Base & Precious Metals News

Jun 27 - Rio picks China-backed Yancoal over Glencore for coal sale 

Rio Tinto on Monday confirmed Yancoal Australia as the preferred buyer for its Australian Coal & Allied unit after the China-backed company added an eleventh-hour sweetener to top a rival bid from Glencore. Rio's mines in Australia's Hunter Valley region are attractive to both Glencore and China because the quality of their coal means it is likely to continue to be burnt even as concerns about emissions deter generators from using poorer quality coal, which is the most polluting of all.  Click here to read full stories.

Jun 27 - Philippines minister may decide on mining closure orders next month

The new Philippines environment minister said on Tuesday he may decide next month on the fate of dozens of mining operations and contracts that his predecessor ordered closed, suspended or cancelled to protect watersheds and other natural resources. Roy Cimatu said he plans to visit mines in the world's top nickel ore supplier to see if they are operating responsibly as he takes a slow approach towards a sector that was the target of a 10-month crackdown led by the previous minister, Regina Lopez. Click here to read full stories.

Jun 27 - Arconic ends sales of panels used at Grenfell Tower for high-rises 

Arconic Inc said on Monday it will stop global sales of plastic-filled aluminum cladding panels for use in high-rise buildings after a fire in London's Grenfell Tower, which used those Arconic panels, killed at least 79 people. Shares of the company, formerly a part of Alcoa, fell as much as 11.3 percent after Reuters reported on Saturday it had supplied the cladding knowing it would be used at Grenfell Tower, despite warning in its brochures those specific panels were a fire risk for tall buildings. Click here to read full stories.

Jun 27 - Japan's Q3 aluminium premium eases to $118-119/T - sources 

Japanese aluminium buyers will pay up to 8 percent less in premiums in the July to September quarter after a fall in spot premiums, five sources directly involved in quarterly pricing talks said. The Japanese aluminium premium was set at $118 to $119 per tonne for metal to be shipped in the third quarter, down 7 percent to 8 percent from $128 per tonne in the previous quarter, the sources said. Click here to read full stories.

Jun 27 - Australia backs lithium mine to spur battery push

The Australian government will invest in a lithium mine for the first time, as part of a wide-ranging effort to shore up power stability in a market increasingly dependent on variable wind and solar power. The government said on Tuesday it would invest about A$20 million ($15 million) into Pilbara Minerals Ltd's Pilgangoora project in Western Australia, which will produce lithium concentrate, a key component in electric vehicles and batteries. Click here to read full stories.

Jun 27 - China's May net gold imports via Hong Kong hits 4-mth low 

Top consumer China's net gold imports via main conduit Hong Kong dropped 39.31 percent in May to the lowest in four months, data showed on Monday. Net gold imports fell to the lowest since January at 45.031 tonnes in May, down from 74.202 tonnes in April, according to data emailed to Reuters by the Hong Kong Census and Statistics Department. Click here to read full stories.

Jun 27 - South Africa's Sibanye Gold aims to restart Cooke mine this week

South African precious metals producer Sibanye Gold aims to resume production at its strike-hit Cooke Mine later this week, but first plans to conduct safety inspections in the shafts on Monday. A company spokesman also said the company needed to wrap up an appeals process for around 1,500 miners who face possible dismissal for taking part in a violent wildcat strike that started almost three weeks ago in protest against a company drive to root out illegal miners. Click here to read full stories.

Jun 27 - Book for Polyus share placement covered, bids closer to lower range: sources 

The order book for a share placement by Polyus, Russia's largest gold producer, is fully subscribed, including a green shoe option which comes on top of the offering, three financial market sources told Reuters on Monday. The sources added that bids were being formed at the lower range of the share price guidance. Click here to read full stories.

Jun 27 - Canada's Mkango aims for rare earths production from 2020

Canada's Mkango Resources, one of a handful of rare earth miners outside China, aims to start production in Malawi in 2020 to catch an expected leap in demand for the metals that are used in electric vehicles and other new technologies. Demand for rare earths, which range from neodymium used in electric motors to lanthanum used to make batteries, is increasing with the emergence of new, greener technology. Click here to read full stories.

Jun 27 - Trustee starts sale of bankrupt Slovak steel mini-mill

A bankruptcy trustee has started an international tender to sell the assets of Slovakia Steel Mills mini-mill in eastern Slovakia, the trustee firm SSR said. The mill with annual capacity of 620,000 tonnes of steel billets and a rolling mill operation was opened in 2011 in the eastern town of Strazske, but fell into bankruptcy in 2015, and the operations have been mothballed. Click here to read full stories.

Jun 27 - South Africa's chamber of mines challenges new charter in court

South Africa's Chamber of Mines has applied to a high court for an interdict to prevent the implementation of a new charter that increases the minimum threshold for black ownership of mining companies, the industry body said on Monday.  "The vast and systemic damage which the publication and threatened enforcement of the 2017 Charter has and continues to inflict ... requires, it is submitted, urgent redress," the chamber said in a statement. Click here to read full stories.

Jun 26 - Glencore in bidding war with China to buy Rio coal assets 

Miner and trader Glencore on Friday hit back with an increased offer of $2.675 billion in cash to buy Australian coal assets from Rio Tinto that earlier this week said it was favouring a Chinese bid. On Tuesday, Rio Tinto said it had selected Yancoal to buy its Coal & Allied division in Australia for $2.45 billion.   That was $100 million lower than a previous counter-bid from Glencore, but Rio said it believed Yancoal's offer could be completed more quickly because it had regulatory approvals.  Click here to read full stories.

Jun 26 - China imports more iron ore from North Korea in May - customs

China raised its imports of iron ore from North Korea in May from a year earlier but bought no coal for a third month after Beijing halted coal shipments from its increasingly isolated neighbour, data showed on Friday. Iron ore arrivals hit 233,508 tonnes, compared with 217,897 tonnes last year. Imports were down 18.2 percent from April, when they hit their highest since August 2014. Click here to read full stories.

Jun 26 - South Africa's mines minister open to talks with companies on new charter 

South Africa Mines Minister Mosebenzi Zwane said on Friday that he was open to talks with companies over a new industry charter, as he rebuked the mining firms for planning to take the new rules to court, saying they were "negotiating in bad faith." Unveiled last week, the revisions to the charter raised the threshold for black ownership in the mining industry to 30 percent from 26 percent and brought in other regulations the sector said it cannot afford. Click here to read full stories.

Jun 26 - Fight over Rio's mines means coal isn't dead; Adani woes show it's dying: Russell  

Here's a question for the anti-coal lobby. If coal is dying, how come there is an increasingly heated bidding war going on for Rio Tinto's coal mines in Australia? Here's another question, this time for the pro-coal lobby. If coal still has a viable long-term future as an energy source, how come the world's biggest planned new mine is now hostage to whether the Australian government decides to loan it money? Click here to read full stories.

Jun 26 - Speculators slash bullish COMEX gold, silver wagers: CFTC 

Hedge funds and money managers slashed their net long position in COMEX gold for the second straight week in the week to June 20, and cut it slightly in silver, U.S. Commodity Futures Trading Commission data showed on Friday. The speculator group cut their net long futures and options position by 49,679 contracts to 105,357 contracts in gold, the lowest level in nearly a month. Click here to read full stories.

Jun 26 - South Africa's Sibanye Gold says aims for Cooke mine restart later this week

South African precious metals producer Sibanye Gold said it aimed to resume production at its strike-hit Cooke Mine later this week after it had conducted safety inspections on Monday. A company spokesman also said the company needed to wrap up an appeals process for around 1,500 miners, who face possible dismissal for taking part in a violent wildcat strike that started almost three weeks ago at the operation. Click here to read full stories.

Jun 26 - Tanzania arrests 66 after unrest at Acacia's North Mara gold mine

Tanzanian security forces have arrested at least 66 people this week after hundreds of villagers invaded Acacia Mining Plc's North Mara gold mine following an escalating dispute in the east African country's mining sector. Officials said on Friday more than 500 residents of villages surrounding the mine in northwestern Tanzania invaded the mine on several days this week in an attempt to steal gold ore after a presidential committee accused London-listed Acacia of large-scale tax evasion, which the company denies. Click here to read full stories.

Jun 26 - Cobalt 27's aims to tap electric car revolution with $150 mln IPO

Minerals company Cobalt 27 Capital Corp made its debut on Canada's Venture Exchange on Friday, raising C$200 million ($150.7 million) in a listing that offers investors exposure to cobalt, a key metal for batteries in electric cars. Cobalt 27's initial public offering highlights the burgeoning market for cobalt as the car industry's push towards electric vehicles gathers pace. Click here to read full stories.

Jun 23 - London Metal Exchange to cut fees, see if volumes can be lured back -sources

The London Metal Exchange is expected to cut trading fees within months after two years of complaints but might only do so for a trial period of up to six months to see if volumes that moved to over-the-counter markets return to the exchange, sources said. A 31 percent average fee hike in January 2015 is cited by metal industry sources as a major reason behind tumbling LME volumes. Click here to read full stories.

Jun 23 - China pushes back as U.S. aluminum industry urges crackdown on imports 

China pushed back on Thursday at charges by U.S. manufacturers and labor unions that it has flooded the market with cheap aluminum and put U.S. producers out of business, saying unilateral punitive trade measures should not be used to try to remedy a global glut of the metal. In a rare appearance at a U.S. government hearing by a Chinese official, Li Xie, director of China's export division at China's commerce ministry, called on the Trump administration to refrain from imposing curbs on Chinese aluminum imports. Click here to read full stories.

