GEORGETOWN, Guyana— Guyana's environment ministry says the country saw less deforestation in 2013 thanks to a decrease in gold mining activity. Gold mining commonly requires companies to clear forests. Guyana already has lost $20 million of that funding because of increased deforestation in 2012..» Read More
LONDON, April 24- Aluminium has staged an impressive price rally since the start of the month. On the London Metal Exchange three-month metal has powered up to $1,900 per tonne, a level last seen in October 2013.
April 24- Freeport McMoRan Copper& Gold Inc reported a decline in first quarter profit on Thursday, hurt by lower copper prices and a conflict with the government of Indonesia that has halted its copper concentrate exports from the country. The company said it is working to resolve the dispute in Indonesia over a new export tax announced in January.
*Physical copper premiums in China rising sharply. LONDON, April 24- Copper touched its strongest level in three weeks on Thursday and nickel surged to a new 14- month peak as seasonal Chinese demand for metals ramped up and concerns over nickel supplies prompted more speculative buying. "People are looking for slightly firmer demand out of China.
*Copper guidance revised up as ore grades improve. Talks to end mining strike in South Africa continue. Output of iron ore, which makes up almost half of group earnings, totaled 11.3 million tonnes in the first quarter, up 10 percent from the year before, when production at the Sishen mine in South Africa was curbed following a strike in late 2012..
SEOUL, April 24- South Korean steelmaker POSCO on Thursday cut forecast for sales and investment for this year after its first quarter profit missed estimates as China's slowing economy curbed demand for steel. POSCO cut its sales forecast for this year by around 2 percent to 30.3 trillion won from the previous 31 trillion won, it said in an earnings statement.
SEOUL, April 24- South Korean steelmaker POSCO reported an 11 percent drop in quarterly operating profit on Thursday, missing estimates, as China's slowing economy curbed demand for steel.
*China is world's No. 1 user of refined copper. HONG KONG, April 24- China, the world's top consumer of metals, could become a net exporter of refined copper in one to two years, said an executive at Minmetals Non-Ferrous Metals Holding Limited.
April 23- The disagreements around the spin-out of certain assets that had snagged merger talks between Barrick Gold Corp and its rival, Newmont Mining Corp, have been resolved but talks are at a standstill for now, said three sources familiar with the matter on Wednesday.
The ban on exports of unprocessed minerals by Indonesia, the world's biggest nickel ore supplier, was felt sharply last month when its shipments to top buyer China fell to less than a million tonnes from an average of 3.4 million tonnes a month last year.
April 23- Dow Chemical Co, the No. 1 U.S. chemical maker by sales, reported a stronger-than-expected rise in quarterly profit as cost controls helped to boost margins in its divisions that make coatings, plastics and crop-protection products. Dow Chemical cut 5 percent of its workforce and shuttered 20 plants in late 2012..
April 23- Dow Chemical Co, the No. 1 U.S. chemical maker by sales, reported a better-than-expected rise in quarterly profit as cost controls helped to boost margins in businesses that make coatings, plastics and crop-protection products.
SYDNEY, April 23- Australia could spawn a new mega gold producer if Barrick Gold Corp and Newmont Mining Corp spin off their Asia-Pacific assets, heating up competition with the country's underperforming market leader Newcrest Mining Ltd..
LIMA, April 22- Peru's central bank slashed its forecast for this year's economic expansion to 5.5 percent from 6 percent on dimmer expectations for the country's crucial mining sector, the bank's president said. Central Bank President Julio Velarde said mining activity will pick up this year but will not likely be as robust as previously thought.
SINGAPORE, April 23- London copper futures edged lower on Wednesday ahead of reading on China's manufacturing activity, with a further contraction likely to cut the appetite for risky assets, although nickel hit the highest in more than 14 months on tighter supply.
*Gold and forex similarities aid consolidation. LONDON, April 23- The increasing use of technology on financial trading floors is driving a trend for banks to roll precious metals operations into their forex businesses as a separate unit from other commodities activities.
*To restart Pend Oreille zinc mine at a cost of C $45 mln. Teck also said it plans to resume production at its Pend Oreille underground zinc mine, which has been idle since 2009. The company said zinc has the best outlook of the base metals. The capital cost of restarting Pend Oreille is pegged at about $41 million.
April 22- U.S. coal miner Arch Coal Inc said it expects to ship fewer tons of steel-making metallurgical coal this year after posting a bigger-than-expected quarterly loss due to lower prices and weak demand. Arch Coal, like other coal producers, is paring its assets.
April 22- Diversified Canadian miner Teck Resources Ltd said it would cut about 600 jobs, or 5 percent of its global workforce, after a sharp fall in earnings and revenue in the first quarter.
*China nickel ore imports from Indonesia down sharply. SINGAPORE, April 22- Nickel futures hit their highest in more than 14 months on Tuesday as an Indonesian ban on mineral ore exports kept supplies tight, with tensions in Ukraine also posing a risk to flows from key producer Russia.
LAUNCESTON, Australia, April 22- It's hard to find any bullish predictions for iron ore prices, with the consensus being that it will drop to below $100 a tonne. The latest bearish signal for iron ore is the decision by an Indian court to allow the mining of 20 million tonnes per annum in the state of Goa, most of which will end up on the export markets.
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