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Metals and Mining

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  • JAKARTA, July 18- Indonesia has resumed some exports of metal ore concentrates after two firms gained permits to ship iron ore, zinc and lead, a mining ministry official said, the first shipments of their kind since the country changed its export rules in January.

  • *Copper faces biggest weekly loss since early June. LONDON, July 18- Copper fell to a two-week low on Friday, and its weekly performance headed for the biggest drop in 18 weeks, on concerns about the Chinese property sector and an outlook for increased production. Copper has dropped nearly 3 percent this week, the biggest weekly drop since mid-March.

  • SYDNEY, July 18- London copper slipped on Friday and was set to notch up its biggest weekly loss since early June as nagging concerns about China's property sector and an influx of stocks to exchange inventories dimmed the price outlook for the metal. A sharp downturn in China's housing sector has soured copper's demand prospects.

  • SYDNEY, July 18- Shanghai copper edged down in early trade on Friday, and was targeting a second consecutive weekly loss as jitters persist about the health of China's property sector, while rising exchange stocks signaled easier supply ahead.

  • SINGAPORE/ LONDON, July 18- Iran's iron ore industry is in crisis because of low prices, a senior industry official said, with June exports the lowest in nearly two years and ore piling up at ports. Nearly all Iran's iron ore exports go to China and were worth a total of $2.4 billion in 2013, based on Chinese customs data.

  • *Malaysian airliner crash intensifies Ukraine tensions U.S. imposes more sanctions on Russia. NEW YORK/ LONDON, July 17- Gold surged 1.5 percent on Thursday as investors sought shelter in the precious metal on fears of further turmoil after news that a Malaysian passenger jetliner had been downed in Ukraine.

  • BRASILIA, July 17- Brazilian aircraft maker Embraer agreed to sell up to 60 commercial passenger jets to China and mining company Vale received two new credit lines from Beijing, as the presidents of the two countries signed agreements to deepen commercial ties.

  • Cliffs, a Cleveland- based iron ore and metallurgical coal producer, is locked in a proxy battle with Casablanca, which owns 5.2 percent of Cliffs' stock and accuses the company of destroying shareholder value. Casablanca wants to replace Cliffs' chief executive officer with its own nominee and six of the 11 board members, a majority, with its candidates.

  • NEW YORK/ LONDON, July 17- Gold surged 1.3 percent on Thursday as investors sought shelter in the precious metal on fears of further turmoil after news that a Malaysian passenger jetliner had been downed in Ukraine.

  • NEW YORK/ LONDON, July 17- Gold prices climbed more than 1 percent on Thursday on heightened geopolitical tensions and news of more U.S. sanctions against Russia, while palladium rose more than 1 percent on renewed supply worries.

  • JAKARTA, July 17- Newmont Mining risks its Indonesian mining licence being taken over by a state-owned firm if the U.S. miner does not resume copper production, the Southeast Asian nation warned, escalating a six-month dispute over export rules.

  • LONDON, July 17- Copper prices dropped to their lowest level in two weeks on Thursday due to intensifying concerns about the outlook for metal demand from the property sector after a Chinese builder warned of a possible bond default.

  • *Palladium prices hit highest since February 2001. LONDON, July 17- Gold rose on Thursday, extending the previous day's recovery from four-week lows as investors took advantage of lower prices to buy, though expectations that U.S. monetary policy is set to tighten limited gains.

  • *China builder warns it may default on bond. China's economic growth picked up slightly in the second quarter as stimulus measures paid dividends, but analysts said Beijing needs to offer more support to meet its annual growth target as the property market slows. "Yesterday's data was positive for metals demand," said Joel Crane of Morgan Stanley in Melbourne.

  • JAKARTA, July 17- Indonesia stepped up pressure on Newmont Mining over a six-month old dispute that has halted copper exports, warning it could hand the U.S. miner's licence to a state-owned firm if it does not resume shipments.

  • JAKARTA, July 17- Indonesia's government may offer Newmont Mining Corp's copper contract to state-owned Aneka Tambang if the U.S. company does not quickly resume production, a government official said on Thursday.

  • *China builder warns it may default on bond. "Yesterday's data was positive for metals demand," said Joel Crane of Morgan Stanley in Melbourne. The most-traded September copper contract on the Shanghai Futures Exchange slid 1 percent to 50,050 yuan a tonne by 0240 GMT, having slipped to 49,930 yuan earlier- its weakest since July 2.

  • SYDNEY, July 17- Shanghai copper fell to its lowest in a fortnight on Thursday as jitters over a possible bond default in China's construction sector triggered a round of profit taking. *The most-traded September copper contract on the Shanghai Futures Exchange slid 1 percent to 50,050 yuan a tonne in overnight trade.

  • NEW YORK, July 16- U.S. precious metals dealer Anthem Vault Inc said on Wednesday it has launched the first digital currency backed by physical gold, with an aim to increase the use of bullion as an accepted form of electronic money.

  • TORONTO/ VANCOUVER, July 16- Barrick Gold Corp said on Wednesday its chief executive officer will step down in September and not be replaced, concentrating power in the hands of the miner's new executive chairman, John Thornton. The world's biggest gold miner appointed two co-presidents to help run the company after Jamie Sokalsky's departure as CEO.