Jun 23 - Aluminium industry scrambles to align Trump's trade guns: Home 

Aluminium industry executives will line up on Thursday to have their say on whether foreign imports into the United States pose a threat to the country's security.The Section 232 investigation was announced by the Department of Congress on April 27 and follows hot on the heels of a similar probe into U.S. steel imports, the results of which are pending. Section 232 of the Trade Expansion Act of 1962, to give its full title, was last used in 2001 against imports of iron ore with a "no action necessary" outcome. Click here to read full stories.

Jun 23 - Canada prime minister says steel exports not U.S. security threat

Prime Minister Justin Trudeau on Thursday dismissed the idea that Canadian steel exports posed a national security threat to the United States and expressed confidence Canada would escape any punitive measures. The U.S. administration of President Donald Trump is probing whether foreign-made steel imports pose a risk. The investigation is almost complete, officials say. Click here to read full stories.

Jun 23 - Iron ore reverts to supply-driven market after 2016 aberration: Russell

Iron ore's demand-driven price surge last year is increasingly looking like an aberration as supply factors once again start to weaken the price outlook. When spot Asian iron ore prices jumped 81 percent in 2016, the surprise rally was chalked up to stronger Chinese imports and signs that a market that had been oversupplied for several years was back in balance. Click here to read full stories.

Jun 23 - Thyssenkrupp signals steel merger decision by end Sept - works council

Germany's Thyssenkrupp wants to decide by the end of September whether to pursue a European steel merger with India's Tata Steel, the head of its steel works council said on Thursday. Guenter Back told reporters that Chief Financial Officer Guido Kerkhoff had said the company would decide by the end of the 2016/17 fiscal year whether to proceed, after more than a year of talks that have been complicated by the UK Brexit vote. Click here to read full stories.

Jun 23 - Rio flags $180 mln hit to H1 underlying profit after bond buyback 

Rio Tinto said on Friday it has completed a planned bond buyback, reducing gross debt by $2.5 billion, with the early redemption costs likely to reduce first-half underlying profit by about $180 million. The global miner said that since the start of 2016 it has reduced the face value of outstanding bonds to about $9.5 billion from around $21 billion. Click here to read full stories.

Jun 23 - Usiminas in talks with Brazil's CSA for steel slab supply contract

Usinas Siderúrgicas de Minas Gerais SA, Brazil's No. 1 listed flat steelmaker, has signed a memorandum of understanding to buy slabs from ThyssenKrupp AG's CSA Cia Siderúrgica do Atlántico SA for about 60 months. In a Thursday securities filing, Usiminas said the purchase of CSA's slabs will be funneled into the Cubatão mill. The transaction will only take effect once Brazil's antitrust watchdog Cade decides on the takeover of CSA by Ternium SA which is also a major shareholder in Usiminas, the filing said. Click here to read full stories.

Jun 22 - The great tin wall of China is about to come crashing down: Home 

The great tin wall of China is about to come crashing down. The country is both the world's largest producer and consumer of the packaging and soldering metal. But its interaction with the rest of the global tin market has in the past been severely constrained by a 10 percent export duty. Click here to read full stories.

Jun 22 - China to clamp down on illegal aluminium capacity expansion 

China will launch a crackdown to curb illegal expansion of aluminium capacity in the world's top producer of the metal, the China Non-Ferrous Metals Industry Association said on Wednesday. The National Energy Administration and state planner will inspect power stations owned by aluminium producers in the top six aluminium-producing regions of Xinjiang, Shandong, Gansu, Guangxi, Jiangsu and Shandong, the association said in a statement on its website. Click here to read full stories.

Jun 22 - Freeport Indonesia says giant copper mine running as normal despite strike 

Operations at the world's No.2 copper mine in Indonesia are "running as normal", a spokesman for the local unit of Freeport-McMoRan Inc said, despite thousands of workers extending a strike for another month. Riza Pratama said in a text message on Thursday that "around 25,000 workers and contractors" continued to work at the Grasberg mine, a key supplier to buyers including top metals consumer China. Click here to read full stories.

Jun 22 - China mulls improving iron ore index in pricing push

China is planning improvements to an iron ore price index it launched six years ago, looking to better reflect market dynamics in the world's top consumer of the steelmaking raw material and increase usage by market participants. China has been pushing for a greater say in pricing iron ore in the global market where buyers and sellers mostly use dollar-denominated index prices from providers such as S&P Global Platts and Metal Bulletin. Click here to read full stories.

Jun 22 - Revised South African charter poses threat to miners, says Moody's 

Ratings agency Moody's warned on Wednesday that new regulations seeking to accelerate black ownership in South Africa's mining industry would deter investment, raise costs and diminish cashflow generation. Anglo American, AngloGold Ashanti, Gold Fields, Petra Diamonds, Sibanye Gold and South32 would be the most negatively affected miners if the revised mining charter is implemented, Moody's said. Click here to read full stories.

Jun 22 - Polish copper producer KGHM to make lowest dividend payout in 16 years 

Shareholders in Polish state-run copper producer KGHM on Wednesday approved a dividend payout of 1 zlotys per share, in line with the management board's proposal. The dividend, which amounts to a total of 200 million zlotys ($52.6 million), is the lowest KGHM payout since 2001. Click here to read full stories.

Jun 22 - Deutsche Bank taps Rose to head metals and mining team in Americas 

Deutsche Bank has hired Jonathan Rose as the head of its metals and mining investment banking team in the Americas, according to an internal memo, the contents of which were confirmed on Wednesday by a Deutsche Bank spokeswoman. Rose will be based in New York and report to John Anos, co-head of the bank's global industrials group. He joins Deutsche Bank from BMO Capital Markets, where he was responsible for coverage of the global coal and North American iron ore and metals sectors. Click here to read full stories.

Jun 22 - Denmark's FLSmidth sees slow recovery in investment by mining firms

Danish mining equipment and cement factory maker FLSmidth said on Wednesday that investment by mining firms was only slowly recovering and low prices were still weighing on the cement business. "It is still a bumpy road ahead, investments are very low - crudely low - in the mining industry, and pricing pressure is very strong in cement," Chief Executive Officer Thomas Schultz told Reuters at the firm's capital markets day in Copenhagen. Click here to read full stories.

Jun 21- Rio Tinto recommends Yancoal coal offer over Glencore

Rio Tinto, selected Yancoal on Tuesday to buy its Coal & Allied division in Australia for $2.45 billion, surprising commodities trading giant Glencore, which had put in a higher bid. Glencore offered $2.55 billion cash this month for Rio's coal mines in the Hunter Valley region of New South Wales, beating a previous offer from Yancoal, which is based in Australia and owned by China's Yanzhou Coal Mining Company. Click here to read full stories.

Jun 21- Russia's Rusal may cancel Paris listing, head to London - sources

Russian aluminium producer Rusal is considering cancelling its Euronext listing in Paris and instead moving to a technical listing in London, two sources close to the company said. The move would not require new shares to be placed. Click here to read full stories.

Jun 21- Rio Tinto starts new exploration in Mongolia's Gobi desert 

Anglo-Australian miner Rio Tinto has started new exploration work in Mongolia's Gobi desert after a gap of around five years, in a sign that Mongolia is having some success at bringing back foreign investors. Cash-strapped Mongolia had turn to the International Monetary Fund for support this year following a collapse in foreign investment, declining commodity prices and a downturn in coal demand. Click here to read full stories.

Jun 21- Constellium sees aluminium comeback in planes with new mixes 

All-metal planes are a thing of the past, but evolving aluminium-based materials remain in the race with composites to supply the next generation of jets, according to aluminium maker Constellium. The growing use of carbon composites in aircraft has eroded aluminium's dominance as the material of choice for planemakers. Click here to read full stories.

Jun 21- China's Fosun raises offer for Fabergé owner Gemfields 

China's Fosun International has increased its offer for Fabergé owner Gemfields to 256 million pounds ($324 million), turning up the heat in a bid battle with the largest shareholder of the London-listed company. Fosun Gold, part of the acquisitive Fosun International conglomerate, said on Tuesday it had increased its offer for Gemfields to 45 pence per share from an earlier proposal of 40.85 pence per share. Click here to read full stories.

Jun 21- Global crude steel output jumps 2 percent in May

Global output of steel, a gauge of economic health, jumped 2 percent in May, retreating from the 5 percent surge in April as demand for the alloy tapers off, industry data showed on Tuesday. Producers churned out 143 million tonnes of crude steel in May versus 140 million tonnes a year ago, according to the World Steel Association (Worldsteel). Click here to read full stories.

Jun 21- Metals recycler Befesa attracts private equity bids - sources

Metals recycler Befesa has attracted bids from several private equity groups as its owner mulls whether to list the company on the stock exchange or opt for an outright sale. CVC, Blackstone and Access Industries have put in non-binding offers for the company, which is owned by buyout group Triton, the people said. Click here to read full stories.

Jun 20 - Britain's Liberty House submits revised bid for Australia's Arrium

Britain's Liberty House Group said on Monday it submitted a revised bid for troubled Australian steel group Arrium Ltd, after last week conceding defeat to a South Korean private equity syndicate. "We remain passionate about the opportunity and intend to continue pursuing discussions," Liberty House said in an email to Reuters. Click here to read full stories.

Jun 20 - China's top tin producer says given approval for "processing trade" 

China's Yunnan Tin Co Ltd, the world's biggest tin producer, says it has received government approval for so-called "processing trade", churning out refined metal for export using concentrate shipped in from abroad. That could provide a further boost to Chinese tin exports that have already been climbing this year, buttressing dwindling stocks abroad and dampening global prices. Click here to read full stories. 

