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Metals and Mining

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  • *Gold prices in tight range. *Platinum, palladium on track for weekly gains. SINGAPORE, April 4- Gold edged lower on Friday as the market nervously awaited U.S. nonfarm payrolls data, heading for its longest weekly losing streak in over six months as equities firmed and optimism grew about the U.S. economy.

  • Three-month aluminium on the London Metal Exchange closed up 0.3 percent at $1,834, having earlier touched its highest since Nov. 4 at $1,846. Some investors have been upbeat on aluminium after a series of capacity cutbacks by producers, including U.S. producer Alcoa which shut down 147,000 tonnes in Brazil.

  • China benefiting from U.S scrapping     Thursday, 3 Apr 2014 | 2:50 PM ET

    David Choe, host of Vice on HBO, provides perspective into the booming business of scrapping in the U.S.

  • Three-month aluminium on the London Metal Exchange closed up 0.3 percent at $1,834, having earlier touched its highest since Nov. 4 at $1,846. Some investors have been upbeat on aluminium after a series of capacity cutbacks by producers, including U.S. producer Alcoa which shut down 147,000 tonnes in Brazil.

  • *Copper premiums fall $5 to $75- $95. Three month aluminium on the London Metal Exchange dipped 0.1 percent to $1,827.75 a tonne by 1009 GMT after touching a peak of $1,838.50, the highest since Dec. 30.

  • SANTIAGO, April 2- A powerful 7.6- magnitude earthquake struck off northern Chile late on Wednesday but there were no reports of damage and a precautionary tsunami alert along the coast and in neighboring Peru was called off. The area is home to many of the biggest mines in Chile, the world's top copper producer.

  • *China gold at premium to London, first time since early March. NEW YORK, April 2- Gold rose about 1 percent on Wednesday, its largest gain in three weeks, on bargain hunting in the precious metal after two straight days of losses, traders said. Gold futures' most-active contract, June, settled up 0.8 percent, or $10.80, at $1,290.80 an ounce.

  • TORONTO/ VANCOUVER, April 2- Osisko Mining Corp said on Wednesday that Yamana Gold Inc would buy a 50 percent stake in its mining and exploration assets for C $930 million, a deal that potentially thwarts a hostile bid from Goldcorp Inc..

  • TORONTO, April 2- Osisko Mining Corp said on Wednesday that Yamana Gold Inc would buy a 50 percent stake in its mining and exploration assets for C $930 million, a deal that potentially thwarts a hostile bid from rival Goldcorp Inc..

  • *Copper prices rise to over three-week high. SANTIAGO, April 2- Copper operations in Chile, the world's top producer, were unscathed by a major earthquake that struck the mineral-rich north on Tuesday night and prompted the evacuations of some workers.

  • LONDON/ LAUSANNE, Switzerland, April 2- Western banks involved in global commodity trade flows are tightening payment procedures for steel and grain deals with Russia, having already taken similar steps for Ukraine due to its political upheaval. "Until the geopolitical situation is clear, most banks are reducing risk in Russia as well as Ukraine.

  • LONDON/ LAUSANNE, Switzerland, April 2- Western banks involved in global commodity trade flows are tightening payment procedures for steel and grain deals with Russia, having already taken similar steps for Ukraine due to its political upheaval. "Until the geopolitical situation is clear, most banks are reducing risk in Russia as well as Ukraine.

  • TORONTO, April 2- Osisko Mining Corp said on Wednesday that Yamana Gold Inc would buy a 50 percent stake in its mining and exploration assets for C $930 million, in a deal aimed at blocking a hostile bid from rival Goldcorp. Shares of Goldcorp rose 2.6 percent to C $27.78, while Yamana gained 1.4 percent to C $9.84.

  • UPDATE 1-Chile mines unharmed by quake; some ports shut Wednesday, 2 Apr 2014 | 10:51 AM ET

    SANTIAGO, April 2- Copper operations in the world's top producer were broadly unharmed after a major earthquake in mineral-rich northern Chile on Tuesday night spooked miners and prompted some preventive evacuation of workers. Chile supplies a third of the world's copper.

  • How to invest in gold     Wednesday, 2 Apr 2014 | 4:40 AM ET

    Jeff Largey, head of metals and mining research at Macquarie Group, explains why his outlook for gold remains conservative and discusses gold mining stocks.

  • *Most mines in Chile designed to withstand tremors. SANTIAGO, April 2- Mines in world No. 1 copper producer Chile appear to have emerged unscathed from a major quake that struck near the mineral-rich north of the Andean country on Tuesday. Most mines in quake-prone Chile, which supplies around a third of the world's copper, are designed to withstand tremors.

  • *Gold edges up after two days of declines. SINGAPORE, April 2- Gold steadied on Wednesday after two days of losses but the precious metal remained near its lowest in seven weeks as strong U.S. factory data boosted optimism about economic growth, diminishing bullion's safe-haven appeal.

  • *Copper jumps but pares gains as short-covering subsides. SYDNEY, April 2- London copper climbed to its highest in more than three weeks on Wednesday after a powerful earthquake off the coast of top mine supplier Chile triggered a tsunami alert, which raised supply concerns and set off a volley of technical buying.

  • SANTIAGO, April 1- Mines in world No. 1 copper producer Chile appear to have emerged unscathed from a major quake that struck near the mineral-rich north of the Andean country on Tuesday. Chile's Collahuasi copper mine and port have not reported any problems so far following the 8.2- magnitude earthquake, Chief Executive Officer Jorge Gomez told Reuters.

  • SYDNEY, April 2- London copper climbed to its highest in more than three weeks on Wednesday after a powerful earthquake off the coast of top mine supplier Chile triggered a tsunami alert, which raised supply concerns and set off a volley of technical buying.