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Metals and Mining

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  • *Copper down close to 10 pct so far in Q2. LONDON, June 13- Copper recovered on Friday, as buying picked up a day after prices hit their lowest in 1-1/ 2 months, but the metal was still headed for its third straight week of falls due to concerns over demand and a probe into metals financing in China.

  • JOHANNESBURG, June 13- The leader of South Africa's AMCU union said on Friday a wage deal with the top three platinum producers was imminent, signalling a possible end to a crippling five-month strike that has disrupted global output of the metal.

  • SHANGHAI, June 13- China's crude steel output hit a record of 70.43 million tonnes in May, up 2.6 percent from a year ago, government data showed on Friday, as steel mills in the world's biggest producer looked to meet strong demand.

  • SYDNEY, June 13- London copper edged up on Friday but was still set for its third-straight weekly loss as seasonally strong demand from China passes its peak and on concerns about the pace of growth in the world's No.2 economy. *The most-traded August copper contract on the Shanghai Futures Exchange slipped 0.3 percent to 47,510 yuan a tonne.

  • LIMA, June 12- Peru plans to apply fewer environmental fines and ensure development rights in protected nature reserves as part of a bid to encourage mining and energy investments, the government said on Thursday.

  • SINGAPORE, June 13- Palladium and sister metal platinum regained some strength on Friday after falling sharply in the previous session, as South African producers struck a deal with the union to end a crippling five-month strike. *Palladium rose $5 an ounce to $827.00 by 0015 GMT.

  • Canada gold mine on sale for $2 mln in bitcoin Thursday, 12 Jun 2014 | 4:25 PM ET

    June 12- Gold, the hard asset long seen as the ultimate hedge against risk, has fallen so much out of favor in recent years that the owner of a mine in Canada's historic Yukon gold belt wants to sell the property for $2 million in bitcoin, a virtual currency.

  • NEW YORK/ LONDON, June 12- Platinum and palladium posted their biggest daily losses in almost a year on Thursday, after South African producers struck a deal with the union to end a crippling five-month strike, and violent conflict in Iraq burnished gold's safe haven status.

  • *Lonmin, Implats shares climb, platinum drops. RUSTENBURG, South Africa, June 12- Workers and shop-stewards from South Africa's AMCU mining union begged leader Joseph Mathunjwa to sign a wage deal with three major platinum firms on Thursday at a mass rally crowning five months of crippling protest.

  • JAKARTA, June 12- The chief executives of Freeport McMoRan Copper& Gold Inc and Newmont Mining Corp are both in Indonesia's capital, marking what might be a last-ditch effort to resolve a dispute over a mineral export tax before a new administration takes over in October.

  • LONDON, June 12- Platinum and palladium posted their biggest daily losses for nearly a year on Thursday, after South African producers said they had reached "in principle" undertakings with the union to end a crippling five-month strike.

  • Copper loses its luster - where next? Thursday, 12 Jun 2014 | 10:19 AM ET

    Prices of copper – the industrial metal used in everything from cars to houses – have declined this week, heading towards a one-month low.

  • *Palladium vulnerable to profit-taking after rally. LONDON, June 12- Palladium firmed just below a 13-1/ 2 year high on Thursday as a five-month strike in No.2 producer South Africa showed no signs of ending and triggered buying from industrial users and investors.

  • Evraz to benefit from US rail projects: CFO     Thursday, 12 Jun 2014 | 3:30 AM ET

    Giacomo Baizini, CFO at Evraz, discusses the group's exposure to U.S. infrastructure and in particular rail projects and comments on iron ore.

  • SINGAPORE, June 12- Palladium held steady near a more than 13- year high on Thursday, as supply concerns from a five-month strike in second-largest producer South Africa triggered buying from industrial users and investors. *Cash palladium was little changed at $857.15 an ounce by 0019 GMT.

  • LONDON, June 11- Palladium jumped to its highest level since early 2001 on Wednesday, benefitting from a five-month strike in South Africa and strong demand from the auto sector.

  • EU steelmakers restart blast furnaces, constrain recovery Wednesday, 11 Jun 2014 | 10:44 AM ET

    Still, prices of the alloy are not far off their lowest level in four years, constrained primarily by a 30 percent price decline in raw materials such as iron ore, but also by plentiful supplies in Europe.

  • METALS-Zinc hovers near 15-month peak, copper steadies Wednesday, 11 Jun 2014 | 10:39 AM ET

    *Shanghai copper premiums fall $10 to $70- $90- Shmet. LME copper steadied at $6,881.25 a tonne, up 0.1 percent, after touching $6,628 a tonne on Tuesday, its lowest since May 7 on worries that copper financing in China will be harder to come by as the port probe runs its course.

  • *Shanghai copper premiums fall $10 to $70- $90- Shmet. *New developments in China port probe weigh on copper. LME copper traded down 0.28 percent at $6,656 a tonne in rings, after touching $6,628 a tonne on Tuesday, its lowest since May 7 on worries that copper financing in China will be harder to come by as the port probe runs its course.

  • LONDON, June 11- Palladium hit its highest level in more than three years on Wednesday, underpinned by a five-month strike in South Africa, while gold edged above $1,260 an ounce as European shares slipped and the dollar weakened.