SYDNEY, April 16- Australian miners are racing ahead with plans to expand iron ore production to capture more of the Chinese market for the steelmaking ingredient, amid strong competition from the world's biggest supplier Vale of Brazil.» Read More
Andrew Forrest, Chairman of Fortescue Metals Group, explains how a combination of high capital expenditure and cost-cutting helped the firm to push through last year's drop in iron ore prices.
NEW YORK/ TORONTO, Nov 26- Teck Resources Ltd, Newmont Mining Corp, private equity firm Blackstone Group LP and a firm led by the former head of Barrick Gold are working together on a bid for Glencore Xstrata's Las Bambas copper mine in Peru, according to several people familiar with the matter.
*Rio Tinto weighing fate of Gove alumina refinery in Australia. *Shfe aluminium sinks to two-month low of 14,070 yuan a tonne. "Aluminium, of all the base metals, is facing some of the bigger headwinds given all the supplies tied up in warehouses, and the new proposed changes in LME rules," said James Glenn, economist at National Australia Bank in Melbourne.
SINGAPORE, Nov 26- London aluminium hung close to its lowest in four months on Tuesday as historical overhang of inventory built up in the aftermath of the 2008 credit crisis continues to blunt prices. Copper prices on Monday hit the highest since November 11 at $7,140 a tonne.
Saikhanbileg Chimed, Chief of the Cabinet Secretariat of Mongolia is positive the conflict between Rio Tinto's Oyu Tolgoi mine and the Mongolian government will soon subside.
HONG KONG/ LONDON, Nov 25- Chinalco, the largest aluminium producer in China, has dropped out of the race for Glencore Xstrata's $5.9 billion Las Bambas copper mine in Peru, leaving Minmetals as the front-runner, sources familiar with the matter said.
*Rusal seeks record Q1 Japan aluminium premiums at $270. LONDON, Nov 25- Copper was little changed, after hitting a near two-week high earlier on Monday, as a strong dollar and worries over rising supplies offset a deal over Tehran's disputed nuclear programme that is expected to boost global growth.
*Rio CEO hopes Guinea assembly to agree deal by early 2014. ABU DHABI, Nov 24- Rio Tinto expects to agree a settlement with Guinea on the southern part of the Simandou iron ore deposit by the end of this year or early in 2014, its chief executive told Reuters on Sunday.
NEW YORK/ LONDON, Nov 22- U.S. bank Goldman Sachs Group Inc has put its uranium trading business up for sale, a source familiar with the matter said on Friday, the latest sign that Wall Street's most storied commodity trader is paring back parts of the business.
Nov 22- Shares of Pretium Resources Inc nearly doubled after the Canadian miner said output from an ore sampling program at its flagship gold exploration project topped its target. Strathcona is best known for its role in exposing problems at miner Bre-X in the late 1990 s, where investors lost billions after a massive gold find in Indonesia was found to be fake.
Greg Smith, Group CEO of Global Commodities, says it's not a bad time to build a position into yellow metal at its current levels.
*Gold- mining shares hit a four-month low. TORONTO, Nov 21- Canada's main stock index advanced on Thursday as a jump in the price of oil pushed up shares of energy companies and positive U.S. economic data drove gains across most of the other major sectors. "Sentiment is quite bullish," said Elvis Picardo, strategist at Global Securities in Vancouver.
*Guinea to hold Abu Dhabi investor meeting Nov. 24-25. Guinea's President Alpha Conde will woo investors at a two-day conference in Abu Dhabi starting on Sunday, hoping to build on a legislative election in September that marked the return to democracy after a 2008 coup.
*China copper importers face shortfall after typhoon-traders. LONDON, Nov 21- Copper rose at the close on Thursday as a softer dollar and a short-term shortage of refined metal offset worries about a fall in Chinese factory activity and U.S. central bank tapering.
Two firms have announced plans to send missions to asteroids within the next three years in order to mine the ore and metals on the space rocks.
*China copper importers face shortfall after typhoon-traders. LONDON, Nov 21- Copper dipped on Thursday after two days of gains as concern about temporary shortages of refined metal were outweighed by a firmer dollar, a fall in Chinese factory activity and worries about earlier-than expected U.S. central bank tapering.
*Indexes still in industry consultation phase. SINGAPORE, Nov 21- Metals consultancy CRU Group plans to launch in 2014 indexes that will for the first time price the fees miners pay smelters to produce copper, cashing in on a trend of commodities pricing moving towards spot markets from long-term contracts.
LONDON, Nov 21- Mining in space is moving from science fiction to commercial reality but metals magnates on this planet need not fear a mountain of extraterrestrial supply- the aim is to fuel human voyages deeper into the galaxy.
*Indonesia wants greater influence on tin prices. JAKARTA, Nov 21- Indonesia's main commodities exchange is planning to build on its physical tin contract by offering tin futures next year that it hopes could help win trade from the London Metal Exchange.
*Oyu Tolgoi is key to Mongolia development plans. BEIJING, Nov 21- Mongolia hopes the $5 billion expansion of the giant Oyu Tolgoi copper and gold mine can start next year as it works to resolve a dispute with global miner Rio Tinto, its partner on the project, a government source said.