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Metals and Mining

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  • *Gold posts for 0.3 percent weekly increase. NEW YORK/ LONDON, May 16- Gold fell on Friday as encouraging U.S. housing data weighed on its appeal as a hedge against economic weakness, while platinum notched its biggest weekly gain in a month and a half as strikes in South Africa continued.

  • LONDON, May 16- London's precious-metal price benchmarks, including silver, the century-old gold "fix" and platinum group metals are on the verge of major transformation, industry sources say, as regulatory scrutiny and lawsuits hasten action.

  • RIO DE JANEIRO, May 16- Brazilian mining giant Vale said on Friday it plans to close its Integra coal mine in Australia because it is losing money, the latest in company efforts to row back from non-core overseas assets. The price of thermal coal fell 40 percent in the last three years as coal supply remained robust and demand fell in Europe and China.

  • How world leaders can spur growth: Rio Tinto CEO Friday, 16 May 2014 | 11:11 AM ET
    Cass Scenic Railroad State Park, West Virginia

    As a global business, Rio Tinto CEO Sam Walsh AO offers this advice to world leaders for how to spur growth.

  • LONDON, May 16- London's precious-metal price benchmarks, including silver, the century-old gold "fix" and platinum group metals are on the verge of major transformation, industry sources say, as regulatory scrutiny and lawsuits hasten action.

  • *Copper on track for biggest weekly gain in 7 weeks. *New Caledonia nickel mine may have delayed restart. In China, traders have held on to their stocks, while producers there and in Japan scramble for supplies.

  • SHARES IN MEXICO CEMENT PRODUCER CEMEX RISE MORE THAN 1 PCT DAY AFTER COMPANY APPOINTS NEW CEO, CHAIRMAN.

  • LONDON, May 16- "We expect that the price in the second half will be better than the first half. One thing is for sure, the price will not go below $110 on a sustainable basis. So said José Carlos Martins, executive officer of ferrous and strategy at Vale, the world's largest producer of iron ore, speaking on the Brazilian company's Q1 analysts call.

  • *Gold heads for 0.5 percent weekly increase. LONDON, May 16- Gold struggled below $1,300 an ounce on Friday, as data indicating brighter prospects for the U.S. economy reinforced views that the Federal Reserve will maintain its pace of stimulus tapering.

  • *To spend almost all working capital on South Africa mine. May 15- Canada's Ivanhoe Mines Ltd said it would not be able to advance development of two mines in the Democratic Republic of Congo this year unless it gets more funds by the end of the second quarter, sending its shares down as much as 7 percent in early trading.

  • May 15- Canada's Ivanhoe Mines Ltd said it would not be able to advance development of two mines in Democratic Republic of Congo this year unless it gets more funds by the end of the second quarter. Kamoa is a copper deposit while Kipushi also contains zinc, lead and germanium, Ivanhoe said in its first-quarter earnings release on Thursday.

  • *Gold heads for 0.5 percent weekly increase. LONDON, May 16- Gold struggled below $1,300 an ounce on Friday, as data indicating brighter prospects for the U.S. economy reinforced views that the Federal Reserve will maintain its pace of stimulus tapering.

  • *Copper on track for biggest weekly gain in 7 weeks. 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.

  • SYDNEY, May 16- Global miner Vale late on Thursday submitted a report on an effluent spill at its nickel operations in New Caledonia to the local government, a government official said. I think it will be longer than they're suggesting to bring it back to normal operations, "said analyst Tom Price of UBS in Sydney.

  • TANGSHAN, China, May 16- Credit controls imposed on China's debt-ridden steel sector have left many producers unable to afford upgrades needed to survive the country's war on pollution, and 80 million tonnes of capacity could shut in two years, an industry official said.

  • ISTANBUL, May 16- The death toll in this week's mining accident in western Turkey is unlikely to be more than 302 people, Turkey's Energy Minister Taner Yildiz said on Friday.

  • *Gold holds overnight losses after strong U.S. data. SINGAPORE, May 16- Gold struggled below $1,300 an ounce on Friday as U.S. jobs and factory data indicated brighter prospects for the economy, hurting the metal's appeal as an investment hedge.

  • PRECIOUS-Gold holds below $1,300 on solid U.S. data Thursday, 15 May 2014 | 8:36 PM ET

    SINGAPORE, May 16- Gold struggled below $1,300 an ounce on Friday as U.S. jobs and factory data indicated brighter prospects for the economy, hurting the metal's appeal as an investment hedge.

  • NEW YORK, May 15 (Reuters)- Hedge fund Paulson& Co in Q1 maintained its stake in SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund as bullion prices rebounded from their biggest annual loss in 32 years in 2013, while PIMCO dissolved its gold ETF investment.

  • METALS-Nickel recoups some losses after falling 10 pct Thursday, 15 May 2014 | 12:26 PM ET

    LONDON, May 15- Nickel prices recouped some losses on Thursday, paring an earlier 10 percent fall as investors seized the opportunity to jump back into a market, where there are expectations of future gains as supply shortages become more severe.