Jun 20 - Chinese steel exports sliding sharply, but for how long? Home 

China's exports of steel product have fallen sharply over the first few months of this year. The January-May total was 34.2 million tonnes, down 26 percent on last year's equivalent figure and the lowest read since 2014. The year-on-year drop in tonnage terms was 12.1 million, which is roughly what Canada, the world's 17th-largest producer, churned out over the full 12 months of 2016. Click here to read full stories.

Jun 20 - Germany writes to U.S. to criticise plans to act against steel imports 

German Economy Minister Brigitte Zypries has written a letter to U.S. Commerce Secretary Wilbur Ross in which she criticised Washington's plans to take action against steel imports, a German newspaper reported. An investigation by U.S. President Donald Trump's administration into whether foreign-made steel imports pose a risk to U.S. national security is nearly done, a senior U.S. official said on Friday. The probe's findings are expected to be released later this week. Click here to read full stories.

Jun 20 - China's plan to boost commodity trading needs reality check: Russell 

The call by China's securities regulator for the country's wealth managers to invest in domestic commodity futures is both encouraging and somewhat bizarre. The China Securities Regulatory Commission (CSRC) aims to promote the domestic derivatives industry by loosening regulations that restrict how commercial banks, insurance companies and pension funds invest in commodity futures, Fang Xinghai, the commission's vice chairman, said on June 17. Click here to read full stories.

Jun 20 - Some Indonesian nickel smelters cease operations due to falling prices 

About a dozen newly constructed nickel smelters in Indonesia have stopped operations due to a plunge in nickel prices while others are operating at a loss, an industry association executive said on Monday. Thirteen smelters with a combined capacity of 750,000 tonnes of nickel pig iron a year "were forced to cease operation" because nickel prices reached as low as around $8,000 a tonne, Jonatan Handojo, deputy chairman of the Indonesian Smelter Association told Reuters, declining to name the owners of the smelters. Click here to read full stories.

Jun 20 - South Africa's Sibanye says Cooke mine shut until at least Thursday

Sibanye Gold's Cooke mine in South Africa will remain shut until at least Thursday as the company goes through an appeals process for workers fired for taking part in a wildcat strike, it said on Monday. Sibanye is losing 15 kg of gold production there per day, highlighting the social risks of mining in South Africa. Click here to read full stories.

Jun 19 - BHP's new chairman has choice between exciting and boring: Russell

There has been no shortage of advice doled out to incoming BHP Billiton chairman Ken MacKenzie on how to boost the world's largest mining company, but ultimately his role comes down to a fairly straightforward choice. Does BHP want to be a cutting edge mining company always on the prowl for the next big opportunity, or does it want to be a cautious, dividend-focused cash generator, something akin to being the telecoms utility of the mining world? If there is anything that can be learned from the performance of BHP, and indeed most of its global mining rivals, in the past decade, it's that escaping the ups and downs of the commodity cycle is extremely difficult for a miner. Click here to read full stories.

Jun 19 - South Africa's mines minister defends new mining charter

South Africa mine's minister on Sunday defended new regulations seeking to accelerate black ownership in the key industry as a "win-win" situation for all, despite objections from an industry body threatening court action to block the changes. Minister Mosebenzi Zwane released the government's revised Mining Charter on Thursday, raising the minimum threshold for black ownership of mining companies to 30 percent from 26 percent, and giving resource companies 12 months to meet the target among a raft of other regulations that hit mining stocks.  Click here to read full stories.

Jun 19 - Speculators cut bullish COMEX gold, silver stances - CFTC

Hedge funds and money managers reduced their net long positions in COMEX gold and silver for the first time in four weeks, in the week to June 13, U.S. Commodity Futures Trading Commission (CFTC) data showed on Friday. The speculators increased their net long position in copper futures and options, the data showed. In gold, they cut their net long position by 19,621 contracts to 155,037 contracts as prices fell from seven-month highs while the market readied for the U.S. Federal Reserve to raise interest rates. Click here to read full stories.

Jun 19 - U.S. finds harm from Japan, Turkey rebar imports, duties to remain

The U.S. International Trade Commission said on Friday it made a final finding that exports of steel concrete reinforcing bar, or rebar, from Japan and Turkey hurt U.S. producers, ensuring that anti-dumping and anti-subsidy duties on the building material remain in effect. The U.S. Commerce Department made a final determination on May 16 that Japanese and Turkish producers dumped rebar on the U.S. market and that Turkish rebar exports were subsidized. Click here to read full stories.

Jun 19 - India's Bhushan, Essar Steel among 12 firms being moved to insolvency courts - sources

India's central bank has asked lenders to initiate bankruptcy proceedings against a dozen companies, including Essar Steel, Bhushan Steel Ltd, Monnet Ispat and Energy Ltd, sources with direct knowledge of the matter said. This follows a change enacted in laws last month that gives the Reserve Bank of India greater power to address the $150 billion stressed loan problem plaguing growth in Asia's third-largest economy. This week, the RBI said it had identified 12 of the country's biggest loan defaulters. Click here to read full stories.

Jun 19 - Tokyo Steel to keep product prices unchanged for fifth month 

Tokyo Steel Manufacturing Co Ltd, Japan's top electric-arc furnace steelmaker, said on Monday it will hold its product prices steady for a fifth straight month in July to reflect flat spot prices in the local market. "We are sticking to the current prices as the domestic market remains at a standstill," Tokyo Steel's managing director Kiyoshi Imamura told a news conference on Monday. Click here to read full stories.

Jun 19 - SolGold boosts budget to explore for copper, gold all over Ecuador

Copper and gold explorer SolGold on Friday said it was raising $41.2 million, on top of more than $30 million announced in October, as it widens its search for resources in Ecuador after already finding one world class asset. Ecuador has been increasing its profile as a country open to foreign mining and has shifted its resource focus from oil and gas as its reserves dwindle and oil prices stagnate, analysts say. Click here to read full stories.

Jun 19 - Gold Reserve gets $40 mln of $1.03 bln settlement deal with Venezuela

Gold Reserve Inc said on Friday it received $40 million from the government of Venezuela as part of a $1.03 billion settlement arbitrated by the World Bank for the termination of its Las Brisas gold concession in 2009. Venezuela will pay the balance in installments over the next two years as part of an amended Settlement Agreement, the Canadian miner said.  Click here to read full stories.

Jun 19 - Canadian miners, casinos hit by hacker eyeing new targets - FireEye 

The same hacker targeting Canadian casinos and mining companies for extortion since 2013 is planning more attacks, researchers at cyber security company FireEye Inc  said in a report on Friday. FireEye said it believes that a single hacker or hacking group that it dubbed FIN10 is behind the breaches due to similarities in method: how they broke into corporate systems, stealing gigabytes of sensitive data and demanding ransom paid in Bitcoin, and publicizing the stolen information by alerting bloggers. Click here to read full stories.

Jun 16 - BHP names packaging guru MacKenzie as new chairman 

Mining giant BHP, on Friday named successful packaging executive Ken MacKenzie as its next chairman, handing him the job of tackling calls to dump its oil business and overhaul the board. MacKenzie, 53, succeeds Jac Nasser as of Sept. 1 at a time when the world's biggest miner is being challenged by activist investors to revamp its structure and improve returns to shareholders. Click here to read full stories.

Jun 16 - South Africa raises black ownership threshold for mining firms 

South Africa has raised the minimum threshold for black ownership of mining companies to 30 percent from 26 percent, the government said on Thursday, though an industry body said it would try to block it and other regulatory changes in court. Mining firms in the world's top platinum producer have complained about a lack of consultation over revisions to an industry charter that sets targets for black ownership and participation in the powerful sector. Click here to read full stories.

Jun 16 - Shanghai exchange to speed up plan for stainless steel, scrap contracts 

Shanghai Futures Exchange will speed up plans to launch stainless steel and steel scrap futures contracts, a senior manager said on Friday, as one of the world's top commodity futures marketplaces seeks to expand its metals offerings. Senior commodities manager Chen Ye said at an industry conference that the exchange has produced a report on the plan which it has sent to industry associations. He did not give a time frame for any possible launch. Click here to read full stories.

Jun 16 - Argentina lifts curbs on Barrick mine; full operations lag 

Authorities in the Argentineprovince of San Juan lifted restrictions on leaching operations at Barrick Gold Corp's Veladero mine on Thursday, but the world's biggest gold producer said it would not immediately resume full operations. Judge Pablo Oritja told a radio station that he understood Barrick had finished all required work, following its third cyanide spill in 18 months, and had ordered an end to restrictions put in place in late March.  Click here to read full stories.

Jun 16 - S.Korean consortium led by Newlake preferred bidder for Arrium - administrator 

A South Korean private equity syndicate led by Newlake Alliance and JB Asset Management has been named as the preferred bidder in the sale process for troubled Australian steel group Arrium Ltd, Arrium's financial administrator confirmed on Thursday. Arrium's committee of creditors decided on the Korean group over Great Britain's Liberty House, the industrials and commodities group that has been snapping up troubled steel plants around the world, according to the administrator, KordaMentha. Click here to read full stories.

