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Metals and Mining

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  • *Copper unable to build on higher finish on Friday. Copper has some of the weakest fundamentals among base metals as a wave of fresh supply works its way into the market. "Copper is looking weak from a supply and demand perspective," said a metals trader in Sydney.

  • SYDNEY, Oct 20- London copper inched down on Monday after climbing in the last session from its lowest in around six months, hit by worries over the end of U.S. stimulus. *The Thomson Reuters/ University of Michigan index of consumer sentiment was surprisingly strong in early October, rising to more than a seven-year high. *In nickel markets, Brazil's Vale SA sees a...

  • Oct 17- Cliffs Natural Resources Inc said it would write down the value of its coal and iron ore assets by $6 billion due to weak prices, putting it in breach of debt covenants and sending its shares down as much as 6.8 percent. We believe this will result in higher interest rate on revolver borrowings going forward, " FBR Capital Markets analysts wrote in a note.

  • *Platinum, palladium recover after sharp losses. NEW YORK/ LONDON, Oct 17- Gold dropped on Friday as U.S. equities rebounded but was still set for a second straight weekly gain as concerns over the global economy have raised speculation that the U.S. "Gold has had a good week because just about everything else has had a bad week," Macquarie analyst Matthew Turner said.

  • LONDON, Oct 17- Five companies have been short-listed to replace the century-old London gold benchmark with a new electronic system, which is expected to be in place within the next few months, the London Bullion Market Association said. Broker Autilla Ltd, the Chicago Mercantile Exchange jointly with Thomson Reuters, U.S. derivatives bourse Intercontinental...

  • SANTIAGO, Oct 17- The shine may soon come off Chile's decade-long copper boom as technical and regulatory problems in getting new mines into production highlight just how hard it will be to keep ratcheting up the supply. Chile is expected to produce a record 5.83 million tonnes of copper this year, rising to 6.23 million next year, state copper commission...

  • *Platinum, palladium recover after sharp losses. LONDON, Oct 17- Gold inched down on Friday as shares rebounded, but was still set for a second straight weekly gain as concerns over the global economy have raised speculation the U.S. "Gold has had a good week because just about everything else has had a bad week.

  • Copper was the weakest metal, bouncing slightly after hitting six-month lows on concern about a surge of mine supply swamping the market. Copper is widely regarded as having some of the weakest fundamentals among base metals as a wave of fresh supply from new and expanded mines works its way onto markets. Highlighting worries about more supply was a 17.5...

  • Oct 17- Miner Cliffs Natural Resources Inc said it expects to take a $6 billion charge to write down the value of some coal and iron ore assets in the third quarter due to weak prices for both commodities. Coal prices have halved over the past three years as a result of rising output from Australia, Indonesia, South Africa, Colombia and the United States and sluggish...

  • *Platinum, palladium recover after sharp losses. LONDON, Oct 17- Gold edged down on Friday as shares rebounded, although it was set for a gain for a second straight week as concerns over the global economy raised speculation the U.S. "There has been a move down in the dollar and equities this week, but in comparison the upside in gold has been relatively modest," ABN Amro...

  • Oct 17- Iron ore miner Cliffs Natural Resources Inc said it expects to take a $6 billion impairment charge on some coal and iron ore assets in the third quarter.

  • *China Q3 GDP figures next week to be closely watched. LONDON, Oct 17- Copper hit fresh six-month lows on Friday on concern about a surge of mine supply swamping the market and lingering jitters over global growth. Copper is widely regarded as having some of the weakest fundamentals among base metals as a wave of fresh supply from new and expanded mines works its way...

  • *China Q3 GDP figures next week to be closely watched. SYDNEY, Oct 17- London copper hit fresh six-month lows on Friday, as jitters over global growth returned to disrupt a fragile calm that had briefly shored up markets on signs of strength in the U.S. economy. Many countries are in recession and it's scary, "said analyst Ed Meir at broker INTL FCSTONE in New York.

  • This is Australia's next growth driver Thursday, 16 Oct 2014 | 6:50 PM ET
    Skyline of Downtown Perth, Australia.

    Australia's once-booming resources sector is fizzling, but HSBC says a new engine may propel the economy: housing and infrastructure.

  • With seizures up, Indian gold smuggling loses its shine Thursday, 16 Oct 2014 | 5:00 PM ET

    MUMBAI, Oct 17- Gold smuggling into India, the world's second-biggest consumer of the precious metal, is becoming more risky for couriers following a surge in seizures and less profitable for the gangs behind the practice. "Gold smuggling was highly profitable.... but now with the drop in premiums and tight security, legal imports are increasing," said Milind...

  • Oct 16- U.S. farmers are cutting back on spreading fertilizer this autumn in response to a drop in crop prices to multi-year lows and a delayed harvest, dealers say, warning of a pullback that will be felt from grain markets to Canadian potash mines. Reductions in fertilizer use of an estimated 10 to 50 percent by volume could hit profits of producers such as Potash...

  • Why Klesch wants Tata European operations   Thursday, 16 Oct 2014 | 11:50 AM ET
    Why Klesch wants Tata European operations

    Gary Klesch, founder and chairman of Klesch Group, explains why Klesch wants to acquire Tata's European loss-making operations, saying there is a "big upside opportunity" to this deal.

  • Oct 16- Oil and gas producer Southwestern Energy Co said it would acquire certain oil and gas assets in Marcellus and Utica shale fields in West Virginia and southwest Pennsylvania from Chesapeake Energy Corp for about $5.37 billion. The acquired assets include 256 operated and producing wells and 179 non-operated wells. Average net daily production from...

  • BRASILIA/ RIO DE JANEIRO, Oct 16- An iron-ore mining company controlled by Brazilian tycoon Eike Batista filed for bankruptcy on Wednesday, the third time in a year that a unit of the former billionaire's EBX industrial group has sought protection from creditors. MMX Sudeste Mineracao SA, the company that made the petition, holds nearly all the significant...

  • *Shanghai zinc drops 3 pct as short selling heats up. SYDNEY, Oct 16- London copper held its ground on Thursday after logging its biggest daily fall in six months the session before, with mounting concerns over global growth stoking selling across other metals. "Talk of stimulus programmes suggests that there is a realisation that without these measures, we could...