Metals and Mining


  • June 26- Patrice Merrin, a Canadian mining executive, has withdrawn from the slate of directors nominated by activist investor Casablanca Capital to the board of Cliffs Natural Resources Inc after she was appointed to the board of Glencore Plc, Casablanca said on Thursday.

  • BRASILIA, June 26- A federal court has revoked the environmental license for a massive gold mine planned by Belo Sun Mining Corp on the Xingu River in the Amazon, ruling that the company had failed to assess the impact on local indigenous communities.

  • UPDATE 2-Alcoa to buy aerospace company Firth Rixson Thursday, 26 Jun 2014 | 9:34 AM ET

    June 26- Aluminum group Alcoa Inc expanded its aerospace business and took a step away from the light metal on Thursday, announcing a $2.85 billion deal to buy a company that makes jet engine parts, largely out of nickel-based alloys and titanium.

  • *Glencore had been criticised for lack of female directors. *Patrice Merrin holds number of other industry posts. LONDON, June 26- Commodity trader and miner Glencore Plc, the last London- listed blue-chip company with an all-male board, has appointed Patrice Merrin as its first female board director.

  • *China copper premiums extend recovery to $90- $100. *China copper financing to tighten as end of H1 nears. "Indonesia is not even exporting all that it is producing, so that should make the deficit even bigger," metals strategist Stephen Briggs at BNP Paribas in London said.

  • Glencore appoints first female board director Thursday, 26 Jun 2014 | 5:02 AM ET

    LONDON, June 26- Glencore, the last British blue-chip company with an all male board, has appointed Patrice Merrin as its first female board director. In May, Glencore chairman and former BP boss Tony Hayward said that the company would appoint a female director by the end of the year.

  • BRUSSELS, June 26- The European Commission has launched an investigation into Chinese and Taiwanese stainless steel makers after a complaint from European rivals who say they are exporting at unfairly low prices.

  • *Growing supply may help China gain upper hand in pricing. SHANGHAI, June 26- Brazil's Vale, the world's biggest iron ore miner, is starting to offer discounts on shipments of the steelmaking raw material to top consumer China, joining Australian rivals in cutting prices following a global surge in production.

  • *Platinum up on lingering worries as workers return. NEW YORK/ LONDON, June 25- Gold rose slightly on Wednesday after U.S. growth data came in weaker than expected, hitting the dollar, but bullion's failure to extend gains suggested some investors were taking profits after prices hit a two-month high in the previous session, traders said.

  • *Europe, Asia equities fall on Iraq fears. LONDON, June 25- Copper rebounded to a three-week high on Wednesday as the market brushed aside weak U.S. economic growth data and refocused on falling global inventories.

  • *No data available for total stocks in Zurich free zone. By Silvia Antonioli and Clara Denina. Its vaults alone could hold around 20 percent of the total stocks of platinum in London and Zurich, the world's two main two storage centres for the metal, market players said.

  • *Shanghai Gold Exchange chief says wants to have China gold fix. SINGAPORE, June 25- China and Singapore are vying to provide feasible gold price benchmarks in Asia, as calls grow in the top consuming region for more localized pricing of the precious metal at a time when the global benchmark is under regulatory scrutiny.

  • The five-month strike hit 40 percent of global production of the precious metal and has cost companies Lonmin, Anglo American Platinum and Impala Platinum a combined 24 billion rand in lost revenue. A supervisor at the Marikana operations of London- listed Lonmin told Reuters it could be a week or more before any workers went back underground.

  • SYDNEY, June 25- London copper was treading water near a three-week high on Wednesday, underpinned by dwindling global exchange stocks. *Three-month copper on the London Metal Exchange had eased 0.1 percent to $6,877 a tonne by 0135 GMT, after climbing the day before.

  • *Gold hits highest since April, silver at 3- month peak. NEW YORK/ LONDON, June 24- Gold rose to a two-month peak on Tuesday as equity market losses and soft German business sentiment data helped bullion build on last week's gains, while platinum climbed on worries of more labor unrest despite a wage deal to end a five-month strike.

  • BISMARCK, North Dakota, June 24- Enterprise Products Partners LP proposed on Tuesday to build a 340,000 barrel per day pipeline to move shale oil from the Bakken formation, hoping to succeed where others have failed.

  • JOHANNESBURG, June 24- The world's three biggest platinum firms signed a wage deal with South Africa's AMCU union on Tuesday but said that fallout from a five-month strike made job cuts and restructuring inevitable, setting the scene for more labor turmoil.

  • *Lead hits $2,192/ T, highest since Jan. 23. Three-month lead on the London Metal Exchange was the top performer, rising to a session high of $2,192 a tonne, the strongest since Jan. 23. "Lead too, like its sister metal, zinc, is poised for better times ahead after being weighed down by oversupply in 2011-13," said analyst Andrew Shaw at Credit Suisse.

  • LONDON, June 24- It's been three weeks since the first reports of something amiss at the Chinese port of Qingdao started hitting the headlines.

  • SYDNEY, June 24- BHP Billiton is looking at more job cuts at its flagship Australian iron ore division as a way to reduce costs, as ore prices slump and pressure mounts to rein in spending.