Metals and Mining
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Discussing whether it's time to buy gold now, with Joseph Greco, Meridian Equity Partners, and Jeff Kilburg, KKM Financial. (3:43)
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UNITED NATIONS, March 1- Commodities giant Glencore supplied thousands of tons of alumina to an Iranian firm that has provided aluminum to Iran's nuclear program, intelligence and diplomatic sources told Reuters.
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LONDON, March 1- Global miner Rio Tinto has appointed investment banks Credit Suisse and CIBC to sell its majority stake in Canada's largest iron ore producer, two sources familiar with the matter said.
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*Glencore, Xstrata to report 2012 earnings on March 5. LONDON, March 1- Investors are hoping for clues next week on asset sales, cost cuts and future deals in store for commodities trader Glencore, as its $35 billion takeover of miner Xstrata nears completion.
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Renewed unease about sovereign and regulatory risk in Mongolia - triggered by a dispute between the government and mining giant Rio Tinto over the Oyu Tolgoi copper and gold project - is on the rise but shouldn't erode confidence among longer term investors in the mineral-rich nation.
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UNITED NATIONS, March 1- Commodities giant Glencore supplied thousands of tons of alumina to an Iranian firm that has provided aluminum to Iran's nuclear program, intelligence and diplomatic sources told Reuters.
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SINGAPORE, March 1- London copper fell to its lowest in more than two months on Friday following a more than 4- percent drop in February, with the outlook for demand hurt by disappointing economic data from China and worries over U.S. spending cuts.
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SINGAPORE, March 1- London copper was steady on Friday and was set to close the week flat, while Shanghai copper fell to its lowest in two months as disappointing Chinese factory data and worries over U.S. spending cuts dragged on prices. *The most-traded June copper contract on the Shanghai Futures Exchange dropped 1.21 percent to 57,000 yuan a tonne.
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SINGAPORE, March 1- London copper edged up on Friday but was set to close the week flat, with disappointing Chinese factory data and worries over U.S. spending cuts dragging.
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Jay Richards, Investment Manager, GTL Capital Management says the Mongolian government is in a better position than Rio Tinto in terms of pressuring the company to come to terms with payments on the Oyu Tolgoi copper and gold mine.
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*Government says Vale owes about $15.2 billion in back taxes. BRASILIA, Feb 28- Brazil's Supreme Court will rule in the first half of this year on whether iron ore miner Vale SA must pay an estimated $15.2 billion in taxes on earnings from its operations abroad, the president of the court said on Thursday.
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*Gov't says Vale owes about $15.2 billion in back taxes. BRASILIA, Feb 28- Brazil's Supreme Court will rule in the first half of this year on whether iron ore miner Vale must pay an estimated $15.2 billion taxes on earnings from its operations abroad, the president of the court said on Thursday.
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Feb 28- ConocoPhillips plans to reduce its exposure to higher-cost projects such as the Australia Pacific LNG project and Canada's oil sands in an effort to free up funds for shale development, the company's CEO told analysts on Thursday.
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TORONTO, Feb 28- Freeport-McMoRan Copper& Gold Inc said on Thursday it plans to issue senior notes through a private placement, with the proceeds to help fund the copper producer's move into oil and gas production.
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*Pick-up in China metals demand fails to materialize. LONDON, Feb 28-- Copper slid on Thursday after data showed the U.S. economy barely grew in the fourth quarter and as metals investors worried over scant demand from top consumer China.
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Molycorp is delaying its quarterly results and annual report as it has yet to determine the size of a goodwill impairment charge it will have to book in the fourth quarter, it said on Thursday.
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*Pick-up in China metals demand fails to materialise. Federal Reserve gave reassurance it would continue steps to support the economy, as metals investors fret over scant demand from big metals consumer China.
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*Hanlong needs big partner to win Beijing approval. BEIJING, Feb 28- China's privately-owned Hanlong Group is talking to four state-owned steel mills to find a partner for the $4.7- billion Mbalam iron ore project in Africa, the chief executive of project owner and takeover target, Sundance Resources, said on Thursday.
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LONDON, Feb 28-- Copper lost ground on Thursday after mixed data on the U.S. economy and because metals investors worried about scant demand from top consumer China as well as high inventories. It hit its lowest since Dec. 21 at $7,785 on Tuesday.
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*Rio Tinto's Dampier, Cape Lambert to resume ship loading. SYDNEY, Feb 28- Major iron-ore export ports in northwestern Australia, which account for half the world's seaborne-traded iron ore, have reopened or are expected to restart operations later on Thursday after a powerful cyclone weakened after hitting land.