European stocks closed higher on Tuesday after the first public remarks by new U.S. Federal Reserve Chair Janet Yellen.» Read More
SINGAPORE, Nov 27- London copper was little changed on Wednesday as markets lost direction ahead of Thanksgiving holidays in the United States, but prices were on track for their biggest monthly fall since June on expectations of improving supply.
NEW YORK/ TORONTO, Nov 26- Teck Resources Ltd, Newmont Mining Corp, private equity firm Blackstone Group LP and a firm led by the former head of Barrick Gold are working together on a bid for Glencore Xstrata's Las Bambas copper mine in Peru, according to several people familiar with the matter.
Nov 26- Ecuador's Socialist President Rafael Correa has often railed against allowing private trading firms to control the country's oil shipments, a top source of export revenue.
NEW YORK, Nov 26- China's aggressive quest for foreign oil has reached a new milestone, according to records reviewed by Reuters: near monopoly control of crude exports from an OPEC nation, Ecuador.
Expectations that trading houses might warm up to IPOs have been on the rise since the successful share float by Glencore. Trafigura had said an initial public offering was one of the options for Puma, and a number of analysts said they saw Puma as a potential candidate, not least because of some similarities between the parent and Glencore.
HONG KONG/ LONDON, Nov 25- Chinalco, the largest aluminium producer in China, has dropped out of the race for Glencore Xstrata's $5.9 billion Las Bambas copper mine in Peru, leaving Minmetals as the front-runner, sources familiar with the matter said.
Swiss voters rejected a proposal on Sunday to cap the salaries of top executives at 12 times that of a company's lowest wage.
ZURICH, Nov 24- Swiss voters rejected a proposal on Sunday to cap the salaries of top executives at 12 times that of a company's lowest wage, heeding warnings from industry leaders that the measure could harm the country's economy.
*Dominated by big groups such as Goldman Sachs, Glencore. LONDON/ NEW YORK, Nov 21- Sweeping warehouse rule changes proposed by the London Metal Exchange will spur a resurgence of independent storage firms after several years of dominance by big groups such as Goldman Sachs and Glencore Xstrata.
NEW DELHI, Nov 21- Indian Oil Corp became India's first state-refiner to buy Canadian oil, further evidence that trade routes have been redrawn by the U.S. shale oil boom. IOC joined private Indian refiners Reliance Industries and Essar Oil in buying Canadian oil.
*Almost 30 pct of seaborne coal sold at a loss- Glencore. *Glencore to raise S.African coal production by 55 mln tonnes/year. LONDON, Nov 20- Thermal coal prices will rise in the medium term as current prices force many producers to export at a loss and because booming electricity demand in Asia will drive up the market, said mining major Glencore Xstrata.
ZURICH, Nov 19- Switzerland will vote on Sunday on whether to limit the salaries of top executives so they don't earn more in a month than the lowest paid workers earn in a year, a move that could mean big pay cuts for business leaders earning millions.
By the end of the third quarter, Colombia's coal production was 11.2 percent below output in the first nine months of 2012, the National Mining Agency said last week, a narrower gap than the 13.2 percent lower production in the first half.
*Copper smelter shutdown and China output underpin prices. *Jiangxi Copper and Freeport agree on higher treatment charges. LONDON, Nov 18- Copper dipped near three-month lows on Monday as expectations of a growing surplus of the metal and a lack of immediate measures to boost commodities demand in China's reform package offset a softer dollar.
*Copper smelter shutdown, China output underpin prices. *Jiangxi Copper, Freeport agree on higher treatment charges. LONDON/ SINGAPORE, Nov 18- Copper was steady near three-month lows on Monday as expectations of a growing surplus of metal and disappointment over a lack of immediate measures to boost commodities in China's reform package offset a softer dollar.
At the heart of the issue are storage companies owned by big commodities merchants and Wall Street banks, which aluminum users including Coca-Cola Co and Miller Coors LLC allege have inflated prices and distorted supplies of key metals.
WASHINGTON, Nov 15- A top U.S. Justice Department official said on Friday the agency was "looking at" allegations that warehousing firms have made some metals more expensive by restricting their flow out of storage facilities, sometimes for months.
LONDON/ NEW YORK, Nov 15- In the mid-1990s the London Metal Exchange was embroiled in a criminal investigation after the discovery that a trader- nicknamed Mr 5 Percent for the share of the world's copper he reputedly controlled- had spent years manipulating its systems to hoard copper and boost the price.
LONDON, Nov 13- Copper fell to its lowest in two months on Wednesday on a looming surplus and as the dollar rose against the euro after a Federal Reserve official raised the prospect of a retreat from monetary stimulus next month.
LONDON, Nov 11- South African platinum miner Lonmin posted a forecast-beating annual pretax profit of $140 million on Monday, recovering from a heavy loss last year, as both sales and an effort to contain cost increases exceeded its targets.