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Metals and Mining

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  • June 19- Aluminum giants Alcoa Inc and Novelis Inc spent decades wooing Detroit's automakers to toss out their heavy steel vehicle bodies and overhaul their factories in order to mass produce vehicles made out of lighter aluminum.

  • SINGAPORE, June 19- Gold held on to modest overnight gains on Thursday after the Federal Reserve cut its outlook for U.S. economic growth, while platinum group metals rose as new hurdles emerged in settling South Africa's mining strike.

  • De Beers' big green machine sucks up Namibian diamonds Wednesday, 18 Jun 2014 | 11:47 AM ET

    CAPE TOWN, June 18- Huge mud-sifting machinery and other technological advances pioneered by De Beers over the past decade have enabled it to profitably exploit the world's largest marine diamond deposits in deep waters off Namibia. It is controlled remotely by a mining vessel called the "Mafuta", and both are undergoing major refurbishment in Cape Town.

  • *Platinum strike dragging South Africa towards recession. The Association of Mineworkers and Construction Union last week put a broad pay offer agreed "in principle" with producers to its members. Impala Platinum said the additional demands included a 3,000 rand "come-back bonus" and a moratorium on all restructuring and retrenchments.

  • The company raised $350 million after the offering of $17.5 million common units, representing limited partner interests, were priced at $20 each. The company's shares opened at $20 on the New York Stock Exchange on Wednesday, but fell to $19.52. Barclays, Citigroup and Morgan Stanley were the lead underwriters for the offering.

  • Wall Street's latest craze: 'Superfracking' Wednesday, 18 Jun 2014 | 7:22 AM ET
    Gas is flared as waste from the Monterey Shale formation where gas and oil extraction using hydraulic fracturing, or fracking, is on the verge of a boom on March 22, 2014 near Buttonwillow, Calif.

    Demand is up for sand used in fracking, which blasts it into wells to crack rock and release oil and natural gas.

  • *Falling coal prices hurting Indonesia's small producers. JAKARTA, June 18- Plunging thermal coal prices will force some small and low-margin producers in Indonesia out of business before year-end, an industry group said, cutting output capacity in the world's top exporter.

  • ANALYSIS-Wall Street's latest fad is built on sand Wednesday, 18 Jun 2014 | 1:00 AM ET

    Emerge Energy Services LP, a master limited partnership that produces sand for use in hydraulic fracturing, began trading a little more than one year ago at $17 per unit. Shares of two other sand miners, U.S. Silica Holdings Inc and Hi Crush Partners LP, have more than doubled in the past year.

  • SYDNEY, June 18- London copper edged to its highest in nearly two weeks on Wednesday, finding comfort in a pledge by Chinese authorities to support growth as well as a shortfall in immediate supply. *The most-traded August copper contract on the Shanghai Futures Exchange climbed by 0.4 percent to 48,320 yuan a tonne.

  • New Zealand rejects undersea iron sand mining project Tuesday, 17 Jun 2014 | 9:18 PM ET

    WELLINGTON, June 18- A project to mine undersea iron ore sands deposits off the New Zealand coast has been rejected because of uncertainty about the environmental impact of the project, the country's Environmental Protection Authority said on Wednesday.

  • WASHINGTON/ NEW YORK, June 17- The U.S. steel industry is considering challenging a trade deal with Russia that governs imports of hot-rolled steel, potentially reviving a decades-old dispute amid mounting tensions over Russia's actions in Ukraine, two sources said.

  • STEEL INDUSTRY CONSIDERS CHALLENGING SUSPENSION AGREEMENT ON ANTIDUMPING DUTIES ON RUSSIAN HOT-ROLLED STEEL IMPORTS- SOURCES.

  • NEW YORK, June 17- The Italian government has asked ArcelorMittal SA to consider investing in or buying troubled Italian steel producer Ilva, the chief executive officer of the world's largest steelmaker said on Tuesday.

  • *Gold falls after hitting 3- week high in previous session. LONDON, June 17- Gold fell on Tuesday as investors withdrew money from the top bullion fund before a Federal Reserve meeting, while platinum traded flat as details had yet to emerge on a wage agreement in the South African mining sector.

  • METALS-Copper gains, China stimulus measures in focus Tuesday, 17 Jun 2014 | 6:36 AM ET

    *China reaffirms 7.5 pct growth target. China is confident it will hit its growth target of 7.5 percent this year, Chinese Premier Li Keqiang said, adding the government was ready to adjust policy to ensure it does.

  • METALS-Copper firms on China stimulus outlook Tuesday, 17 Jun 2014 | 3:58 AM ET

    *Shanghai copper premiums slip by $2.50 to $65- $85. SYDNEY, June 17- London copper steadied on Tuesday after China's leaders reaffirmed a 7.5 percent economic growth target this year, with prospects of further stimulus lifting Shanghai copper to its highest in more than a week.

  • METALS-Copper climbs on China stimulus outlook Monday, 16 Jun 2014 | 10:50 PM ET

    *Iraq tensions underpin oil, metals prices. SYDNEY, June 17- London copper was a touch firmer on Tuesday after China's leaders reaffirmed a 7.5 percent economic growth target this year, with prospects of further stimulus lifting Shanghai copper to its highest in more than a week.

  • LONDON, June 16- The London Metal Exchange, competing to offer a replacement for the London silver price benchmark setting process when the current system is disbanded in August, said on Monday it could offer three alternatives.

  • *European shares lower as Iraq, Ukraine tensions weigh. LONDON, June 16- Gold hit its highest in nearly three weeks on Monday, as turmoil in Iraq and Ukraine supported its safe-haven appeal relative to higher-risk assets like equities, while platinum gained ahead of the outcome of talks to end a strike in South African mines.

  • *Companies need to spend billions to expand in Chile. SANTIAGO/ LONDON, June 16- As top copper producer Chile starts to lose market share, players are betting on fledging suppliers to help feed hunger for the red metal, but no single country is likely to replicate the South American nation's boom of the last century.