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Metals and Mining

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  • *Zambia to choose new president Tuesday after Sata's death. NDOLA, Zambia, Jan 19- Zambia's copper industry, the spluttering motor of one of Africa's fastest-growing economies, has been at the heart of campaigning for Tuesday's presidential election and poses a big headache for the country's next leader. Zambia averaged 6-7 percent growth over the last decade...

  • MELBOURNE, Jan 19- BHP Billiton Ltd may be forced to slash its planned $4 billion spending this year on U.S. shale wells and book writedowns on its shale assets as it battles plunging prices for its biggest earners iron ore, oil and copper. Other candidates for cuts in its $14.2 billion capital and exploration spending plan could be its longer-dated projects like...

  • LAUNCESTON, Australia, Jan 19- The new year has started positively for Asian coal, with prices rallying from a 5-1/ 2 year low, Chinese imports jumping to the highest in 11 months and renewed merger and acquisition interest. The spot price of thermal coal at Australia's Newcastle port, an Asian benchmark, rose to $62.91 a tonne in the week ended Jan. 16, up 3 percent from...

  • LONDON, Jan 16- Dr Copper is back in the headlines. This week's dramatic collapse in global copper prices has generated all sorts of dire warnings about what Dr Copper is telling us about the global economy. After all, he's called Dr Copper for a reason, right?

  • LONDON, Jan 16- Oil prices may have further to fall and a rebound could take some time, despite increasing signs that the downtrend will end, possibly in the second half of this year as North American supply growth slows, the West's energy watchdog said on Friday. Crude oil prices have fallen almost 60 percent over the last six months with both of the world's crude oil...

  • *China bonded premiums climb $5 to $85- Shmet. LONDON, Jan 15- Copper rose on Thursday on a mix of bargain-hunting, short covering and hedging by consumers, a day after its biggest slide in more than three years, but more losses were expected. Some traders saw sellers emerging above $5,650, with buyers lurking around $5,500- 5,450.

  • *Beiersdorf, H&M boosted by strong sales reports. LONDON, Jan 15- European shares rebounded on Thursday, boosted by a bounce in mining and oil companies, as well as by strong sales at retailer H&M and Nivea cream-maker Beiersdorf. Copper climbed after hitting its lowest level since January 2009.

  • China's Qingdao shakeout to limit impact of copper rout Thursday, 15 Jan 2015 | 3:17 AM ET

    *Forced copper sales seen unlikely after Qingdao shakeout. MELBOURNE/ SHANGHAI Jan 15- Banks are tightening up lending to Chinese metals traders after a copper price plunge to five-year lows, but don't expect forced sales of the metal after smaller players were weeded out during a major financing scandal last year, bankers and traders said.

  • SYDNEY, Jan 15- MMG Ltd said on Thursday the sell-off in copper markets had done nothing to discourage completion of one of the world's biggest copper mines, costing $7 billion. The massive Las Bambas mine in Peru acquired by MMG and minority partners in August is capable of yielding more than 2 million tonnes of copper in its first five years and will begin...

  • Weak fundamental backdrop for copper in China: Pro Thursday, 15 Jan 2015 | 2:15 AM ET
    Weak fundamental backdrop for copper in China: Pro

    Colin Hamilton, global head of commodities research at Macquarie, says metal markets are "desperate" for the Chinese New Year - a time when copper buying increases.

  • Copper: Mining meltdown Wednesday, 14 Jan 2015 | 1:20 PM ET
    Copper: Mining meltdown

    With copper crashing, CNBC's Morgan Brennan takes a look at what mining stocks are being hit the hardest.

  • *World Bank cuts growth forecasts, deflation fears grow. NEW YORK, Jan 14- Securities around the world fell on Wednesday after the World Bank cut its economic growth forecasts for 2015 and 2016, with stocks lower across regions and copper suffering its biggest one-day drop in more than three years. Adding to the cautious tone in the United States, JPMorgan Chase& Co...

  • LONDON, Jan 14- Cuts in copper mine output are raising doubts about the extent of a widely expected global surplus that has driven down prices, and the reduced production could support a market rebound. "The market is not going to be as over-supplied as we had originally thought after several announcements on cutbacks," said Vivienne Lloyd, base metals analyst at...

  • Miners crash, Glencore at low as copper tumbles Wednesday, 14 Jan 2015 | 11:48 AM ET

    Mining stocks sold off sharply on Wednesday, with Glencore falling to an all-time nadir, after copper plunged to a five-and-a half-year low.

  • LONDON, Jan 14- Copper slid to a 5-1/ 2 year low on Wednesday after a downward revision to global growth by the World Bank and big falls in oil prices amplified recent fears about the outlook for the economy and demand, triggering a wave of stop-loss selling. LME copper prices fell to their lowest since July 2009 at $5,353.25 a tonne in intraday trade, before paring...

  • Copper price falling is 'no surprise' Wednesday, 14 Jan 2015 | 11:30 AM ET
    Copper price falling is 'no surprise'

    Copper prices have slumped to 2009 levels. Nic Brown, head of commodities research at Natixis, discusses what's leading the selloff, saying he's been pretty "bearish on copper for a while."

  • Big global copper surplus? Mine cutbacks force rethink Wednesday, 14 Jan 2015 | 11:27 AM ET

    LONDON, Jan 14- Cuts in copper mine output are raising doubts about the extent of a widely expected global surplus that has driven down prices, and the reduced production could support a market rebound. "The market is not going to be as over-supplied as we had originally thought after several announcements on cutbacks," said Vivienne Lloyd, base metals analyst at...

  • Home@ LONDON, Jan 14- Copper finds itself in a perfect bear storm. On the London Metal Exchange benchmark three-month metal imploded this morning, touching a low point of $5,353.25 per tonne in early trading. That's a level not seen since 2009, the year of global financial crisis.

  • Europe shares sink on mounting worries over global growth Wednesday, 14 Jan 2015 | 10:33 AM ET

    PARIS, Jan 14- European shares sank on Wednesday, knocked down by worries over the pace of global growth fueled by grim U.S. retail sales data and as the World Bank cut its forecast for growth. Shares in mining giants tumbled, with Glencore down 10.5 percent and hitting a record low, and Anglo American falling 9.6 percent, while copper prices tumbled 6 percent as...

  • *Gold sector holds best opportunities in mining- QKR. Gold shed around a quarter of its value in the last two years after a more than decade-long bull run. "We have never been busier," said David Harquail, chief executive of royalty and streaming company Franco-Nevada.