Jun 16 - Polyus to sell up to 9 pct of its shares in London, Moscow offering 

Russia's top gold producer Polyus will offer between 7 and 9 percent of its shares, including new shares, in its planned stock offer in London and Moscow, it said on Thursday as it set a price range. The price range was set at $33.25-$35.30 per global depositary share in London, corresponding to a price of $66.50-$70.60 per ordinary share in Moscow, Polyus said in a statement. The latter will be paid in roubles. Click here to read full stories.

Jun 16 - Steel maker Nucor forecasts 2nd-qtr earnings below estimates

U.S. steelmaker Nucor Corp on Thursday forecast second-quarter earnings per share below estimates, hurt in part, by weak demand in its steel mills business. Nucor's shares fell as much as 6.3 percent to $55.40 in morning trading after the company said it expects earnings of $1.00 to $1.05 per share for the second quarter ending July 1. Analysts on average were expecting $1.22 per share, according to Thomson Reuters I/B/E/S. Click here to read full stories.

Jun 16 - De Beers, Namibia launch world's biggest diamond exploration ship 

Anglo American's diamond unit De Beers on Thursday launched the world's largest diamond exploration vessel off the coast of Namibia as it looks to maintain high production levels until 2035. The 12,000-tonne, 113-metre-long SS Nujoma was built at a cost of $157 million and is named after Sam Nujoma, Namibia's founding president. Click here to read full stories.

Jun 16 - South Africa's Sibanye says sacks 1,500 workers over wildcat strike

South African mining firm Sibanye Gold has fired around 1,500 workers taking part in a wildcat strike at its Cooke mine, it said on Thursday, prompting an angry reaction from the biggest gold miners' union. Workers at the mine downed tools over a week ago, angered by a company drive to root out illegal miners which has included the arrest of employees for collusion and taking food down to the illegal miners working underground.  Click here to read full stories.

Jun 16 - Teck lowers forecast for steelmaking coal price, shares drop

Teck Resources Ltd shares fell nearly 4 percent onThursday after the diversified Canadian miner clipped its forecast of the average realized price for its steelmaking coal in the second quarter, citing sales disruptions. Vancouver-based Teck said it now expects an average realized price of $160 to $165 per tonne,lagging the $190 benchmark price and trailing the $213 price realized in the first quarter. Click here to read full stories.

Jun 16 - Acacia Mining says Tanzania output hit but annual targets unchanged

Acacia Mining's production of gold from Tanzania has been hit by an export ban but targets for the year remain unchanged at this stage, Chief Executive Brad Gordon said on Thursday. The Tanzanian government and Acacia's majority owner Barrick Gold agreed on Wednesday to begin talks over a ban in effect since March that has blocked the shipment of concentrates from two of Acacia's three gold mines.  Click here to read full stories.

Jun 16 - Australian lithium miner Neometals plans U.S listing

Australian lithium miner Neometals plans to list in New York and may spin off its processing technology in an attempt to boost its share value, Chief Executive Chris Reed said. The share prices of lithium producers are volatile because of uncertainty surrounding supply, demand and pricing as analysts disagree over the potential size of the market for electric vehicles, many of which use lithium batteries. Click here to read full stories.

Jun 15 - In reversal of fortune, China's low-value steelmakers beat high-end peers 

Powered by China's infrastructure push, Chinese construction steel producers are seeing their best profits in years, lording it over their high-value counterparts in a setback for Beijing's years-long drive urging steelmakers to move up the value chain. As its manufacturing engine sputters, the world's second largest economy is increasingly relying on infrastructure spending to boost growth, spurring demand for construction steel products and lifting producer profit margins to near record levels. Click here to read full stories.

Jun 15 - Demand, not supply, is the great unknown for lithium and cobalt: Andy Home 

The number of electric vehicles on roads worldwide rose to a record high of 2 million last year, according to the International Energy Agency (IEA). That represented a doubling from the 2015 tally but electric cars still only accounted for 0.2 percent of the global count.  Click here to read full stories.

Jun 15 - Barrick Gold to hold talks with Tanzania over export row 

Barrick Gold's chairman and Tanzania's president met on Wednesday and agreed to hold talks aimed at resolving an escalating dispute over an export ban which has hit Barrick's Acacia Mining PLC. Shares in Acacia, which is 63.9 percent owned by Barrick, jumped as much as 11 percent, to 303 pence, after the news and closed 5.5 percent higher, outpacing sector rivals. Click here to read full stories.

Jun 15 - China cuts 97 mln T of coal, 42.4 mln T of steel capacity 

China, the world's top steelmaker and coal consumer, cut 97 million tonnes of coal capacity and 42.4 million tonnes of steel capacity by end-May, the state planner said on Thursday, as part efforts to tackle pollution and curb excess supply. The capacity reduction is 65 percent of China's targeted cuts for coal and 85 percent for steel in 2017, spokeswoman Meng Wei of the National Development and Reform Commission said at a regular briefing. Click here to read full stories.

Jun 15 - ISS, Glass Lewis approve restructuring at Brazil's Vale - source 

Consulting firms ISS and Glass Lewis have given a nod of approval to a restructuring plan for Brazilian miner Vale SA, boosting the chances of shareholder approval, a source said on Wednesday. The corporate restructuring process, announced on Feb. 20, seeks to strengthen the company's compliance and will be voted on at an extraordinary shareholders' meeting on June 27. Click here to read full stories.

Jun 15 - Freeport, China Moly agree to end talks on cobalt assets 

Freeport-McMoRan Inc, the world's biggest publicly traded copper miner, and China Molybdenum Co Ltd (CMOC) have agreed to terminate discussions on CMOC's acquisition of Freeport's cobalt assets, Freeport said on Wednesday. China Moly had an exclusive right to negotiate for the assets, which includes the Kokkola Cobalt Refinery in Finland and the Kisanfu exploration project in the Democratic Republic of Congo, but that exclusivity period expired Feb. 28, said a Freeport spokesman. Click here to read full stories.

Jun 15 - Glencore to pitch to Rio board for Australian coal unit - sources 

Glencore will pitch its $2.55 billion bid for Rio Tinto's Australian Coal & Allied unit directly to Rio Tinto's board in Canada on Thursday, two sources familiar with the matter told Reuters. The meeting, headed by Glencore's Australian Chief Executive Peter Freyberg, comes five days after Glencore outbid Chinese-owned Yancoal for Coal & Allied Industries Ltd, which operates thermal coal mines in Australia's Hunter Valley.  Click here to read full stories.

Jun 15 - Russia's Rusal plans 19 pct aluminium output boost by 2021 

Russian aluminium giant Rusal said it plans to boost its production by 19 percent from 2016 levels to 4.4 million tonnes by 2021, amid rising global demand. Rusal, which is controlled by Russian tycoon Oleg Deripaska, said in a presentation it expected global demand for aluminium to grow by 4 to 5 percent per year until 2021 amid higher demand for "green" aluminium and advanced alloys. Click here to read full stories.

Jun 15 - Egypt's Ezz Steel could raise steel rebar output if tariffs continue 

Egypt's largest steelmaker Ezz Steel could raise its production of rebars to its maximum capacity of 4.6 million tonnes per year if tariffs on imported rebars continue, George Matta, the company's marketing director, told Reuters on Wednesday. Egypt imposed temporary tariffs on steel rebars from China, Turkey and Ukraine last week that are set to last for four months, in a move to protect local manufacturers hurt by imports. Click here to read full stories.

Jun 14 - Elliott calls for BHP board overhaul as new chairman looms 

Activist shareholder Elliott Management called on BHP on Wednesday to "upgrade" its board of directors as the mining giant prepares to select a new chairman this week. "BHP has an entrenched board, with long-tenured directors having approved the disastrous acquisitions and poorly timed share buybacks that are at the root of much of today's underperformance," Elliott said in a statement. Click here to read full stories.

Jun 14 - Dominion Diamond says working diligently on sales process

Canada's Dominion Diamond Corp, which put itself up for sale in March, is working "diligently" on this process and will share news with the market when it has any, Chairman Jim Gowans said on Tuesday, declining to comment further. Speaking on a conference call about the company's results, which were released late on Monday, Gowans said Dominion's search for a new chief executive continues. Click here to read full stories.

Jun 14 - Rio Tinto CEO sees Canada as less business-friendly than in past 

The chief executive of Anglo-Australian miner Rio Tinto, which owns iron ore, diamond and aluminum mines and processing facilities in Canada, said on Tuesday that it was becoming tougher to do business in the resource-rich country. "You know mining well and you understand its value, but to be very frank it has been getting harder to do business here over the years - from employee relations to tax to managing land access," Rio Tinto CEO Jean-Sebastien Jacques said in prepared remarks to be delivered at the International Economic Forum of the Americas in Montreal. Jacques did not elaborate on his comments. Click here to read full stories.

Jun 14 - China steel output climbs 1.8 pct in may from year before 

China's steel output rose 1.8 percent in May from a year earlier, data from the country's statistics bureau showed on Wednesday, with mills in the world's top producer buoyed by robust margins despite government efforts to curb excess capacity. May's total of 72.26 million tonnes was just below April's monthly record of 72.78 million tonnes. Click here to read full stories.

Jun 14 - Hydro CEO says Qatar aluminium exports go as planned despite tensions

Qatar's Qatalum aluminium plant is now exporting metals via ports in Kuwait and Oman, as well as a Qatari container port, following a diplomatic row with neighbours that had blocked shipments, Norsk Hydro told Reuters on Tuesday. Hydro, which owns 50 percent of the plant, last week said new export routes had been established but declined at the time to say which countries it would go through.  Click here to read full stories.

