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Metals and Mining

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  • MEXICO CITY, April 30- Mexican mining company Industrias Penoles on Wednesday said its profit in the first quarter fell 42 percent from the same period last year as sales sank due to lower metals prices.

  • GENEVA, April 30- Guinea's President Alpha Conde said on Wednesday he hoped Brazilian miner Vale would bid to reclaim two iron ore permits, because the company had not been involved in the alleged corruption that led to their cancellation.

  • 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 concern over sanctions on top refined producer Russia. Business tailed off as traders squared up ahead of market holidays in Shanghai on Thursday and Friday and in London on Monday.

  • NEW YORK/ LONDON, April 30- Deutsche Bank's exit from the London precious metal fixes will leave just two banks running a century-old system that sets the global silver price, likely stirring the debate about regulation of one of the most volatile commodity markets.

  • April 30- Barrick Gold Corp reported a dramatic drop in first-quarter earnings on Wednesday and cut its forecast for 2014 copper production due to damage to the main conveyor at its Lumwana mine in Zambia that had halted ore processing there.

  • *GDP +0.2 pct in Feb, +0.5 pct in Jan, -0.4 pct in Dec. *Seasonally adjusted crop production down on intentions. OTTAWA, April 30- The Canadian economy grew by 0.2 percent in February from January as expected, moving past December's weather-induced decline but growing only at a modest pace, according to Statistics Canada data released on Wednesday.

  • April 30- Barrick Gold Corp reported a sharp drop in first quarter earnings on Wednesday and cut its forecast for 2014 copper production after damage to the main conveyor at its Lumwana mine in Zambia halted processing there.

  • *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.

  • 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.

  • 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.

  • 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.