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Metals and Mining

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  • LONDON, Dec 4- Copper rose on Wednesday as the dollar fell but the price remained under pressure due to slow demand and rising supplies of the industrial metal. Three-month copper on the London Metal Exchange rose 0.1 percent to $6,970 a tonne by 1123 GMT from $6,960 at the close on Tuesday.

  • Inside Fortescue's Pilbara mines     Tuesday, 3 Dec 2013 | 10:03 PM ET

    As Fortescue Metals puts the finishing touches on the last of its mines in the Pilbara, CNBC's Matt Taylor was given a look inside its Solomon mine.

  • SINGAPORE, Dec 4- London copper edged up on Wednesday, recovering from a two-week lows hit the session before, as a weaker dollar granted some relief to commodities ahead of this week's jobs report that may shed fresh light on U.S. plans to scale back stimulus.

  • CNBC's Matthew Taylor takes a look inside the world's biggest seaborne freight terminal, Port Hedland.

  • Global diamond trade is alive and kicking     Tuesday, 3 Dec 2013 | 6:31 PM ET

    Ari Epstein, CEO of the Antwerp World Diamond Center, describes the global increase in demand he sees and why Belgium is the global hub for diamonds.

  • Asia has long been the fastest growing demand region for the raw materials to power economic growth, but has mostly priced the purchases against benchmarks like Brent crude, London Metal Exchange copper or New York cotton.

  • Agrium says not considering potash job cuts Tuesday, 3 Dec 2013 | 2:36 PM ET

    Dec 3- Canadian potash producer Agrium Inc said on Tuesday that it is not planning job cuts at its Vanscoy, Saskatchewan, mine, even after larger fertilizer rival Potash Corp of Saskatchewan revealed plans to slash staff.

  • *Gold prices slide to lowest since early July. *Gold coin sales from U.S., Perth Mints fell last month. LONDON, Dec 3- Gold prices hit their lowest since early July on Tuesday after U.S. data fuelled expectations that the Federal Reserve is set to taper its monetary stimulus, curbing investment interest in the precious metal.

  • *EuroSTOXX 50 has strong support around 3,000- Commerzbank. *U.S. investors bet on Europe outperformance-RBC CM. Mexican precious metals miner Fresnillo and Africa- focused miner Randgold were also among the top fallers in Europe, off 3.7 and 3.9 percent respectively.

  • MELBOURNE, Dec 3- Rio Tinto said on Tuesday the global miner expects to halve capital spending to $8 billion by 2015 from last year's level to cut debt, as commodities' prices remain fragile. To deal with the tougher conditions, the company has stripped out $2.6 billion in costs so far this year, including nearly halving exploration spending to around $850 million.

  • SINGAPORE, Dec 3- London copper was stuck close to its lowest in nearly two weeks on Tuesday after surprisingly robust U.S. factory data bolstered expectations the Federal Reserve could trim its commodity-friendly stimulus before year-end. *London copper prices hit their lowest since 21 November at $6,965 a tonne on Monday.

  • Rio to slash capital spending to $11 bln in 2014 Monday, 2 Dec 2013 | 5:38 PM ET

    Rio also forecast a resurgence in steel demand in China, its biggest customer for iron ore, estimating demand growth at 7.5 percent this year. The world's no.2 iron ore miner plans to cut capital spending to $11 billion in 2014 from just under $14 billion this year, and sees capital spending at $8 billion in 2015..

  • *Forest Labs rallies after comments; 3 M falls after downgrade. NEW YORK, Dec 2- U.S. stocks closed lower on Monday, with investors unable to find new reasons to keep pushing shares higher after eight straight weeks of gains, while the mining sector slid alongside sharp drops in precious metals prices.

  • NEW YORK, Dec 2- U.S. stocks closed lower on Monday, with investors unable to find new reasons to keep pushing the market higher after eight straight weeks of gains, while mining companies' shares fell alongside a slide in precious metal prices. The Dow Jones industrial average fell 77.83 points, or 0.48 percent, to end unofficially at 16,008.71.

  • SAO PAULO/ RIO DE JANEIRO, Dec 2- Vale SA lowered its investment budget for a third straight year as the world's No. 2 mining company continues efforts to focus expansion on its main iron ore business.

  • *Retailers down; Tesco, Debenhams fall after downgrades. LONDON, Dec 2- European shares edged lower on Monday as German steelmaker ThyssenKrupp plummeted after failing to find a buyer for its problematic Brazilian mill and British retailers were hit by margin worries.

  • *Retailers down; Tesco, Debenhams fall after downgrades. LONDON, Dec 2- European shares edged lower on Monday as German steelmaker ThyssenKrupp plummeted after failing to find a buyer for its problematic Brazilian mill and British retailers were hit by margin worries.

  • *Madagascar holds run-off presidential vote on Dec. 20. ANTANANARIVO, Dec 2- Madagascar's next president will struggle with low metals prices and distrustful companies as he seeks to revive a mining industry that was the main source of foreign investment until a 2009 coup cut flows to a trickle.

  • SAO PAULO, Dec 2- Brazilian iron ore miner Vale SA said on Monday its board approved a 2014 investment budget of $14.8 billion, with 80 percent going to develop new iron ore project and for logistics. The company said in a statement it remained committed to developing its coal project in Mozambique and its Salobo copper and gold project in Brazil.

  • TIMIKA/ JAKARTA, Dec 2- A worker was killed after an incident in an underground section of Freeport McMoRan Copper and Gold Inc's giant Grasberg copper mine in Indonesia on Sunday, the company said. This is at least the third deadly accident at the remote Papua complex this year, including a tunnel collapse in May that killed 28 people.

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