.

  • *Gold steady as Ukraine woes lift prices from 2-1/ 2 mth low. LONDON, April 28- Gold prices steadied above $1,300 an ounce on Monday, underpinned by concerns that tensions in Ukraine could escalate, while platinum outperformed as a strike across the South African platinum belt entered a third month.