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  • BHP CEO 'bullish' on China Tuesday, 25 Aug 2015 | 9:19 AM ET
    BHP CEO 'bullish' on China

    Andrew Mackenzie, BHP Billiton CEO, says China is showing "wisdom" in a difficult economy, and defends his company's iron ore plan and mining strategy.

  • LONDON, Aug 25- Copper prices rose on Tuesday after China cut its benchmark interest rates, raising hopes the move will help bolster economic growth and increase demand in the world's largest consumer of industrial metals. China's central bank cut interest rates and banks' reserve requirements to boost liquidity and said the world's second-biggest economy...

  • Aug 25- Chilean copper miner Antofagasta Plc is targeting savings of about $160 million this year and said its capital spending will probably be below forecast, as sliding metal prices hit its first-half earnings. Like its peers, London- listed Antofagasta is battling a slide in commodity prices driven by slowing growth in China, the world's top consumer of...

  • *Palladium down more than 7 pct to lowest since 2010. LONDON, Aug 25- Gold fell on Tuesday as global markets found some respite after the previous day's rout, with European stocks rising more than 3 percent and the dollar rebounding from a seven-month low versus the euro and the yen. Gold had edged lower on Monday, with some traders citing liquidation to cover losses...

  • BILLINGS, Mont.— U.S. and China officials took a major step Tuesday toward an agreement to advance "clean coal" technologies that purport to reduce the fuel's contribution to climate change— and could offer a potential lifeline for an industry that's seen its fortunes fade. The agreement between the U.S. Department of Energy and China's National Energy...

  • MELBOURNE, Aug 25- BHP Billiton reported its worst underlying profit in a decade on Tuesday, gutted by plunging iron ore, copper, coal and oil prices, and said it would cut spending more deeply to shore up dividends. BHP and its peers have been hit after they hiked output of iron ore, copper and coal just as demand growth slowed in China, the top global metals consumer, and...

  • SYDNEY— BHP Billiton, the world's biggest miner, reported an 86 percent drop in annual profit on Tuesday amid plummeting commodity prices, as the company warned that China's slowing economy would lead to further market volatility. BHP saw a net profit of $1.9 billion for the 12 months to June 30, down from $13.8 billion a year ago, the Melbourne, Australia- based...

  • *Palladium tumbles over 7 pct to lowest since 2010. MANILA, Aug 25- Gold fell on Tuesday as Asian shares bounced off three-year lows and the U.S. dollar rebounded from a brutal selloff in the prior session that was fuelled by fears over the fate of the Chinese economy. Palladium was the worst hit among precious metals, slumping more than 7 percent at one stage to its...

  • The miner reiterated its pledge to never cut its dividend, and lowered its target for capital spending for the year to June 2016 to $8.5 billion from $9 billion previously to help meet the promise. BHP spun off the company South32 to shareholders in May with a string of unloved assets as it sought to simplify down to four main commodities- iron ore, copper, coal and...

  • Aug 25- Chilean copper mine Antofagasta said on Tuesday it was targeting savings of about $160 million this year as it posted a 49 percent decline in first-half core profit, hit by a steep fall in prices of the metal. "Throughout this period of lower copper prices Antofagasta has had a rigorous approach to cost control at our operations and we are on track to make...

  • Aug 25- Chilean copper mine Antofagasta said on Tuesday it was targeting savings of about $160 million this year as it posted a 49 percent fall in first-half core profit, hit by a steep fall in prices of the metal. The miner said first-half core profit, or earnings before interest, tax, depreciation and amortisation, was $562 million, down from $1.09 billion a year ago...

  • *Platinum down 4.5 pct, palladium at 3- year low. NEW YORK/ LONDON, Aug 24- Gold turned lower on Monday, as the dollar pared losses, and U.S. shares and other commodity markets staged a comeback while the white precious metals fell on concerns about the Chinese economy. Platinum dropped as much as 4.5 percent, palladium hit a three-year low at $563.72 an ounce and silver...

  • Aug 24- De Beers, the world's largest producer of rough diamonds by value, reduced prices for its diamonds by as much as 9 percent, Bloomberg reported, citing people familiar with the matter. De Beers, a unit of London- listed mining company Anglo American Plc, lowered prices after cuts to production failed to support demand, Bloomberg reported, citing three people...

  • ATHENS, Aug 24- Workers at a Canadian-run gold mine in northern Greece staged a counter-protest on Monday against its threatened closure, a day after scuffles broke out at a demonstration by activists opposed to the project. About 200 workers gathered at two sites in the scenic Halkidiki region, briefly blocking roads in protest at a government decision which...

  • THESSALONIKI, Greece— Greek police have arrested two union leaders after hundreds of miners blocked roads to protest the temporary closure of a controversial gold mine in northern Greece. The men were charged with disrupting transportation Monday and released, while protesters later lifted the roadblocks in the Halkidiki peninsula— a major tourist...

  • LONDON, Aug 24- Gold edged higher on Monday to trade near a seven-week top as the dollar and shares tumbled on concerns about the Chinese economy and uncertainty over the timing of a U.S. rate rise. Platinum dropped 3 percent and palladium hit its lowest in three years at $563.72 an ounce. "The weaker dollar and concerns about China's economy are the factors behind...

  • SHANGHAI, Aug 24- Baoshan Iron& Steel, China's biggest listed steel company, reported a modest increase in first-half profit on Monday, citing easing demand in its domestic market. China's steel sector is grappling with chronic overcapacity, tougher environmental measures and an economic slowdown that is hitting demand for industrial metals.

  • LONDON, Aug 24- Copper prices tumbled to six-year lows on Monday alongside Shanghai equities on growing nervousness about economic activity and demand prospects in top industrial metals consumer China. The metal used in power and constriction was at $4,897 a tonne at 1121 GMT from $5,055 at Friday's close. The perception that the Chinese government can...

  • LONDON, Aug 24- Anglo American is to sell two Chilean copper mines to investment firm Audley Capital for $300 million, the company said on Monday, as it delevers its balance sheet to help combat a global slump in commodity prices. The deal includes conditional future payments which could boost the eventual price tag by $200 million, Anglo American said.

  • Australia's Fortescue is in a dangerous position: Pro Monday, 24 Aug 2015 | 12:38 AM ET
    Australia's Fortescue is in a dangerous position: Pro

    Gaurav Sodhi, senior analyst at Intelligent Investor, says Fortescue Metals risks becoming a marginal producer with iron prices set for further losses.