A crush of big cap earnings and arguably the most important economic reports until September make next week the busiest of the summer for markets.» Read More
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.
*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.
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.
NEW YORK— Shares of some top gold companies are up at 1 p.m.:. Barrick Gold Corp. rose$. 44 or 2.4 percent, to $18.77. Newmont Mining Corp. rose$. 76 or 3.1 percent, to $25.45.
NEW YORK— Shares of some top gold companies are up at 10 a.m.:. Barrick Gold Corp. rose$. 30 or 1.6 percent, to $18.63. Newmont Mining Corp. rose$. 75 or 3.0 percent, to $25.44.
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.
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.
*China aluminium surplus poised to shrink this year- analysts. LONDON, July 7- Copper edged further off 4- month peaks on Monday as investors took profit and stocks rose for a second day running, though lingering supply worries put a strong floor under prices.
SYDNEY, July 7- London copper edged lower on Monday, as traders turned defensive ahead of a slew of corporate earnings reports, but prices broadly held on to last week's 3 percent gains on tighter-than-expected supply. A six-month halt on exports from major producer Indonesia has exacerbated tight conditions.
LONDON, July 3- When Indonesia banned the export of unprocessed minerals in January of this year, the consensus view was that the most significant impact would be on the nickel and aluminum raw material markets in that order.
JAKARTA, July 2- Freeport-McMoRan Copper& Gold Inc is still in talks with Indonesia over a six-month dispute that has halted copper exports, and has no plan yet to follow Newmont Mining Corp in seeking international arbitration. Global copper prices, currently not far off four-month highs, have been underpinned by the disruption to supplies from Indonesia.
SYDNEY, July 2- London copper eased from its highest in nearly four months on Wednesday as summer holidays in the northern hemisphere drained the market of direction, although an upbeat global manufacturing outlook and low exchange stocks underpinned prices.
While stocks have generally moved higher, winning themes have emerged for the second half of the year.
LONDON, June 27- Copper slipped after hitting its highest in 3-1/ 2 months on Friday, spurred by hopes that an improved outlook for the world's No. 2 economy may strengthen demand just as supply side dynamics are tightening.
LONDON, June 27- Copper hit its highest in 3-1/ 2 months and was headed for a second straight weekly gain on Friday spurred by hopes that an improved outlook for the world's No. 2 economy may strengthen demand just as supply side dynamics are tightening.