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Metals and Mining

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  • *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.

  • JAKARTA, July 15- Indonesia could terminate Newmont Mining Corp's copper mine contract if the U.S.-based firm does not withdraw a legal challenge to the country's export taxes, a government official said on Tuesday. The firm, along with U.S. miner Freeport-McMoRan Copper& Gold, has halted copper exports for the last six months.

  • India may appeal parts of WTO steel ruling Tuesday, 15 Jul 2014 | 11:56 AM ET

    NEW DELHI, July 15- India said on Tuesday it may appeal against parts of a World Trade Organization ruling against countervailing U.S. duties on some of its steel exports, despite being partly vindicated in a trade dispute.

  • But Washington sees bright side of findings. GENEVA, July 14- World Trade Organization judges said on Monday the United States broke its rules in imposing hefty duties on Chinese steel products, solar panels and a range of other goods that Washington argues enjoyed government subsidies.

  • WASHINGTON, July 14- The United States is studying a World Trade Organization ruling about anti-subsidy duties imposed on some Indian steel products and will consider all available options, the office of the U.S.

  • GENEVA, July 14- The World Trade Organization on Monday backed some key claims by India against countervailing duties imposed by the United States on certain steel products, but rejected others.

  • GENEVA, July 14- World Trade Organization judges found on Monday that the United States had violated global trade rules by imposing punitive import duties on a range of Chinese steel products, solar panels and other goods that Washington said enjoyed government subsidies.

  • GENEVA, July 14- The World Trade Organization on Monday backed some key claims by India against U.S. countervailing duties on certain steel products, but rejected others. The WTO panel, ruling on the April 2012 case, said that the United States had acted wrongly in claiming some Indian subsidy programs had given Tata unfair advantage.

  • London, July 14- Copper dipped and zinc retreated from its highest levels in almost three years on Monday as investors worried that prices may have overshot after recent gains. Copper had gained 9 percent from mid-June to July 8, when it touched a 4-1/ 2 month high. Benchmark copper on the London Metal Exchange shed 0.4 percent to $7,127.75 a tonne by 1418 GMT.

  • Whiting, Kodiak create Bakken shale powerhouse Monday, 14 Jul 2014 | 8:22 AM ET
    A construction worker specializing in pipe-laying sandblasts a section of pipeline in North Dakota.

    Whiting Petroleum said it would acquire Kodiak Oil& Gas for $3.8 billion, becoming the largest producer in North Dakota's Bakken shale play.

  • London, July 14- Zinc rose to its highest level in almost three years on Monday amid long-standing worries over falling mine supply going forward, while investors remained cautious about copper following recent gains. Plus if we get to $2,500 a tonne, then the Chinese will start cranking up output, " Societe Generale analyst Robin Bhar said.

  • London, July 14- Zinc rose to its highest level in almost three years on Monday amid long-standing worries over falling mine supply going forward, while investors remained cautious about copper following recent gains.