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Materials and Metals Metals and Mining

  • Maike founder sees prices between $5,000- 6,000 per tonne. *China infrastructure spending could buoy demand next year. In 2018 it will not be better than 2017, "said Yuneng Wu, vice president of Jiangxi Copper Co, China's largest copper producer.

  • LAUNCESTON, Australia, Nov 16- There are two ways of looking at Rio Tinto's decision to close one of its major iron ore mines over the Christmas period: to take the company's explanation of operational reasons at face value or to see the move as part of a wider strategy. Rio told its employees at the Hope Downs 4 mine in Western Australia that it would close the...

  • SINGAPORE, Nov 16- London copper slid for a second session on Wednesday as the dollar strengthened, easing after last week hitting its highest in over a year. The most-traded copper contract on the Shanghai Futures Exchange slid 1.5 percent to 44,250 yuan a tonne. "There is some consolidation going on as investors are waiting for concrete plans from Trump on...

  • MELBOURNE, Nov 16- Australian private equity firm EMR Capital has raised $860 million for its second fund, as it looks for more investments in copper, gold, potash and coking coal, the firm said on Wednesday. EMR Capital, founded by ex-OZ Minerals boss Owen Hegarty, said the fund mainly attracted North American investors and was oversubscribed, as was the company's...

  • Congo state miner Gecamines, which owns 20 percent of Tenke, has objected to the Freeport sale, saying it was not informed beforehand and that it has a right to make an offer first for Freeport's stake if it is to be sold. Contrary to the Freeport announcement, which came as a surprise to Gecamines, Lundin had "ample communications with them months ago," Lundin CEO Paul...

  • LIMA, Nov 15- Peru's economy grew 4.13 percent in September as a drop in construction weighed on the mining-powered recovery, official data showed on Tuesday. The expansion in September over a year earlier was stronger than the 3.8 percent forecast in a Reuters poll. However, it fell short of the 5.5 percent expansion in August.

  • LONDON, Nov 15- Gold edged higher on Tuesday, snapping a three-session losing streak, on uncertainty over the economic policies of U.S. "Gold will have to wait and see on when Trump moves into the White House and what policies he will cancel," Natixis precious metals analyst Bernard Dahdah said. That's fertile ground for gold, "aid ETF Securities commodities...

  • LAUNCESTON, Australia, Nov 15- China may need a bigger mallet to hammer the nation's commodity investors and take the wind out of what Beijing believes is a speculative bubble in prices for natural resources. The Shanghai Futures Exchange raised fees for its benchmark steel rebar contract on Nov. 8, while warning of wild swings in some of its products.

  • *Pan Pacific Copper to set China premiums near $72/ T- president. Japan's biggest copper smelter Pan Pacific Copper also expects its term premiums to China next year to be near Codelco's offer of $72 a tonne, down 31 percent from this year, its president said. Codelco's senior commercial vice president Rodrigo Toro, speaking on the sidelines of a conference on...

  • LONDON, Nov 15- China has already met its target of cutting 45 million tonnes of steel production capacity this year, according to the country's top economic planning body, the National Development and Reform Commission. It may even eliminate a bit more over the last couple of months of 2016.. Beijing's planners do targets well, particularly when they have...

  • MILAN, Nov 15- European shares steadied on Tuesday as a rebound in utilities and crude prices was offset by sharp falls among mining stocks, while telecoms equipment maker Nokia slumped after a disappointing earnings outlook update. Hopes of huge fiscal stimulus in the U.S. under Donald Trump's administration have fueled a rally in bond yields and rate hike...

  • Nov 15- Canada's Lundin Mining Corp said it would sell its indirect stake in TF Holdings Ltd to an affiliate of Chinese private-equity firm BHR Partners for about $1.14 billion in cash. Bermuda- based TF Holdings owns an 80 percent interest in Tenke Fungurume Mining SA. Lundin owns an indirect 30 percent stake in TF Holdings, resulting in an effective 24 percent...

  • *Investors hope OPEC curbs will come later this month. SINGAPORE, Nov 15- Oil prices rose around 2 percent on Tuesday to move away from multi-month lows struck the day before, pushed higher by expectations of falling shale output and renewed optimism that OPEC will deliver on touted production cuts. "News of Qatar, Algeria and Venezuela leading the push for the OPEC...

  • *Could stoke worries about strength of China demand. KOBE, Japan Nov 15- Global No.1 copper miner Codelco has cut its 2017 term premiums to China by more than a quarter, an executive at the Chilean company said on Tuesday, the lowest level for sales into the world's top consumer of the metal since 2009.. Senior commercial vice president Rodrigo Toro said on the...

  • *Could stoke worries about strength of China demand. KOBE, Japan Nov 15- Global No.1 copper miner Codelco has cut its 2017 term premiums to China by more than a quarter, an executive at the Chilean company said on Tuesday, the lowest level for sales into the world's top consumer of the metal since 2009.. Senior commercial vice president Rodrigo Toro said on the...

  • *Investors hope OPEC curbs will come later this month. SINGAPORE, Nov 15- Oil prices rose around 2 percent on Tuesday to move away from multi-month lows struck the day before, pushed higher by expectations of falling shale output and renewed optimism that OPEC will deliver on touted production cuts. "Headlines around increasing OPEC production remained...

  • *Shanghai zinc up over 6 pct. SYDNEY, Nov 15- Zinc futures rose sharply in Shanghai on Tuesday on expectations of a pick-up in Chinese demand for steel alloys, with London contracts also climbing. The most-traded zinc contract on the Shanghai Futures Exchange was up 6 percent at 22,100 yuan a tonne by 0213 GMT.

  • *Could stoke worries about strength of China demand. KOBE, Japan Nov 15- Global No.1 copper miner Codelco has cut its 2017 term premiums to China by more than a quarter, an executive at the Chilean company said on Tuesday, the lowest level for sales into the world's top consumer of the metal since 2009.. Senior commercial vice president Rodrigo Toroat said on the...

  • SINGAPORE, Nov 15- U.S. oil prices rose on Tuesday to move away from a nearly two-month low struck the day before, pushed higher by expectations of falling shale output and renewed optimism that OPEC will deliver on touted production cuts. "Headlines around increasing OPEC production remained prevalent, although the focus switched to final diplomatic efforts...

  • SYDNEY, Nov 15- Zinc rose sharply at the start of trade on the Shanghai futures Exchange, following the London contract, which also gained on expectations of a pick up in demand in China for steel alloys. *Rio Tinto debates Guinea payments at London board meeting. *A joint venture between the UAE and Singapore plans to invest $120 million in Abu Dhabi's industrial...