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Metals and Mining

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  • *China's Oct copper imports down on month but up on year. LONDON, Nov 8- Copper was steady on Friday as solid imports of the metal into top consumer China offset concerns about fragile U.S. and European economic growth.

  • *Coffee jumps after sliding to 7- year low. NEW YORK, Nov 7- Oil and precious metals fell on Thursday, with Brent crude sliding to a four-month low while gold sank to its lowest since mid-October as a strong dollar pressured prices.

  • *Coffee jumps after sliding to 7- year low. NEW YORK, Nov 7- Oil and precious metals fell on Thursday, with Brent crude sliding to a four-month low while gold sank to its lowest since mid-October as a strong dollar pressured prices.

  • Nov 7 (Reuters)- James River Coal Co idled four more mines in Central Appalachia and temporarily laid off about 200 employees as the company looks to shore up its precarious cash position amid weak coal prices. "The balance sheet continues to be the critical issue to watch for James River Coal," Simmons& Co analyst Bill Herbert said in a note.

  • *Shale oil will contribute to lower demand for OPEC crude. LONDON/ VIENNA, Nov 7- OPEC could lose almost 8 percent of its oil market share in the next five years as the shale energy boom and other competing sources boost rival supply, offering the exporter group little benefit from rising world demand.

  • RIO DE JANEIRO, Nov 7- Brazilian mining company Vale is working to sell more assets outside its core business to reduce costs and control debt, Chief Executive Officer Murilo Ferreira said on Thursday. Net income for the third quarter more than doubled to $3.50 billion from $1.64 billion a year earlier.

  • LONDON, Nov 7- Copper rose on Thursday following better-than-expected U.S. data and a surprise European Central Bank rate cut, while traders awaited a U.S. jobs report and a leadership meeting in China for more clues on the demand outlook.

  • OPEC says will lose oil market share to shale, rivals Thursday, 7 Nov 2013 | 8:30 AM ET

    *Shale oil will contribute to lower demand for OPEC crude. LONDON, Nov 7- OPEC could lose almost 8 percent of its oil market share in the next five years as the shale energy boom and other competing sources boost rival supply, offering the exporter group little benefit from rising world demand.

  • UPDATE 1-James River Coal idles four more mines Thursday, 7 Nov 2013 | 7:39 AM ET

    Nov 7- James River Coal Co said it idled four mines in eastern Kentucky in Central Appalachia and temporarily laid off about 200 employees as coal prices fall further. James River Coal shares were down about 0.5 percent in trading before the bell, after the coal miner reported a slide in shipments and a bigger loss for the third quarter.

  • LONDON, Nov 7- Copper steadied on Thursday off four-week lows touched in the previous session, underpinned by a weaker dollar as traders awaited a key U.S. labour report and a major leadership meeting in China for clues on economic policy and metals demand.

  • *Q3 core profit $1.71 billion, beating forecasts. *Repeats sees 2013 core profit of more than $6.5 bln. BRUSSELS, Nov 7- ArcelorMittal, the world's largest steelmaker, said on Thursday its two-year slump was over and prospects for 2014 were looking up, after higher U.S. steel shipments and mining output boosted third-quarter profits.

  • NEW DELHI, Nov 7- India's top iron ore exporting state of Goa hopes the Supreme Court will soon lift a year-long ban on mining but aims to rein in production to ease pressure on roads and infrastructure, the state's regulator of mining licenses said on Thursday.

  • *Q3 core profit $1.71 bln vs Reuters poll consensus $1.56 bln. *Repeats sees 2013 core profit of more than $6.5 bln. BRUSSELS, Nov 7- ArcelorMittal, the world's largest steelmaker, reported higher profit than expected in the third quarter, boosted by increasing iron ore shipments and cost savings, and declared it was through the bottom of the cycle.

  • RIO DE JANEIRO, Nov 6- Brazil's Vale SA, the world's second-largest mining company, reported on Wednesday that its third-quarter net income more than doubled from a year earlier, beating analysts' expectations as iron ore prices and sales volumes rose.

  • The Austrian company missed analysts' forecasts for operating and core earnings in the quarter to end-September but said it expected a improvement in the second half thanks to growing momentum in Europe, China and North America.

  • What to expect from metals     Wednesday, 6 Nov 2013 | 4:30 AM ET

    Juerg Kiener, CIO at Swiss Asia Capital, talks about the renewed growth in the metals markets as China starts to take "more and more out of the global pie".

  • LONDON, Nov 6- Egypt- focused gold miner Centamin said core profit dropped by more than a third in the third quarter, hit by a sharp drop in bullion prices, but said it was well-placed to exceed a targeted increase in full-year output. The price at which Centamin sold bullion in the quarter shrank by more than a fifth compared with a year earlier.

  • SINGAPORE, Nov 6- London copper edged up in low volume on Wednesday, with traders reluctant to take positions ahead of a labour report from the United States and a major policy meeting in China.

  • NEW YORK, Nov 5- Oil and precious metals fell on Thursday, with gold falling for the seventh straight session, as upbeat U.S. economic data challenged assumptions of a prolonged Federal Reserve stimulus.

  • Nov 5- Mosaic Co reported sharply lower third-quarter earnings on Tuesday as prices of its potash and phosphate fell and buyers took a cautious stance, and the U.S. fertilizer company said prices may remain weak into 2014..

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