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Metals and Mining

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  • SINGAPORE, March 11- Chinese steel mills and traders holding iron ore as collateral for financing are rushing to sell to repay loans, traders said, piling more pressure on the steel-making raw material that has lost over a fifth of its value this year.

  • *Freeport says tax breaches contract; govt wants firmer smelter commitments. Freeport and fellow U.S. miner Newmont Mining Corp have refused to pay an escalating export tax introduced on Jan. 12 as part of package of new mining rules aimed at forcing miners to build smelters and process raw materials in Indonesia.

  • JAKARTA, March 11- U.S. mining giant Freeport-McMoRan Copper and Gold Inc has cut production at its Indonesian copper and gold mine by around 60 percent, a union official told Reuters on Tuesday, two months after halting exports over a dispute with the government on a new export tax.

  • Dale Gillham, Chief Market Analyst at Wealth Within, explains why weakness in the majority of Australia's resource shares is 'not a big issue.'

  • SYDNEY, March 11- London copper paused for breath on Tuesday, a day after it slid to 8- month lows, on speculation China's government is taking steps to soothe nerves jangled by a poor trade report that inflamed fears of flagging growth in the world's top user of metals.

  • China's exports unexpectedly tumbled in February, falling 18.1 percent from a year earlier and swinging the trade balance into deficit. The data underscored recent concerns about the outlook for China's economy, even though the Lunar New Year holidays were blamed for the slide.

  • China's exports unexpectedly tumbled in February, falling 18.1 percent from a year earlier and swinging the trade balance into deficit. The data underscored recent concerns about the outlook for China's economy, even though the Lunar New Year holidays were blamed for the slide.

  • Metals: Lots of inventory in China     Monday, 10 Mar 2014 | 12:20 PM ET

    David Wilson, director of metals research and strategy at Citi, discusses metals after the weak Chinese export data and warns that there's "still a lot of contraction to come" for silver.

  • *Iron ore stocks in China swell to record 105 mln tonnes. SINGAPORE, March 10- Chinese steel futures hit record lows and spot iron ore prices posted the biggest one-day fall in over four years on Monday after China's trade balance swung into deficit and amplified fears of a slowdown in the world's No. 2 economy.

  • New spat emerges in South Africa's platinum strike Monday, 10 Mar 2014 | 11:44 AM ET

    JOHANNESBURG, March 10- A public spat emerged on Monday between South Africa's labour mediator and the Chamber of Mines over the former's handling of talks to end an almost seven-week strike in the platinum sector, further dashing hopes of any breakthrough.

  • *Copper and oil hit by China, U.S. jobs data knocks gold. LONDON, March 10- World stocks edged off a six-year peak and commodities from copper to crude oil tumbled on Monday as surprisingly weak Chinese trade data rattled investors already on edge over the crisis in Ukraine.

  • *Iron ore stocks in China swell to record 105 mln tonnes. SINGAPORE, March 10- Chinese steel and iron ore futures fell to their lowest levels ever on Monday after a surprise drop in exports swung China's trade balance into deficit last month and amplified fears of a slowdown in the world's No. 2 economy.

  • *Copper, oil hit by China, stronger US jobs knocks gold. LONDON, March 10- World stocks paused near a six-year peak and commodities from copper to crude tumbled on Monday as surprisingly weak Chinese trade data rattled investors already on edge over the crisis in Ukraine.

  • *Vale risks losing more than $1 billion invested in Guinea. LONDON/ CONAKRY, March 7- A technical committee in Guinea has recommended the government strip BSG Resources and its partner Vale of the rights to exploit a giant iron ore deposit because the panel alleges BSGR obtained the concession through corruption, sources close to the matter said.

  • SYDNEY, March 10- Meteorologists were on Monday monitoring a slow-moving cyclone that has intensified off the east coast of Australia, but said it was unlikely to affect a key mining and commodity export district.

  • SYDNEY, March 10- Shanghai copper dropped by its 5 percent daily limit on Monday to its lowest in more than four years after weak Chinese trade data fanned concerns over its metals industry following the country's first domestic bond default last week.

  • VANCOUVER/ TORONTO, March 9- Private equity firms are going underground. In the past, they have largely shunned mining acquisitions, as the volatility of commodities prices and cash flow made it difficult to structure leveraged deals.

  • Speak up, top French advisor tells women in business Friday, 7 Mar 2014 | 12:25 PM ET

    LONDON, March 7- The first time Anne Meaux met Indian billionaire Lakshmi Mittal he laughed at her. The incident was an early example of an ability to tell unpalatable truths to powerful people that has since propelled Meaux to the position of France's top PR advisor.

  • LONDON, March 5- Ukraine's steel exporters are trying to push into new markets such as in North Africa as a weak currency, battered by political upheaval and tensions with Russia, has pushed rebar prices to 3 1/ 2- year lows.

  • *Copper has lost some 7 pct in 2013 on China demand woes. LONDON, March 7- Copper fell to its lowest level in over seven months on Friday as China's first domestic bond default added to growing concerns this week about slower economic growth in the world's top copper consumer. It was at $6,823 per tonne at 1502 GMT, from a close of $7,055 on Thursday.