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Metals and Mining

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  • Feb 26- Australian billionaire Gina Rinehart's Roy Hill iron ore project is close to finalising a $7.8 billion financing deal, sources said, a vital step towards an end-2015 start for the giant mine in Western Australia's iron-rich Pilbara district.

  • Mexico grants Fresnillo explosives permit for gold mine Wednesday, 26 Feb 2014 | 3:33 AM ET

    LONDON, Feb 26- Mexico has granted precious metals miner Fresnillo a new explosives permit, allowing it to resume operations at one of its gold mines, the company said on Wednesday.

  • Feb 26- Australian billionaire Gina Rinehart's Roy Hill iron ore project is close to finalising a $7.8 billion financing deal, sources said, a vital step towards an end-2015 start for the giant mine in Western Australia's iron-rich Pilbara district.

  • *Initially valued at $500- 600 mln, but the value has fallen. LONDON, Feb 25- Brazilian mining firm B&A Mineração has pulled out of talks to buy BHP Billiton's stake in the Mount Nimba iron ore deposit in Guinea, bank and industry sources said, in the latest sign that projects in riskier countries have become a tough sell.

  • SYDNEY, Feb 25- London copper on Tuesday eased back towards its lowest level in more than two weeks after economic optimism sparked by some major mergers in the United States started to fizzle, and the focus returned to growth concerns in top user China.

  • Potash CEO on earnings & India's market     Monday, 24 Feb 2014 | 11:20 AM ET

    Discussing his company's earnings and emerging market growth, with William Doyle, Potash Corporation president & CEO.

  • *China property fears send ShFE copper to over-3-month low. LONDON, Feb 24- Copper fell on Monday to its lowest in more than two weeks as data showed growth in new housing prices in China slowed in January and worries about credit restrictions in the country's huge property sector hurt the demand outlook for metals.

  • Feb 24- Canadian exploration company Augusta Resource Corp has asked its shareholders to reject base metal miner HudBay Minerals Inc's hostile offer to buy all the shares in Augusta it does not own. Augusta's Rosemont copper project in Arizona is considered to be one of the most promising in the United States.

  • *The move is a potential victory for Freeport, Newmont. *Minister: Freeport to resume copper exports in near future. A senior government official said Freeport would resume exports of copper concentrate in the "near future".

  • *Indonesia will consider easing export tax after Freeport builds smelter-minister. JAKARTA, Feb 24- U.S. miner Freeport-McMoRan Copper& Gold is expected to resume copper concentrate exports from Indonesia in the "near future", a minister said, after halting shipments due to a dispute over new mining rules imposed last month.

  • Peter Toogood, investment director at City Financial Investment Company, says it is too late to buy bank stocks, but equities in mining companies could be a good investment.

  • PRECIOUS-Gold edges lower after 3rd week of gains Sunday, 23 Feb 2014 | 10:12 PM ET

    *Gold still targets $1,307.46- technicals. SINGAPORE, Feb 24- Gold inched lower on Monday after posting a third straight week of gains, but the precious metal may get support from worries over the pace of the U.S. economic recovery and China's growth.

  • *Copper producers Freeport and Newmont in dispute with govt. The tax ratchets up sharply before an outright export ban from 2017 and Freeport and Newmont Mining Corp, which produce 97 percent of Indonesia's copper, have halted all exports and are locked in talks with the government because they say the tax breaches their contracts.

  • According to the charges, Hixon, who worked in Evercore's mining and metals group, allegedly arranged trades in shares of Evercore as well as two other companies: Westway Group, which merged last year with EQT Infrastructure II, and Titanium Metals Corp, which was purchased last year by Precision Castparts Corp.

  • SINGAPORE, Feb 21- Gold edged down on Friday, pressured by a firmer dollar and having risen nearly 1 percent in the previous session, but the precious metal was heading for its third week of gains on a patchy recovery in the global economy. *Spot gold eased $2.41 an ounce to $1,320.10 by 0016 GMT.

  • *80 pct of Swiss gold exports head for Asia. NEW YORK/ LONDON, Feb 20- Gold rose on Thursday due to disappointing U.S. and Chinese manufacturing data, but overall improvement in global economic conditions and continued stimulus tapering by the Federal Reserve could dent safe haven demand, traders said.

  • *China's February flash PMI drops to 7- month low. LONDON, Feb 20- Copper slipped to a one-week low on Thursday after the euro weakened and data showed a contraction in China's manufacturing sector, which raised doubts about the outlook for demand from the metal's top consumer.

  • BEIJING, Feb 20- China unveiled dramatic details of charges against a former mining magnate on Thursday, accusing him of crimes ranging from murder to gun-running and extortion as part of a "mafia-style" gang he led.

  • *Gold to hover above $1,307- technicals. SINGAPORE, Feb 20- Gold edged up in choppy trade on Thursday as the U.S. dollar gave up gains, while demand from the physical sector also underpinned prices. Gold hit a low of $1,308.34 an ounce on a firmer dollar before rising as high as $1,314.70 as the U.S. currency changed course.

  • PRECIOUS-Gold weakens as dollar recovers after Fed minutes Wednesday, 19 Feb 2014 | 11:03 PM ET

    *Gold to hover above $1,307- technicals. SINGAPORE, Feb 20- Gold slipped on Thursday as the dollar firmed after minutes from a U.S. Gold hit an intraday high of $1,314.50 before slipping to $1,309.85 by 0332 GMT, down $1.40.