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Metals and Mining

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  • JOHANNESBURG, Oct 14- South Africa's mines minister Ngoako Ramatlhodi said he was considering declaring certain minerals such as coal and iron ore as "strategic" for the country. If that bill is signed into law, then it will give the minister the ability to declare certain minerals strategic for purposes of industrialisation in South Africa, "he said.

  • INTERNATIONAL TRADE COMMISSION SAYS STEEL INDUSTRY IS AT RISK FROM STEEL REBAR IMPORTS FROM MEXICO, TURKEY, CLEARING WAY FOR DUTIES.

  • LONDON, Oct 14- Copper prices rose to a two-week high on Tuesday, buoyed by confidence about the outlook for demand from top consumer China following its plans to step-up infrastructure projects. The outlook for copper, which is mainly used in the power and construction industries, brightened after a senior official at China's economic planner said the...

  • METALS-LME copper hits 2-wk peak on China outlook Tuesday, 14 Oct 2014 | 4:01 AM ET

    SYDNEY, Oct 14- London copper climbed to fresh two-week peaks on Tuesday, boosted by technical buying after China reaffirmed plans to step up infrastructure projects to support growth, following robust September trade data. China's investment growth should pick up in the coming months as authorities hasten construction of water conservation projects and...

  • MANILA, Oct 14- Seasonal rains are set to disrupt nickel mining in the Philippines for the next four months or so, crimping exports to top buyer China and stoking a shortfall in the global supply of ore. But, with a ban on raw metal shipments by former top exporter Indonesia, the seasonal decline in the Philippines' output could force China's vast stainless steel...

  • SYDNEY, Oct 14- London copper slipped on Tuesday from two week peaks hit the session before after comments by the Federal Reserve fuelled worries over global growth, disturbing a fragile calm after robust Chinese economic data. *Three-month copper on the London Metal Exchange had slipped to $6,696 a tonne by 0034 GMT from the previous session when it tipped its...

  • KINSHASA, Oct 13- Democratic Republic of Congo's economy is set to grow by 10.4 percent next year, the government said on Monday, driven by an expansion of agriculture, mining and infrastructure spending in Africa's largest copper producer. The forecast, contained in the government's 2015 budget, was higher than the International Monetary Fund's 8.5 percent...

  • *China trade data brighter than expected; alleviates worries. China copper imports up 14.7 pct m/m to 390,000 T in Sept. LONDON, Oct 13- Copper and other base metals rose on Monday after the dollar fell and better-than-expected Chinese trade data eased fears of a slowdown in demand in the top commodities consumer.

  • SHANGHAI, Oct 13- China's shares eased on Monday in line with weakness in global markets as concerns mount over the health of major economies, but strength in the coal sector contained index declines. All 16 banking shares on the mainland fell, with China Citic Bank Corp dropping 1.1 percent and China Minsheng Banking Corp down 1 percent. Coal shares bolstered the...

  • China sets coal resource tax between 2-10 percent Saturday, 11 Oct 2014 | 10:29 AM ET

    BEIJING, Oct 11- China said on Saturday that it will institute a resource tax on coal of between 2 percent and 10 percent beginning on Dec. 1, the first official numbers to be issued for the long-anticipated plan. The State Council, China's cabinet, said in September that the country would impose a new resource tax on coal and cancel a series of existing charges in a...

  • Niger cabinet approves new Areva uranium deal Friday, 10 Oct 2014 | 7:11 PM ET

    NIAMEY, Oct 10- Niger's cabinet of ministers on Friday approved a renewal of French nuclear group Areva's uranium production deal in the West African nation, the government said on Friday, completing two years of often fraught negotiations. The two parties announced the signature of a new 10- year agreement for Areva's Somair and Cominak mines in May, but...

  • *Australia's coal miners defy supply glut. Glencore Plc, one of Australia's biggest miners, estimates up to a third of Australia's coal sector is running at a loss, yet collieries are flooding countries such as China and Japan with million of tonnes of coking coal used to make steel and thermal coal to generate power. Many companies were facing a balancing act on...

  • SYDNEY, Oct 10- The former head of China's Hanlong Mining Investment Pty Ltd is being held in custody in Australia on Friday after being extradited from Hong Kong to face more than 100 insider trading charges linked to company takeovers. Hui Xiao, also known as Steven Xiao, is facing 104 charges of trading on inside information linked to Hanlong's 2011 takeover...

  • MELBOURNE, Oct 10- Australia must hold urgent talks with China to exempt coal producers from new tariffs in a free trade agreement due to be completed this year, an industry body said, following Beijing's move to reintroduce coal tariffs after nearly a decade. The tariffs would hit Australian producers hardest as its main coal export rival, Indonesia, is exempt...

  • MELBOURNE, Oct 10- Australia must hold urgent talks with China to exempt coal producers from new tariffs in a free trade agreement due to be completed this year, an industry body said, following Beijing's move to reintroduce coal tariffs after nearly a decade. China took nearly a quarter of Australia's metallurgical coal exports in the year to June 2014, buying A...

  • MELBOURNE, Oct 10- The former head of China's Hanlong Mining Investment Pty Ltd was extradited to Australia from Hong Kong and arrived on Friday to face insider trading charges, Australia's securities watchdog said. Hui Xiao, also known as Steven Xiao, is facing allegations of trading on inside information linked to Hanlong's 2011 takeover bids for...

  • The decision by Beijing to levy a duty of 6 percent on thermal coal and 3 percent on coking coal imports from Oct. 15 certainly is yet another blow to Australia's already beleaguered coal miners. They will suffer disproportionately as the tariffs won't affect shipments from rival Indonesia, given it enjoys a free-trade agreement with China through being part...

  • NEW YORK, Oct 9- Alcoa Inc and PepsiCo Inc were among Thursday's biggest premarket movers, with both rallying on strong results. Aluminum maker Alcoa jumped 1.6 percent to $16.32, a day after its third-quarter earnings beat expectations on higher aluminum prices and lower costs. The results contributed to a positive tone on Wall Street as Alcoa was one of the...

  • Oct 9- A year of increasingly vocal support for easing a decades-old ban on U.S. crude exports has failed to convince American voters that doing so would be a good idea, according to a new Reuters-IPSOS poll that highlights the political perils of opening the door to shale oil sales abroad. Only a handful of politicians, most prominently Republican Senator Lisa...

  • SYDNEY, Oct 9- Global miner Rio Tinto dismissed arch-rival BHP Billiton's pledge to upstage it as the world's lowest cost iron ore miner. BHP on Monday unveiled plans to cut production costs to less than $20 a tonne from $27.50 for the 2014 financial year in a bid to become the lowest cost miner. From Europe to Australia, smaller, less efficient miners are in many case...