Jun 14 - Argentina signs mining deal to unify regulations, attract investment

Argentina's national government and the governors of 20 provinces signed a mining deal on Tuesday to harmonize taxes and regulations in hopes of attracting investment, but the action was criticized by industry sources and environmentalists alike. The agreement, which needs approval from Congress and the 20 provincial legislatures, sets a 3 percent ceiling on royalties mining companies pay to provinces. Click here to read full stories.

Jun 14 - Grupo Mexico could double metals smelting capacity in Peru - Kuczynski

Grupo Mexico SAB de CV could double its metals smelting capacity in Peru because environmental regulations have been loosened, Peruvian President Pedro Pablo Kuczynski said on Tuesday. Last week, Peru approved new air and water quality standards consistent with Kuczynski's goal of persuading mining companies to invest more in metals processing to add value to the Andean country's mineral exports. Click here to read full stories.

Jun 13 - U.S steel association urges better coordination under new NAFTA 

The top U.S. steelmakers' association on Monday called for better coordination and enforcement of rules under a renegotiated North American Free Trade Agreement to guard against Mexico, the United States and Canada becoming a dumping ground for cheap steel from other countries. In comments to the U.S. Trade Representative ahead of NAFTA negotiations in August, the head of the American Iron and Steel Institute (AISI), Thomas Gibson, urged updates to NAFTA's rules of origin - how much of a product is made in North American - new measures to curb steel dumped on the market by non-NAFTA countries, and steps to improve customs procedures. Click here to read full stories.

Jun 13 - Trump says anti-dumping bill for steel, aluminum coming soon 

Legislation to address the dumping of foreign steel and aluminum in the United States will come "soon," U.S. President Donald Trump told reporters at the White House on Monday. Trump, speaking ahead of a scheduled meeting with his Cabinet, gave no other details about the forthcoming proposal. Click here to read full stories.

Jun 13 - Copper demand for electric cars to rise nine-fold by 2027 - ICA

The growing number of electric vehicles hitting roads is set to fuel a nine-fold increase in copper demand from the sector over the coming decade, according to an industry report on Tuesday. Electric or hybrid cars and buses are expected to reach 27 million by 2027, up from 3 million this year, according to a report by consultancy IDTechEx, commissioned by the International Copper Association (ICA). Click here to read full stories.

Jun 13 - Impact of copper strikes fizzles on scrap inflow, mine rebound 

Disruptions at the two biggest copper mines early this year may have only a muted impact on prices after a surge of scrap metal partially filled the supply gap and a recovery in mine output is due to help in the second half. A strike at the world's biggest copper mine, Chile's Escondida, and other disruptions initially prompted worries about shortages of the metal used in construction and power transmission, pushing up prices. Click here to read full stories.

Jun 13 - Natixis sues Marex Spectron over metals warehouse receipts 

French bank Natixis has sued metals broker Marex Spectron for $32 million over alleged fraudulent receipts for nickel stored at warehouses in Asia run by a unit of commodities giant Glencore, a court filing showed. In the legal action, filed in London's High Court, Natixis said it would seek damages from Marex because the bank provided finance based on fake receipts in a deal arranged by the broker. Click here to read full stories.

Jun 13 - Should aluminium bulls be worried by falling physical premiums?: Home 

Aluminium is still the star of the London Metal Exchange (LME) base metals complex, up by over 12 percent on the start of the year. After recording a two-year high of $1,981 per tonne in March, LME three-month metal has eased slightly but is largely holding its ground around the $1,900 level. Click here to read full stories.

Jun 13 - China to speed up closing small-scale coal mines to improve safety

China will speed up the closure of small-scale coal mines and strengthen inspections on safer production over the next three years, a government plan released on Monday showed. Beijing will accelerate closing small-scale coal mines with an annual production capacity of 90,000 tonnes or less, as part of its plan to improve mine safety, according to the 13th five-year plan on the production safety of coal mines, jointly issued by China's State Administration of Work Safety and State Administration of Coal Mine Safety. Click here to read full stories.

Jun 13 - Acacia Mining disputes Tanzania audit as shares sink

Acacia Mining on Monday disputed the outcome of a second audit by the Tanzanian government which said the company had underdeclared revenues and tax payments for years and by billions of dollars, sending its shares 13 percent lower. The investigation committee, commissioned by President John Magufuli, recommended that the gold miner pay outstanding taxes and royalties, and called for a review of mining laws and government ownership in mines. Click here to read full stories.

Jun 13 - Miner Crystallex inches forward in legal dispute with Venezuela

Canadian mining company Crystallex has won a court order that advances its efforts to collect on a $1.4 billion award linked to a dispute with Venezuela over the 2008 expropriation of the Las Cristinas gold project. Crystallex in 2016 won an award of $1.2 billion plus interest from a World Bank Tribunal. In March, it won a ruling by a U.S. District of Columbia court upholding that award, a crucial step in being able to seize Venezuelan assets in the United States.  Click here to read full stories.

Jun 13 - Australia's Resolute Mining to open 3 mln oz Mali gold mine end-2018 - CEO

Australia's Resolute Mining will start producing gold from a 3 million ounce underground deposit at its Syama gold mine next year, its CEO told Reuters. In an interview while visiting Mali's capital Bamako this weekend, Resolute Mining CEO John Welborn also said a recently discovered adjacent deposit called Nafolo was expected to yield between 1.5 million and 2 million ounces of recoverable gold reserves. Click here to read full stories.

Jun 12 - Glencore outbids Yancoal for Rio Tinto's Hunter Valley coal mines 

Miner-trader Glencore  on Friday said it had offered $2.55 billion cash for coal mines owned by Rio Tinto in Hunter Valley, Australia, outbidding a previous offer from Chinese-owned Yancoal. The large-scale, long-life assets are next to mines already owned by Glencore, which has predicted continued demand for coal, especially in Asia, despite environmental opposition to the most polluting form of fossil fuel. Click here to read full stories.

Jun 12 - EU sets steel import duties to counter Chinese subsidies 

The European Union has set duties of up to 35.9 percent on imports of hot-rolled flat steel from China to counter what it says are unfair subsidies in a finding challenged by Beijing. The European Commission (EC), which conducted an investigation on behalf of the 28 EU members, found a number of Chinese companies had benefited from preferential lending from state-owned banks, grants, tax deductions and the right to use industrial land. Click here to read full stories.

Jun 12 - Violence, wildcat strike hits Sibanye Gold mine in South Africa 

Miners have downed tools and 16 workers have been physically assaulted in a wildcat strike at Sibanye Gold's Cooke operation west of Johannesburg, the company said on Friday. Sibanye spokesman James Wellsted said about 3,900 workers were striking against the company's drive to root out illegal mining from its operations, which has included the arrest of employees accused of collusion with criminal elements and a policy of not allowing any food to be taken underground. Click here to read full stories.

Jun 12 - Speculators lift bullish COMEX gold wagers to seven-month high - CFTC 

Hedge funds and money managers raised their net long position in COMEX gold for the third straight week to the highest in seven months in the week to June 6, and upped it slightly in silver, U.S. Commodity Futures Trading Commission data showed on Friday. Money managers increased their net long position in bullion by 43,086 lots to 174,658 lots in the week to June 6, the data showed. The hike came as prices rose more than 2 percent during the period, as the dollar was pressured by disappointing U.S. jobs data, denting expectations of further rate hikes after the widely expected one next week.  Click here to read full stories.

Jun 12 - Activist Icahn reduces stake in miner Freeport-McMoRan

Activist investor Carl Icahn reduced his stake in Freeport-McMoRan Inc, the world's biggest publicly traded copper miner, to 6.33 percent as of June 6, from 7.2 percent in late November, according to a regulatory filing on Friday. In 2015, the billionaire investor took a large stake in the Phoenix, Arizona-based company, saying Freeport was undervalued. Click here to read full stories.

Jun 12 - S.Africa's Sibanye says 178 illegal miners now arrested at strike-hit Cooke mine 

South Africa's Sibanye Gold  said on Monday that 178 illegal miners have now been arrested at its Cooke operations since the start of a violent wildcat strike last Tuesday. A company source, who declined to be identified because he is not authorised to speak on the record, also said the strike was continuing. The strike was triggered by worker resentment at a company drive to root out illegal miners, who pilfer gold from its shafts after gaining access by employee collusion. Click here to read full stories.

Jun 12 - India takes U.S. to WTO for failing to drop steel duties

India has complained to the World Trade Organization that the United States has failed to drop anti-subsidy duties on certain Indian steel products after losing an earlier ruling, a document published by the WTO said on Friday. India said the United States had failed to meet an April 2016 deadline to comply with a WTO ruling that faulted it for imposing countervailing duties on hot-rolled carbon steel flat products from India. The non-compliance complaint, effectively a new trade dispute, could lead to India asking to impose trade sanctions if the United States is found not to have complied. Click here to read full stories.

Jun 12 - Nippon Steel to set April-June coking coal prices off spot price indexes 

Nippon Steel & Sumitomo Metal Corp, Japan's biggest steelmaker, has ended quarterly negotiations with Australian suppliers over coking coal prices for April to June and will set quarterly prices based on spot price indexes, a spokesman said on Monday. The move suggests the end of the decades-old fixed price settlement mechanism between Japanese steelmakers and global miners and follows recent swings of the prices of the key steel-making ingredient. Click here to read full stories.

Jun 12 - Alcoa restores half its Australian aluminium output in wake of blackout 

Global aluminium maker Alcoa has restarted half the capacity at its aluminium smelter in Australia's Victoria that was crippled by a state-wide blackout six months ago. The Portland smelter has been running at a third of its 300,000-tonnes-per-year capacity since a freak storm prompted the power outage in December, causing molten aluminium to solidify in the facility's potlines and freezing production. Click here to read full stories.

