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Metals and Mining

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  • SYDNEY, Nov 27- London copper edged up on Thursday from three-week lows hit in the previous session on prospects that the European Central Bank could ease monetary policy and cushion demand. *The most traded February copper contract on the Shanghai Futures Exchange slipped by 0.2 percent to 46,790 yuan a tonne. *The European Commission presented a 300 billion...

  • Lack of coal may bring Ukraine to its knees this winter Wednesday, 26 Nov 2014 | 8:48 AM ET

    LONDON/ BRUSSELS, Nov 26- A shortage of coal, rather than gas, is likely to plunge Ukraine into freezing darkness this winter as conflict in its east seals off supplies that used to make it self sufficient. "We have no energy reserves now, everything works on maximum and every technical problem can lead to sharp power cuts," said Andrey Favorov, managing director of...

  • METALS-Copper slides on demand doubts, eyes US data Wednesday, 26 Nov 2014 | 2:36 AM ET

    *London copper drops to three-week low. SYDNEY, Nov 26- London copper slipped to a three-week low before regaining some ground ahead of a flood of U.S data later on Wednesday that is forecast to shed positive light on the world's biggest economy. Three-month copper stood at $6,598 a tonne at 0718 GMT, down $8 from the London close.

  • METALS-LME copper losses checked by looming U.S. data Wednesday, 26 Nov 2014 | 12:08 AM ET

    SYDNEY, Nov 26- London metals mostly traded lower, with copper losses held in check on expectations of a flood of positive U.S data later on Wednesday. Most of the London Metal Exchange complex recoiled as signs of weak demand growth in China made for an uncertain fundamental outlook. Three-month copper stood at $6,598.50 a tonne at 0452 GMT, down $7.50 from the...

  • METALS-Copper rebounds on upgrade to U.S. GDP data Tuesday, 25 Nov 2014 | 9:36 PM ET

    GDP data after slipping overnight, while Shanghai futures faced downward pressure. *Three-month copper stood at $6,608.75 a tonne at 0200 GMT, up $2.75 from the London close. *The most-traded January copper contract on the Shanghai Futures Exchange slipped 0.9 percent to 47,250 yuan a tonne.

  • LIMA, Nov 25- A crackdown on illegal gold mining in Peru has spawned new smuggling routes through its porous border with Bolivia with some gangs using human mules, armored cars and light aircraft to evade capture. The gold is ghosted across jungles, rainforest and Lake Titicaca on the mountainous border, and is then sold to dealers who process the precious metal...

  • "A guy can invest in the Alberta oil sands or a Bakken shale-type company and they are going to make a little bit of money, but they are not going to hit that grand-slam home run we are looking for in elephant country," said Mark Sommer, spokesman at Simba Energy. But Ebola, Islamic State and the Ukraine conflict have made an already tough market tougher for these...

  • -Clyde Russell is a Reuters columnist. LAUNCESTON, Australia, Nov 24- What was lacking at BHP Billiton's annual meeting was an admission that what has effectively happened with iron ore is that the company's shareholders are subsidizing the profits of Chinese steel mills. It was around this time that BHP, its Anglo-Australian rival Rio Tinto, newcomer Fortescue...

  • Reading BHP's plan for deeper cost cuts   Sunday, 23 Nov 2014 | 9:53 PM ET
    Reading BHP's plan for deeper cost cuts

    Gavin Wendt, Founding Director & Senior Resource Analyst at Mine Life, says the miner's announcement on Monday is a move to reassure markets that it can handle the fall in commodity prices.

  • *BHP aims for at least $4 bln in savings by June 2017. MELBOURNE, Nov 24- BHP Billiton stepped up its cost-cutting plans on Monday as the world's biggest miner battles a sharp slide in iron ore, coal and oil prices, and said the unloved assets it is spinning off are still making money despite the rout. BHP expects to reap savings of at least $4 billion by June 2017, up from an...

  • MELBOURNE, Nov 24- BHP Billiton stepped up its cost-cutting plans on Monday as the world's biggest miner battles a sharp slide in iron ore, coal and oil prices. BHP expects to reap savings of $4 billion by June 2017, up from an earlier forecast for $3.5 billion, in cost cuts over the next three years, according to slides prepared for an investor presentation on Monday.

  • HOUSTON, Nov 21- Energy companies have long touted to Wall Street investors the number of acres they lease or own as a measure of how many oil and gas shale wells they can potentially drill. Several smaller operators in the Permian Basin of Texas, including RSP Permian Inc, Laredo Petroleum Inc and Callon Petroleum Co, are telling investors there is more than meets...

  • *State-controlled KGHM is one of Poland's biggest companies. Poland's environment ministry, which allocates concessions, denied it gave preferential treatment to KGHM over Canadian Miedzi Copper, which has filed a lawsuit, or British firm Darley Energy, which has submitted an appeal. KGHM, Europe's second-largest copper producer and an industrial champion...

  • European shares extend rally after China rate cut Friday, 21 Nov 2014 | 6:48 AM ET

    PARIS, Nov 21- European stocks extended an early rally on Friday morning, led by mining shares after China's central bank cut its benchmark interest rate for the first time in more than two years in an attempt to lift its cooling economy. European mining shares, strongly affected by China's economic growth, featured among the top gainers, with Rio Tinto up 3.9...

  • METALS-Prices rally after China cuts interest rates Friday, 21 Nov 2014 | 6:22 AM ET

    *China cuts benchmark rates for first time in two years. LONDON, Nov 21- Metals prices rose on Friday after China cut benchmark interest rates in a bid to jumpstart its economy, while expectations of raw material scarcity gave a further lift to nickel which hit a five-week high. Three-month copper on the London Metal Exchange hit a session high of $6,748 a tonne...

  • Quebec's ambitious Plan Nord mineral project goes south Thursday, 20 Nov 2014 | 5:54 PM ET

    MONTREAL/ VANCOUVER, Nov 20- A plan by the Canadian province of Quebec to spend billions to develop the mineral riches of its northern region has been dealt a crippling blow by the pending closure of a major mine as iron ore prices sink and China's interest wanes. But Plan Nord took a big hit on Wednesday, when Cliffs Natural Resources said it is closing its Bloom Lake...

  • *Platinum briefly dips to a discount to gold. NEW YORK/ LONDON, Nov 20- Gold rose on Thursday on data showing rising U.S. inflation, and after the previous day's 1- percent drop triggered renewed physical interest by price-sensitive Asian buyers. Spot gold was up 0.7 percent at $1,191.44 an ounce by 1:55 p.m. EST, while U.S. gold futures for December delivery settled...

  • LONDON, Nov 20- Daily average aluminium production in the world outside China slid to 66,200 tonnes in October, according to the International Aluminium Institute. The cutback impetus is fading just about everywhere outside South America, while news that one European smelter, the Aldel plant in the Netherlands, is planning a restart may be a harbinger of a major...

  • *Focus on north of England and Scotland. LONDON, Nov 20- Swiss chemicals group Ineos announced on Thursday plans to invest $1 billion in shale gas exploration in Britain, hoping to emulate the U.S. shale boom in one of few European countries to endorse controversial fracking technology. The $1 billion investment, which is subject to Ineos winning UK shale gas...

  • LONDON, Nov 20- Copper slipped on Thursday as weak manufacturing in China and slower business growth in the euro zone raised concerns about demand, while nickel hit a five-week high due to expectations of an ore shortage. In top metals consumer China, growth in its vast factory sector stalled in November, with output contracting for the first time in six months,...