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Metals and Mining

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  • SINGAPORE, May 15- Palladium and platinum looked likely to extend a three-day rally on Thursday as labour tensions rose in major producer South Africa, threatening to further impact supply from a 16- week strike.

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Furious Turks heckled Prime Minister Tayyip Erdogan and jostled his entourage on Wednesday as protests erupted in several cities over a coal mine disaster in which at least 274 people died, making it the worst industrial accident in the nation's history.

  • NEW YORK/ LONDON, May 14- Palladium hit 2-1/ 2 year highs on Wednesday as platinum group metals continued a sensational run higher spurred by continued concerns about supplies from major producer South Africa, while gold rose on expectations of more stimulus measures in Europe.

  • MELBOURNE/ HONG KONG, May 15- The days when Australian mining magnates could dictate terms to Chinese buyers are over. "This may get the wheels turning where other Chinese companies are sitting with big stakes and have an inside track," said Paul Donnelly, executive director at JPMorgan, who works on metals and mining deals.

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Hopes faded of finding more survivors in a coal mine in western Turkey on Wednesday, where 245 workers were confirmed killed and around 120 still feared to be trapped in what is likely to prove the nation's worst ever industrial disaster.

  • Since Indonesia banned the export of unprocessed nickel ores in January, prices of ore and of refined nickel have soared. In China, traders have held on to their stocks, while producers there and in Japan scramble for supplies.

  • Nickel due to let off more steam, but rally to power on Wednesday, 14 May 2014 | 11:38 AM ET

    *Indonesia ban akin to cut-off of Saudi supplies in oil. LONDON/ SINGAPORE, May 14- Nickel is likely to see a deeper retreat than Wednesday's 5 percent fall, but it is also due to bounce back as long as top exporter Indonesia keeps squeezing supply and stainless steel producers can absorb higher prices.

  • Lonmin: Has breaking point been reached?     Wednesday, 14 May 2014 | 11:35 AM ET

    Tom Wilson, director of intelligence and analysis at Africapractice, discusses the on-going weeks-long strike in Lonmin's South African platinum mines and what it means for the metal.

  • TURKISH MINE OPERATOR SOMA KOMUR SAYS NEARLY 450 OF ITS WORKERS WERE RESCUED AFTER DEADLY FIRE AT COAL MINE.

  • Turkish mine explosion: Death toll rises     Wednesday, 14 May 2014 | 11:16 AM ET

    The death toll following an explosion at a Turkish mine keeps on rising, says Emre Peker, reporter at The Wall Street Journal, adding that demonstrations have started in response to some of the Prime Minister's comments.

  • NEW DELHI/ MUMBAI, May 14- Tata Steel Ltd said a phase of solid economic growth in Europe was supporting a recovery in steel demand in its main market, which also helped the company post results that easily beat analysts' estimates in the March quarter. Tata Steel got a foothold in Europe through its $13 billion acquisition of Britain's Corus in 2007..

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Hopes faded of finding more survivors in a coal mine in western Turkey on Wednesday, where 238 workers were confirmed killed and 120 more still feared to be trapped in what is likely to prove the nation's worst ever industrial disaster.

  • FACTBOX-What is the London silver fix? Wednesday, 14 May 2014 | 9:14 AM ET

    May 14- The 117- year-old global benchmark price for spot silver, known as the silver fix, is to be scrapped from August. The fix is set every day at noon by three banks, who get together over the telephone to work out the price at which their customers are willing to buy and sell the metal.

  • *Platinum, palladium rise on South Africa. LONDON, May 14- Gold rose around one percent on Wednesday after the dollar and European equities came under pressure as investors awaited confirmation of further stimulus measures from the European Central Bank.

  • *Gold reserves fell to unsustainable levels. RABAT, May 13- Morocco's biggest miner Managem has ended gold extraction in the southern Akka gold mines after reserves fell to non-viable levels, leading to the loss of around 300 jobs from its own staff and contractors, it said on Wednesday.

  • *Coal tops the list for deaths in energy sector. *Coal is also a major polluter. Coal mining is responsible for more fatalities than the production of any other energy source due to poor working conditions in producing countries such as China, Turkey, South Africa, Indonesia and Colombia.

  • *Platinum, palladium rise on South Africa. LONDON, May 14- Gold rose on Wednesday after the dollar and European equities came under pressure as investors awaited confirmation of further stimulus from the European Central Bank.

  • METALS-Nickel slips from 27-month highs, copper gains Wednesday, 14 May 2014 | 6:00 AM ET

    LONDON, May 14- Nickel prices slipped on Wednesday as a rally that had propelled the metal to 27 month highs ran out of steam, but concerns about tightening supplies are likely to keep prices supported. Three-month nickel on the London Metal Exchange fell 1 percent to $20,781 a tonne at 0936 GMT, after rising the last six trading sessions.

  • *Turkey declares national mourning for three days. SOMA, Turkey, May 14- Rescuers pulled more dead and injured from a coal mine in western Turkey on Wednesday more than 19 hours after an explosion, bringing the death toll to 205 in what could become the nation's worst ever mining disaster.

  • UPDATE 2-AMCU strikers block South Africa platinum mines Wednesday, 14 May 2014 | 4:09 AM ET

    *Lonmin had been aiming for a "mass return". MARIKANA, South Africa, May 14- About 1,000 stick-wielding strikers gathered outside Lonmin's Marikana platinum mine in South Africa on Wednesday, preventing workers from breaking the longest and costliest bout of industrial action in the sector's history.