Jun 12 - Peru mine workers to begin nation-wide strike on July 19 -union leader

Peruvian miners plan to begin an indefinite nation-wide strike on July 19 to protest "anti-labor" government proposals, the National Federation of Miners, Metallurgists and Steelworkers secretary general Ricardo Juarez said on Friday. The federation, which groups 110 unions representing 40,000 workers at various mines in Peru, had approved the strike in May but did not set a date. Peru is the world's second-largest producer of copper, zinc and silver, and the sixth-largest producer of gold.  Click here to read full stories.

Jun 09 - Freeport 'on path' to new Indonesia mine deal this year, CFO says 

Freeport-McMoRan Inc, the world's largest publicly traded copper miner, is "on a path" to get a new mining deal with Indonesia this year for its giant Grasberg mine, Chief Financial Officer Kathleen Quirk said Thursday. The Arizona-based company resumed copper concentrate exports from Grasberg, the world's second-biggest copper mine, in April after a 15-week outage related to a government dispute over mining rights. Freeport had planned to ramp up production, which was cut by around two-thirds during the outage. Click here to read full stories.

Jun 09 - Funds exit zinc but is it just a strategic retreat? Andy Home 

What's up with zinc? Or maybe the question should be, what's down with zinc?London Metal Exchange (LME) zinc was trading just shy of $3,000 per tonne as recently as late February. At one stage on Wednesday it hit a seven-month low of $2,427.50 and has since staged only a half-hearted recovery to $2,480.00. Click here to read full stories.

Jun 09 - ICE, LME vie for control of London silver benchmark price 

Two contenders have emerged to run London's silver benchmark - gold benchmark operator Intercontinental Exchange (ICE), which offers a model with clearing, and a flexible auction process proposed by the London Metal Exchange (LME). The London Bullion Market Association (LBMA), which owns the copyright for the LBMA Silver Price, will discuss the two bids on June 15, three sources with direct knowledge of the matter said. It is due to announce a replacement for current operators CME Group and Thomson Reuters this summer. Click here to read full stories.

Jun 09 - As residents protest, steelmakers eye sales from new Moscow homes 

A plan to resettle almost a million Muscovites in newly-built homes has sparked some of the Russian capital's largest protests in years. But for the country's steelmakers the $50 billion construction project presents a valuable sales opportunity. Russian steel producers have suffered over the last two years as global steel prices plumbed 11-year lows and a prolonged economic downturn derailed construction and infrastructure projects, which account for 80 percent of domestic demand. Click here to read full stories.

Jun 09 - U.S. Commerce chief sees "genuine" national security concern on steel 

U.S. Commerce Secretary Wilbur Ross said on Thursday that a national security review of the U.S. steel industry will be completed "very shortly" and will seek to protect the interests of both domestic steel producers and consumers. Ross told a Senate Appropriations subcommittee hearing that he believes there is "a genuine national security issue that must be considered in this case," the second major signal in two days that the Trump administration is preparing new steel import restrictions. Click here to read full stories.

Jun 09 - Brazilian miner Vale could cut number of directors - O Globo 

Brazilian miner Vale SA is expected to cut the number of executive directors to four from six, according to a local newspaper column published on Thursday. The piece by columnist Ancelmo Gois of the El Globo newspaper did not offer further detail on the restructuring plans. Click here to read full stories.

Jun 09 - Nippon Steel loses bid to protect former Usiminas CEO from lawsuit 

A Brazilian judge has ruled against Nippon Steel & Sumitomo Metal Corp's request to dismiss a lawsuit by Brazil's Usinas Siderúrgicas de Minas Gerais SA against a Nippon Steel-backed executive, deepening a dispute over control of the steelmaker. In a Thursday securities filing, the steelmaker known as Usiminas said the judge's decision relates to Nippon Steel's claims that an Usiminas board decision to remove the executive, former Chief Executive Officer Rômel de Souza, was illegal. Click here to read full stories.

Jun 09 - Greece to seek arbitration over Eldorado mine plans 

Greece will seek arbitration to settle its differences with Canada's Eldorado Gold Corp over gold mine developments, the country's energy ministry said on Thursday before the company's stock dropped more than 6 percent. Energy Minister George Stathakis has requested that the state's legal advisers prepare for the arbitration process to begin, the ministry said, without specifying terms or assets. Click here to read full stories.

Jun 09 - Codelco mines in Chile restart operations after rains 

Chilean copper company Codelco has restarted operations at mines in the northern part of the country after a rain storm caused a series of precautionary closures, the state-owned firm said on Thursday. The company's Radomiro Tomic, Ministro Hales, and flagship Chuquicamata mines had restarted and were operating normally, Codelco said in a statement. Click here to read full stories.

Jun 09 - Tanzania says to introduce clearing fee for mineral exports 

Tanzania plans to introduce a 1 percent clearing fee on the value of mineral exports in 2017/18 (July-June), its finance minister said on Thursday, part of government measures aimed at getting a bigger share of revenues from the east African country's natural resources."The government will not allow the direct export of minerals from mines," finance and planning minister Philip Mpango said in his budget speech in parliament.

Jun 08 - Mexico owes Canada miners over $360 mln, led by Goldcorp - documents 

Mexico's tax agency is holding over $360 million in tax rebates owed to six Canadian miners, including $230 million to Goldcorp Inc, according to sources and official documents seen by Reuters, escalating the situation into a showdown between the Mexican government and Canadian mining firms operating there. In a string of meetings, Canadian officials have pressed Mexico to fix the problem, which hamstrings mining companies' ability to invest in operations and is particularly difficult for smaller, cash-strapped miners and explorers, people familiar with the matter said. Click here to read full stories.

Jun 08 - Miners eye Europe's largest lithium deposit in Czech Republic 

Mining for lithium could start in the Czech Republic in two years, exploiting Europe's largest resource of the metal that is used in batteries for electric vehicles and home power storage. The deposits lie around Cinovec, a village with a tradition of mining since the 14th century and situated near the border with Germany, the industrial powerhouse at the heart of Europe's bid to build electric cars and develop battery technology. Click here to read full stories.

Jun 08 - A clash of new and old for the lost heart of metals trading?: Andy Home 

Is a showdown looming in the world of industrial metals trading? It would, at first glance, seem that way.In the red (-leather seat) corner sits the London Metal Exchange (LME), the 140-year-old incumbent, still dominant in terms of global price-setting but recently showing signs of wobbly frailty. Click here to read full stories.

Jun 08 - ICE expands London gold contract ahead of LME's rival offering 

Intercontinental Exchange (ICE) has substantially expanded the range of dates that its London gold futures contract can be traded, as it seeks to beat rival exchanges to gain a foothold in the city's $5 trillion-a-year bullion market. ICE said that from May 22 its daily futures contract could be traded on dates up to three months into the future. Previously it could be traded only two days ahead of settlement. Click here to read full stories.

Jun 08 - Heavy rains in northern Chile hit major copper operations 

Mines in northern Chile have suspended key operations after heavy rains lashed the high altitude desert region of Antofagasta overnight and into Wednesday, companies told Reuters. BHP Billiton's Escondida, the world's biggest copper mine, said it was snowing and all operations had been suspended. Click here to read full stories.

Jun 08 - Australia trade surplus walloped by bad weather 

Australia's trade surplus collapsed in April as damage wreaked by a massive cyclone in Queensland almost halved exports of coal, underlining the risk of another round of disappointing economic growth. The blow comes just a day after data showed the economy grew at the slowest annual pace since 2009 in the March quarter, again due in large part to the vagaries of the weather. Click here to read full stories.

Jun 08 - China May iron ore imports recover from six-month low 

China's iron ore imports rose 5.5 percent in May from a year earlier, recovering from a six-month low in April, as mills in the top steelmaking nation scooped up more raw material as they posted strong profits. Imports of iron ore last month reached 91.52 million tonnes, according to data from the General Administration of Customs on Thursday, up from 86.75 million tonnes a year ago and April's 82.23 million tonnes, the lowest since October 2016. Click here to read full stories.

Jun 08 - Anglo American names Stuart Chambers as next chairman 

Anglo American has appointed Stuart Chambers, the former chairman of British chip designer ARM Holdings and packaging group Rexam, to succeed John Parker as the miner's next chairman and carry on with its overhaul. Chambers will join as non-executive director and chairman designate on Sept. 1 before becomingchairman on Nov. 1, Anglo said in a statement.  Click here to read full stories.

Jun 08 - Capital expenditure by top global miners at record low - report 

Large global mining companies have cut back on investments despite a turnaround in profitability and a spike in commodity prices, a PricewaterhouseCooper's (PwC) report revealed on Wednesday. Capital expenditure, an measure of confidence in future returns, fell 41 percent in 2016 to a record low of $50 billion. Click here to read full stories.

Jun 08 - Peru relaxes air quality standards to help mining industry 

Peru adopted new and more flexible air quality standards on Wednesday after the old standards were criticized by mining companies and President Pedro Pablo Kuczynski. A decree published by the environment ministry raised the maximum amount of sulfur dioxide, a byproduct of smelting copper and other base metals, that can be emitted to 250 micrograms per cubic meter per 24 hours, from the 20 micrograms per cubic meter previously. Click here to read full stories.

