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Metals and Mining

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  • Aug 8- Contractors at ArcelorMittal SA's iron ore mine in Liberia are evacuating the country and other miners are sending staff home to prevent the spread of the deadly Ebola virus. A prolonged outbreak, however, will threaten mineral production in Sierra Leone, Liberia and Guinea if essential supplies are disrupted and employees stay away from work too long.

  • BRUSSELS, Aug 8- Steel and mining company ArcelorMittal on Friday announced force majeure on a project that is planned to triple its iron ore production in Liberia because of the Ebola epidemic sweeping West Africa.

  • *Exports from China jump 14.5 pct in July. LONDON, Aug 8- Copper prices steadied on Friday, but remained near a five-week low due to increased supply and lacklustre demand from top consumer China. In the latest development in the Ukraine crisis, the head of NATO urged Russia to "step back from the brink" of war by pulling its troops back from the Ukrainian border.

  • *Gold shares up 22%, heavily outperform basic gold price. LONDON, Aug 8- Gold mining shares are bouncing back from a disastrous 2013 and are expected to far outperform the price of the metal in coming months as company efficiency measures lure investors back to the sector.

  • *Exports from China jump 14.5 pct in July. LONDON, Aug 8- Copper prices slipped on Friday, dragged lower by increased supplies and lacklustre demand from top consumer China, with the metal on track to post its biggest weekly drop in three weeks.

  • *Gold set to snap three-week losing streak. SINGAPORE, Aug 8- Gold climbed to 2-1/ 2- week highs on Friday after U.S. "There is some panic in the equity markets after the Iraq announcement, and that along with the Ukraine crisis is bringing safe-haven demand for gold," said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong.

  • SINGAPORE, Aug 8- Gold dipped on Friday after two days of gains, but remained on track to snap a three-week losing streak as geopolitical tensions over Ukraine lift the metal's safe-haven appeal. *Gold has been boosted by risk-aversion sentiment in the market, after U.S. and European equities slumped fearing a worsening of tensions between Russia and the West.

  • Aug 7- Cliffs Natural Resources Inc, an iron ore and coal producer, said on Thursday that Lourenco Goncalves, a former steel company executive, was named to run the company after activist investor Casablanca Capital triumphed in a proxy battle.

  • CALGARY, Alberta, Aug 7- Canadian Natural Resources Ltd, the country's No.2 oil and gas company, lowered its 2014 oil production guidance on Thursday as a result of issues at its Kirby South and Primrose oil sands projects in northern Alberta.

  • GENEVA, Aug 7- China lost an appeal at the World Trade Organization in a case brought by the United States, the European Union and Japan to challenge China's restrictions on exports of rare earths, according to a WTO Appellate Body ruling published on Thursday.

  • WASHINGTON, Aug 7- The United States should lift its nearly four-decade ban on crude oil exports to help encourage domestic production, the Washington Post said in an editorial on Thursday. Booming shale oil production has led to an intense debate over the moratorium, which was imposed by Congress in 1975 in the wake of the Arab oil embargo.

  • LONDON, Aug 7- Rio Tinto indicated it would not take part in a tender for the mining rights for the northern half of the disputed Guinea iron ore deposit Simandou, saying the government would prefer other companies to invest.

  • GENEVA, Aug 7- China lost an appeal at the World Trade Organization in a case brought by the United States, the European Union and Japan to challenge China's restrictions on exports of rare earths, according to a WTO Appellate Body ruling published on Thursday.

  • China's appeal fails to overturn WTO rare earths ruling Thursday, 7 Aug 2014 | 11:06 AM ET

    GENEVA, Aug 7- China has lost its appeal at the World Trade Organization in a case brought by the United States, the European Union and Japan to challenge China's restrictions on rare earths exports, according to a WTO Appellate Body ruling published on Thursday.

  • *Element of concern over Ukraine/ Russia strain- analyst. "For nickel there is an element of increased concern surrounding Russia, and we've seen that in some of the Ukraine/ Russia- related products," Vicky Sanders, head of analytics, sales at Marex Spectron, said.

  • *H1 underlying earnings $5.12 bln vs $4.78 bln view of analysts. *Rio's UK shares jump 3 pct after results. MELBOURNE, Aug 7- Anglo-Australian miner Rio Tinto raised hopes it could boost cash returns to investors sharply in February after topping market forecasts on Thursday with a 21 percent rise in first-half profit.

  • Rio Tinto: Aluminium performing 'extremely' well  Thursday, 7 Aug 2014 | 4:40 AM ET

    Gavin Wendt, founding director and senior resource analyst at Mine Life, describes Rio Tinto's results as "sensational" and discusses the group's performance and outlook.

  • JAKARTA, Aug 7- Freeport-McMoRan Inc's Indonesia unit will complete on Thursday loading for its first copper concentrate export shipment since new mining rules were introduced in the Southeast Asian nation, the unit's CEO said.

  • Rio Tinto 'over-achieved': CEO  Thursday, 7 Aug 2014 | 4:20 AM ET

    Sam Walsh, CEO of Rio Tinto, comments on the group's results - which beat expectations - as well as the outlook for iron ore. He also says the company plans to "materially" increase shareholder returns.

  • *Papua New Guinea nickel mine halted due to unrest, then resumes. SYDNEY, Aug 7- London copper was steady on Thursday, after touching a five-week trough in the previous session, after the dollar eased from nine-month peaks in overnight trade and relieved pressure on metals.