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Metals and Mining

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  • *Malaysian airliner crash intensifies Ukraine tensions U.S. imposes more sanctions on Russia. NEW YORK/ LONDON, July 17- Gold surged 1.5 percent on Thursday as investors sought shelter in the precious metal on fears of further turmoil after news that a Malaysian passenger jetliner had been downed in Ukraine.

  • BRASILIA, July 17- Brazilian aircraft maker Embraer agreed to sell up to 60 commercial passenger jets to China and mining company Vale received two new credit lines from Beijing, as the presidents of the two countries signed agreements to deepen commercial ties.

  • Cliffs, a Cleveland- based iron ore and metallurgical coal producer, is locked in a proxy battle with Casablanca, which owns 5.2 percent of Cliffs' stock and accuses the company of destroying shareholder value. Casablanca wants to replace Cliffs' chief executive officer with its own nominee and six of the 11 board members, a majority, with its candidates.

  • NEW YORK/ LONDON, July 17- Gold surged 1.3 percent on Thursday as investors sought shelter in the precious metal on fears of further turmoil after news that a Malaysian passenger jetliner had been downed in Ukraine.

  • NEW YORK/ LONDON, July 17- Gold prices climbed more than 1 percent on Thursday on heightened geopolitical tensions and news of more U.S. sanctions against Russia, while palladium rose more than 1 percent on renewed supply worries.

  • JAKARTA, July 17- Newmont Mining risks its Indonesian mining licence being taken over by a state-owned firm if the U.S. miner does not resume copper production, the Southeast Asian nation warned, escalating a six-month dispute over export rules.

  • LONDON, July 17- Copper prices dropped to their lowest level in two weeks on Thursday due to intensifying concerns about the outlook for metal demand from the property sector after a Chinese builder warned of a possible bond default.

  • *Palladium prices hit highest since February 2001. LONDON, July 17- Gold rose on Thursday, extending the previous day's recovery from four-week lows as investors took advantage of lower prices to buy, though expectations that U.S. monetary policy is set to tighten limited gains.

  • *China builder warns it may default on bond. China's economic growth picked up slightly in the second quarter as stimulus measures paid dividends, but analysts said Beijing needs to offer more support to meet its annual growth target as the property market slows. "Yesterday's data was positive for metals demand," said Joel Crane of Morgan Stanley in Melbourne.

  • JAKARTA, July 17- Indonesia stepped up pressure on Newmont Mining over a six-month old dispute that has halted copper exports, warning it could hand the U.S. miner's licence to a state-owned firm if it does not resume shipments.

  • JAKARTA, July 17- Indonesia's government may offer Newmont Mining Corp's copper contract to state-owned Aneka Tambang if the U.S. company does not quickly resume production, a government official said on Thursday.

  • *China builder warns it may default on bond. "Yesterday's data was positive for metals demand," said Joel Crane of Morgan Stanley in Melbourne. The most-traded September copper contract on the Shanghai Futures Exchange slid 1 percent to 50,050 yuan a tonne by 0240 GMT, having slipped to 49,930 yuan earlier- its weakest since July 2.

  • SYDNEY, July 17- Shanghai copper fell to its lowest in a fortnight on Thursday as jitters over a possible bond default in China's construction sector triggered a round of profit taking. *The most-traded September copper contract on the Shanghai Futures Exchange slid 1 percent to 50,050 yuan a tonne in overnight trade.

  • NEW YORK, July 16- U.S. precious metals dealer Anthem Vault Inc said on Wednesday it has launched the first digital currency backed by physical gold, with an aim to increase the use of bullion as an accepted form of electronic money.

  • TORONTO/ VANCOUVER, July 16- Barrick Gold Corp said on Wednesday its chief executive officer will step down in September and not be replaced, concentrating power in the hands of the miner's new executive chairman, John Thornton. The world's biggest gold miner appointed two co-presidents to help run the company after Jamie Sokalsky's departure as CEO.

  • *China Q2 GDP growth slightly higher than forecast at 7.5 pct. LONDON, July 16- Aluminum touched the highest levels in 16 months on Wednesday after data showed stronger economic growth in top metals consumer China amid producer cutbacks and eroding inventories.

  • JAKARTA, July 16- Indonesia's likely next president signaled a conciliatory approach to the country's contract dispute with Newmont Mining Corp a day after the outgoing government threatened to end the U.S. miner's contract over a legal challenge.

  • Rio Tinto iron ore output rises in second quarter Wednesday, 16 Jul 2014 | 1:24 AM ET

    Rio Tinto said it was on track to produce 295 million tons of the steel-making material in 2014, up from 266 million last year.

  • *China Q2 GDP grows 7.5 pct on year. SYDNEY, July 16- A slight pick up in the pace of China's economic growth in the second quarter brightened the outlook for metals demand on Wednesday, helping drive Shanghai zinc and London aluminium near their highest in more than a year.

  • SYDNEY, July 16- Shanghai zinc rallied to a fresh 17- month high in early trade on Wednesday, playing catch up to overseas prices that have rallied on prospects of dwindling mine supply, while other contracts steadied ahead of a rash of China economic data.