Jun 08 - Indonesia's Amman Mineral seeks to cut workforce by up to 20 pct 

Indonesian miner Amman Mineral Nusa Tenggara is planning to reduce its workforce by up to 700 workers, or 20 percent, offering benefits to those that voluntarily resign, a company executive and government official told reporters on Wednesday. Amman is a unit of oil and gas company Medco Energi Internasional, which bought the Batu Hijau copper mine in West Nusa Tenggara from Newmont Mining Corp last year. Click here to read full stories.

Jun 08 - S.Africa mining industry to consider legal options if charter revisions onerous 

Delayed revisions to South Africa's Mining Charter, which sets industry targets for black ownership and participation in the sector, will face legal challenges if it is unacceptable to producers, the CEO of the Chamber of Mines said on Wednesday. "If the outcome is an outcome which is unacceptable to the industry then clearly we will consider our legal options," Roger Baxter told an industry conference in Johannesburg. Click here to read full stories.

Jun 07 - Qatar's aluminium exports blocked, Norsk Hydro seeking other routes 

Qatar's isolation by top Arab nations has already hit aluminium exports from a plant part-owned by Norway's Norsk Hydro which warned on Tuesday it would take time to restart them. Saudi Arabia, Egypt, the United Arab Emirates and Bahrain on Monday cut ties with Qatar which denounced the move as predicated on lies about it supporting militants. Qatar has often been accused of being a funding source for Islamists, as has Saudi Arabia. Click here to read full stories.

Jun 07 - Egypt imposes tariffs on Chinese, Turkish, and Ukrainian steel - ministry 

Egypt has imposed temporary import tariffs on rebar steel from China, Turkey and Ukraine to protect local manufacturers suffering from losses, the trade ministry said in a statement on Tuesday. The tariff will be set at 17 percent for Chinese steel, 10-19 percent for Turkish steel, and 15-27 percent for Ukrainian steel, it said. Click here to read full stories.

Jun 07 - Rio Tinto, China's Minmetals sign deal on exploration 

Rio Tinto and China Minmetals Corp on Tuesday signed an outline deal on collaboration in mineral exploration, saying the partnership would position it to find the reserves needed for today's economy. Major miners have been seeking ways to maximise exploration budgets and they have also been analysing the sustainability of their portfolios as the needs of China, the world's biggest commodity consumer, change as its economy matures. Click here to read full stories.

Jun 07 - Brazil's Usiminas, Porto Sudeste settle $62.5 mln port dispute 

A unit of Brazilian steelmaker Usinas Siderúrgicas de Minas Gerais SA has ended an arbitration case with Porto Sudeste do Brasil SA that centered around access to a key shipping hub in Rio de Janeiro state. Under the terms of the agreement, which were unveiled in a securities filing on Tuesday, Porto Sudeste will pay $62.5 million to Mineração Usiminas SA to end the dispute. Click here to read full stories.

Jun 07 - New firm NFEx aims to challenge LME's base metals trading 

A new company, NFEx Markets, is seeking to challenge the London Metal Exchange's (LME) dominance in industrial metals with plans to launch a trading platform in the first quarter of next year. NFEx will mimic the forward contracts of the LME, which has seen its market share eroded in recent years, in an attempt to attract physical trade, the new company said on Monday. Click here to read full stories.

Jun 07 - Peru miner Volcan seeks copper opportunities to diversify 

Volcan, Peru's largest producer of silver and zinc, seeks new opportunities in copper projects to diversify its operations and is also evaluating acquisitions, an executive said on Tuesday. Among the company's plans, Jose Montoya, manager of corporate development, highlighted the Chumpe and Carhuacayán porphyry copper projects in Junin region as well as copper and gold project Rica Cerreña in Pasco. Click here to read full stories.

Jun 07 - South Africa's mining charter to become law next week - minister 

South Africa's new mining charter, which sets industry targets for black ownership and participation in the sector, will be gazetted and become law next week, Mineral Resources Minister Mosebenzi Zwane said on Tuesday. The mining industry has complained that it has not been consulted enough about the revisions and that South Africa's mining industry is losing investment as a result. Click here to read full stories.

Jun 07 - Buenaventura's Tambomayo Peru mine to operate commercially in August 

The Peruvian mine Tambomayo will start commercial production in August and hopes to produce 60,000 to 90,000 ounces of gold by year-end, Victor Gobitz, CEO of Buenaventura, which operates the mine, said on Tuesday. Tambomayo is considered a low-cost mine with a $362 million investment and expected full-year annual production in future years of 150,000 ounces. Click here to read full stories.

Jun 06 - Nickel facing a long and rocky road to price recovery: Andy Home 

Nickel touched a near one-year low of $8,700 per tonne on the London Metal Exchange (LME) last week. It has recovered a little to $8,900 this morning but that still makes it by some margin the worst performer among the major LME-traded industrial metals with a year-to-date decline of over 10 percent. Click here to read full stories.

Jun 06 - Italy backs ArcelorMittal bid for polluted Ilva steel plant 

The Italian government supports a joint bid by ArcelorMittal and Marcegaglia group for the polluted Ilva steel plant in southern Italy, the Industry Ministry said on Monday. Industry Minister Carlo Calenda has signed a decree backing the 1.8 billion euro ($2 billion) offer from the world's largest steelmaker and Marcegaglia for Europe's biggest steel plant by output capacity, the ministry said in a statement. Click here to read full stories.

Jun 06 - North American steel groups want stronger NAFTA rules of origin 

Steel trade groups representing Canada, the United States and Mexico said that any upgrade to the North American Free Trade Agreement (NAFTA) should require that manufacturers use more steel produced in the region in their products. The rules of origin, which stipulate that products must meet minimum NAFTA-wide content requirements to be tariff-free, are seen as a sensitive area of discussion once negotiations to revamp the trilateral treaty kick off in August. Click here to read full stories.

Jun 06 - Japan's Sumitomo Metal to buy stake in Canada gold project for $195 mln 

Japan's Sumitomo Metal Mining Co on Tuesday said it had agreed to take a 27.75-percent interest in a Canadian gold mining project from Toronto-based IAMGOLD Corp for $195 million.The purchase of the stake in the Cote Gold Project in Ontario comes as Japan's biggest gold miner looks to boost its output through acquisitions and exploration.  Click here to read full stories.

Jun 06 - Russia's Polyus tests markets with London and Moscow share sales 

Russia's top gold producer Polyus will offer new and existing shares in a secondary share offering in both London and Moscow, it said on Monday, in a deal that will test investor appetite for Russian assets.Polyus delisted from the London Stock Exchange in late 2015 after Western sanctions over Moscow's role in the Ukraine crisis began to bite for Russian companies. However it returns to London, buoyed by an 11 percent rise in global gold prices this year and by a separate $887 million deal to sell 10 percent of the company to a Chinese consortium led by Fosun International. Click here to read full stories.

Jun 06 - Poland's KGHM on track for rise in core profits this year - CEO 

Polish copper miner KGHM is well on track to increase its earnings before interest, tax, depreciation and amortisation (EBITDA) this year amid rising copper prices, which are likely to average over $5,000, the company's chief executive said. "I think that the worst time for copper producers is behind us," Radoslaw Domagalski-Labedzki told Reuters. Click here to read full stories.

Jun 06 - New firm NFEx Markets aims to win base metals trading business 

A new company, NFEx Markets, plans to launch a base metals tradingplatform in the first quarter of next year that will mimic the London Metal Exchange's (LME) forward contracts, in an attempt to attract physical trade, the company said on Monday. NFEx, incorporated in March this year and with registered offices in London's financial district, will operate the digital platform built by Autilla, a financial technology firm operating in commodities. Click here to read full stories.

Jun 06 - Asanko says liquidity likely to be over $100 mln by 2nd-qtr 2018 

Asanko Gold Inc said it could bolster its liquidity position to over $100 million by the second quarter of 2018, days after short seller Muddy Waters said the Canadian gold miner would run out of cash by next year. Asanko outlined a plan on Monday for the expansion of its gold mine in Ghana, which includes the large Esaase deposit.  Click here to read full stories.

Jun 06 - India's May gold imports surge four-fold from year ago - GFMS 

India's gold imports in May surged fourfold from a year ago to 103 tonnes as jewellers increased purchases to replenish inventory and stock up ahead of a new national sales tax, provisional data from consultancy GFMS showed. The rise in imports by the world's second-biggest consumer of the precious metal will likely support global prices that are near their highest in six weeks, but could widen the South Asian country's trade deficit. Click here to read full stories.

Jun 06 - Canada's Osisko enters mining finance big leagues with Orion buy 

Canada's Osisko Gold Royalties Ltd said on Monday it had agreed to buy a precious metals portfolio from U.S. private equity firm Orion Mine Finance Group for C$1.13 billion ($839.40 million), sending its shares up 10 percent. The transaction is "transformative" for Quebec-based Osisko as it increases its portfolio of producing diamond, gold and silver assets to 16 from five, Eight Capital analyst Josh Wolfson said in a note to clients. Click here to read full stories.

Jun 06 - Abitibi Royalties sees gold rangebound, upper limit of $1,425 

The gold price is likely to stay range-bound over the next year, with an upper price of around $1,425, barring any major financial shock, the head of Canadian gold company Abitibi Royalties said. CEO Ian Ball's view sets him at odds with his mentor and renowned gold bull Rob McEwen, of McEwen Mining, for whom Ball worked for a decade. Click here to read full stories.

