Mike Elliott, Global Mining & Metals Leader at EY, discusses the miner's decision to increase the capacity of its Western Australian operations despite plummeting iron ore prices.» Read More
*Copper down close to 10 pct so far in Q2. LONDON, June 13- Copper recovered on Friday, as buying picked up a day after prices hit their lowest in 1-1/ 2 months, but the metal was still headed for its third straight week of falls due to concerns over demand and a probe into metals financing in China.
JOHANNESBURG, June 13- The leader of South Africa's AMCU union said on Friday a wage deal with the top three platinum producers was imminent, signalling a possible end to a crippling five-month strike that has disrupted global output of the metal.
SHANGHAI, June 13- China's crude steel output hit a record of 70.43 million tonnes in May, up 2.6 percent from a year ago, government data showed on Friday, as steel mills in the world's biggest producer looked to meet strong demand.
SYDNEY, June 13- London copper edged up on Friday but was still set for its third-straight weekly loss as seasonally strong demand from China passes its peak and on concerns about the pace of growth in the world's No.2 economy. *The most-traded August copper contract on the Shanghai Futures Exchange slipped 0.3 percent to 47,510 yuan a tonne.
LIMA, June 12- Peru plans to apply fewer environmental fines and ensure development rights in protected nature reserves as part of a bid to encourage mining and energy investments, the government said on Thursday.
SINGAPORE, June 13- Palladium and sister metal platinum regained some strength on Friday after falling sharply in the previous session, as South African producers struck a deal with the union to end a crippling five-month strike. *Palladium rose $5 an ounce to $827.00 by 0015 GMT.
June 12- Gold, the hard asset long seen as the ultimate hedge against risk, has fallen so much out of favor in recent years that the owner of a mine in Canada's historic Yukon gold belt wants to sell the property for $2 million in bitcoin, a virtual currency.
NEW YORK/ LONDON, June 12- Platinum and palladium posted their biggest daily losses in almost a year on Thursday, after South African producers struck a deal with the union to end a crippling five-month strike, and violent conflict in Iraq burnished gold's safe haven status.
*Lonmin, Implats shares climb, platinum drops. RUSTENBURG, South Africa, June 12- Workers and shop-stewards from South Africa's AMCU mining union begged leader Joseph Mathunjwa to sign a wage deal with three major platinum firms on Thursday at a mass rally crowning five months of crippling protest.
JAKARTA, June 12- The chief executives of Freeport McMoRan Copper& Gold Inc and Newmont Mining Corp are both in Indonesia's capital, marking what might be a last-ditch effort to resolve a dispute over a mineral export tax before a new administration takes over in October.
LONDON, June 12- Platinum and palladium posted their biggest daily losses for nearly a year on Thursday, after South African producers said they had reached "in principle" undertakings with the union to end a crippling five-month strike.
Prices of copper – the industrial metal used in everything from cars to houses – have declined this week, heading towards a one-month low.
*Palladium vulnerable to profit-taking after rally. LONDON, June 12- Palladium firmed just below a 13-1/ 2 year high on Thursday as a five-month strike in No.2 producer South Africa showed no signs of ending and triggered buying from industrial users and investors.
Giacomo Baizini, CFO at Evraz, discusses the group's exposure to U.S. infrastructure and in particular rail projects and comments on iron ore.
SINGAPORE, June 12- Palladium held steady near a more than 13- year high on Thursday, as supply concerns from a five-month strike in second-largest producer South Africa triggered buying from industrial users and investors. *Cash palladium was little changed at $857.15 an ounce by 0019 GMT.
LONDON, June 11- Palladium jumped to its highest level since early 2001 on Wednesday, benefitting from a five-month strike in South Africa and strong demand from the auto sector.
Still, prices of the alloy are not far off their lowest level in four years, constrained primarily by a 30 percent price decline in raw materials such as iron ore, but also by plentiful supplies in Europe.
*Shanghai copper premiums fall $10 to $70- $90- Shmet. LME copper steadied at $6,881.25 a tonne, up 0.1 percent, after touching $6,628 a tonne on Tuesday, its lowest since May 7 on worries that copper financing in China will be harder to come by as the port probe runs its course.
*Shanghai copper premiums fall $10 to $70- $90- Shmet. *New developments in China port probe weigh on copper. LME copper traded down 0.28 percent at $6,656 a tonne in rings, after touching $6,628 a tonne on Tuesday, its lowest since May 7 on worries that copper financing in China will be harder to come by as the port probe runs its course.
LONDON, June 11- Palladium hit its highest level in more than three years on Wednesday, underpinned by a five-month strike in South Africa, while gold edged above $1,260 an ounce as European shares slipped and the dollar weakened.