Jun 05 - EU, China fail to agree on steel, trade dumping at summit 

The European Union and China failed on Friday to reach agreement on the problem of steel overcapacity and the EU's stance towards Chinese dumping, despite "narrowing differences". China, the world's biggest producer and consumer of steel, vowed last year to reduce its capacity but European steelmakers have complained that cheap Chinese exports are still flooding the market. Click here to read full stories.

Jun 05 - BHP CEO says he has not met with Elliott since Barcelona 

BHP Billiton Chief Executive Andrew Mackenzie said on Monday he has not met with activist hedge fund Elliott Management since their talks in Barcelona last month and declined to comment on whether another meeting was scheduled. Elliott, a New York-based fund that has built up a 4.1 percent stake in BHP, is pushing a three-point plan to collapse the company's dual-listed structure, spin off its oil and gas assets in the United States, and boost returns to shareholders - all of which BHP has rejected.  Click here to read full stories.

Jun 05 - Pakistan to open up mineral-rich Baluchistan to China "Silk Road" firms 

Pakistan's resource-rich Baluchistan province wants Chinese companies to kick-start a boom in its mining industry by including the sector into Beijing's "Belt and Road" initiative, a senior provincial mining official said. Beijing has pledged $57 billion for the China-Pakistan Economic Corridor (CPEC), a flagship "Belt and Road" project that first focused on Chinese firms building roads and power stations but is now expanding to include setting up industries. Click here to read full stories.

Jun 05 - Russia's Polyus raises 2018-2019 gold output forecast

Russia's largest gold producer Polyus  said on Monday it raised its previously announced production forecast to 2.35—2.4 million troy ounces in 2018 and 2.8 million ounces in 2019 compared with 2.1 million ounces in 2017. Polyus also said that its board of directors had preliminary approved a regular dividend payment of $254 million for 2016 and a special dividend payment of $100 million thanks to a successful sale of the company's share in Nezhdaninskoe field. Click here to read full stories.

Jun 05 - China says 31 nationals detained in Zambia for illegal mining 

Zambia has detained 31 Chinese nationals for illegal mining in the African country's copper belt but has failed to provide strong proof of their crimes, a senior Chinese diplomat said as he lodged a complaint. Lin Songtian, the Chinese Foreign Ministry's director-general for African affairs, told a Zambian diplomat in Beijing that China understands and supports actions to crack down on illegal mining, the ministry said in a statement late on Sunday. Click here to read full stories.

Jun 05 - China's Shandong Gold Mining to seek loans to buy Barrick mine stake 

Shandong Gold Mining Co Ltd plans to apply for loans worth up to $1.26 billion via its unit to fund the acquisition of a stake in Barrick Gold Corp's mine in Argentina, the Chinese precious metal producer said on Friday. The Chinese producer's unit Shandong Gold Mining (Hong Kong) Co Ltd would apply for the loans from offshore units of two Chinese state-owned banks, it said in a statement. Click here to read full stories.

Jun 05 - Speculators lift bullish COMEX gold stance for 2nd straight week - CFTC 

Hedge funds and money managers raised their net long position in COMEX gold for the second straight week, hitting the highest level in nearly a month, and also raised it in silver, U.S. Commodity Futures Trading Commission data showed on Friday. Money managers raised their net long position in bullion by 13,912 lots, to 131,572 lots in the week to May 30, the data showed. The boost came as prices rose about 1 percent during the period, as geopolitical concerns helped gold hover close to one-month peaks. Click here to read full stories.

Jun 05 - Ghana's 2016 gold output jumped 45 pct to 4.1 mln oz -report 

Ghana's gold output jumped 45 percent in 2016 compared to the previous year as new projects came online and activities expanded across the industry, the Ghana Chamber of Mines said in a report on Friday. Total gold output from Africa's second largest producer was 4.1 million ounces, the highest level in nearly 40 years, up from 2.8 million ounces in 2015, the report stated. Click here to read full stories.

Jun 05 - Congo businesses denounce 'unjust' taxes in copper-mining region 

The Chamber of Commerce in Democratic Republic of Congo has complained to the government about a worsening business climate in the country's copper-mining region, including what it says are unjustified duties on power imports. In a letter to the finance minister dated June 1, the chamber said Congo's customs agency has levied more than $300 million in penalties on mining companies for failing to declare electricity imports or making false customs declarations.  Click here to read full stories.

Jun 05 - U.S. diamond market slows versus 2016, India brighter-De Beers 

Indian diamond jewellery sales are rebounding after a fall of nearly 9 percent last year, while demand in the biggest market, the United States, has slowed in 2017 in line with muted economic growth, De Beers said on Friday. Broadly steady global diamond jewellery demand worth $80 billion in 2016 masked 4.4 percent growth in the United States and an 8.8 percent fall in India, where sales were disrupted by a jewellers' strike and a government decision to withdraw high-value bank notes. Click here to read full stories.

Jun 05 - India state of Odisha approves JSW Steel's $7.8 bln steel plant 

The Indian state of Odisha said on Friday it had approved a plan by JSW Steel to set up a 10 million tonnes a year steel plant costing about 500 billion rupees ($7.8 billion). JSW, which is India's biggest steelmaker by capacity and produces 18 million tonnes a year, has sought 4,500 acres of land which were earlier allotted to South Korea's Posco, Odisha state-chief secretary Aditya Prasad Padhi told Reuters. Click here to read full stories.

Jun 05 - Acacia Mining says would cost $30 mln to close Bulyanhulu mine 

Acacia Mining said on Friday it would cost about $30 million to put its Bulyanhulu mine in Tanzania under care and maintenance as an export ban on the miner's metals weighed. Shares in the unit of Barrick Gold rose 4.7 percent after the company stuck to its full-year production guidance despite the ban. Click here to read full stories.

Jun 02 - Coking coal price talks stall as steelmakers, miners spar on contract terms 

Talks between Australian miners and Japanese steelmakers over coking coal supplies have stalled as the Japanese companies are pushing to move to more flexible arrangements from the current quarterly fixed-price terms. The Japanese are backed by BHP, the world's biggest producer of coking coal, a key steelmaking ingredient. However, other miners are against upending the 45-year-old fixed price settlement mechanism. Any changes could potentially further roil a market hit by wild swings recently. Click here to read full stories.

Jun 02 - EU urges U.S. to limit national security probe on steel 

The European Union warned the United States on Thursday that its investigation into U.S. steel imports should be limited to issues of national security and not result in unjustified, sweeping measures on exporting nations. President Donald Trump launched a trade investigation in April against China and other exporters of steel into the U.S. market, under a law that allows presidents to impose restrictions on imports for reasons of U.S. national security.  Click here to read full stories.

Jun 02 - BHP says restarts Australia iron ore mine after fire 

Iron ore mining restarted on Friday at Australia's Mt Whaleback mine following a fire on Thursday, owner BHP said. "Mining at Mt Whaleback resumed at full capacity this morning and processing has resumed in areas unaffected by the incident," a company spokeswoman said. Click here to read full stories.

Jun 02 - Asanko Gold stock slides as investors weigh stock short 

Asanko Gold Inc shares closed nearly 8 percent lower on Thursday after whipsawing between gains and losses during the session, as investors weighed hedge fund Muddy Waters' short bet against the stock with rebuttals by the company and equity analysts. The most active equity on the Toronto Stock Exchange, with more than 19 million shares trading hands, Asanko ended at C$2.02, modestly recovering from a 20 percent plunge after markets opened. Click here to read full stories.

Jun 02 - Chile eyes construction of new copper smelter 

Chilean President Michelle Bachelet said Thursday that she had asked state mining organizations including top producer Codelco to look at the possibility of building a new copper smelter to add value to copper exports. "I have asked (the organizations) to begin a study together to establish a new smelter in the region of Atacama that will be at the vanguard of clean technology," said Bachelet, as she gave her annual state-of-the-nation address to Congress. Click here to read full stories.

Jun 02 - Russian goldminer Polyus says to increase free float for shares 

Russia's top gold producer Polyus is committed to increasing its free float to at least 10 percent and obtaining a listing in London, Chief Executive Pavel Grachev told Reuters in an interview. "We have always said we will aim to meet the Moscow Exchange requirement of at least 10 percent of the free float," Grachev said. The company's free float currently stands at 6.7 percent, he added. Click here to read full stories.

Jun 02 - Voestalpine says political risks complicate outlook 

Voestalpine's first-half earnings should rise strongly but political uncertainties in the United States, Europe and Brazil made it difficult to give a second-half forecast, the Austrian steelmaker said on Thursday. Its 2017-18 financial year that began in April got off to a strong start with higher demand from various industries thanks to a stable Chinese economy, a recovery in Europe and new projects in emerging markets, the Linz-based company said. Click here to read full stories.

Jun 02 - Argentina to sign mining agreement Monday; taxes undefined -minister 

Argentina's government will sign an agreement with provincial governors on Monday to unify some policies regulating the mining sector, Energy and Mining Minister Juan José Aranguren told Reuters on Thursday. Tax rates still need to be negotiated between companies and provinces, Aranguren said. The deal would also need to be approved by the country's opposition-controlled Congress before taking effect. Click here to read full stories.

Jun 02 - Botswana Lerala Diamond Mine shuts down - newspaper 

Australia's Kimberley Diamond Ltd (KDL) has shut its Lerala Diamond Mine in Botswana citing weak market conditions, leaving 130 workers unemployed, a local newspaper reported Thursday. Botswana Mine Workers Union national organising coordinator, Abel Buka told Mmegi Newspaper that Kimberley had briefed workers in a letter that it was closing operations after failing to agree a funding deal with a Chinese financier. Click here to read full stories.