BASE METALS HIGHLIGHTS: Top Stories Of The Day
First Published Thursday, 26th April 2012 07:34 pm - © 2012 Dow Jones
Polish KGHM Considering Relisting International Unit In 2014
WARSAW -(Dow Jones)- Polish mining company KGHM Polska Miedz SA (KGH.WA) is aiming to relist its newly acquired international unit in 2014, Chief Executive Herbert Wirth said Thursday.
WSJ: Indian Firms Aim To Bid For Afghan Mines
NEW DELHI (Dow Jones)--A consortium of Indian state-owned companies is on a short list to bid for copper and gold projects in Afghanistan, a move likely to raise tensions among Pakistani authorities already jittery about New Delhi's growing role in the country.
STORIES OF INTEREST
Brazil Vale May Exceed $21.4 Billion In Planned CapEx In 2012
RIO DE JANEIRO (Dow Jones) -- Brazilian mining company Vale SA (VALE, VALE5.BR) said Thursday it may spend more than the $21.4 billion it is scheduled to invest this year, more than half of which will be for bringing new projects into production.
Brazil Vale CEO: 'Concerned' On Argentina After YPF: 'Analyzing' Rio Colorado
RIO DE JANEIRO (Dow Jones)--Brazilian mining company Vale SA (VALE, VALE5.BR) is "very concerned" about the political and institutional situation in Argentina following that country's decision to expropriate part of oil company YPF SA (YPF, YPFD.BA), and is "analyzing the merits" of its Rio Colorado potash project in Argentina as a result, CEO Murilo Ferreira said Thursday.
African Eagle Resources Chairman Euan Worthington Resigns From The Board
LONDON (Dow Jones)--African Eagle Resources PLC (AFE.LN), a junior mining company, said Thursday Euan Worthington, chairman; Mark Parker, founder and managing director; and Chris Davies, operations director, have resigned from the board following its general meeting on April 24.
Brazil Vale: Iron Ore Prices 'In Transition' After Contract Changes
RIO DE JANEIRO (Dow Jones)--Global iron-ore prices are currently "in transition" following recent changes in contract pricing, Jose Carlos Martins, ferrous and strategies director of Brazil's Vale SA (VALE, VALE5.BR), said Thursday.
Vale CEO: 'Many Doubts' On Investing In Guinea With New Mineral Law
RIO DE JANEIRO (Dow Jones)--Brazilian mining company Vale SA (VALE, VALE5.BR) has "many doubts" on making investments in Guinea following the introduction of a new mineral royalties regime in the west African nation, CEO Murilo Ferreira said Thursday.
Brazil Vale 1Q Performance 'Below What We Expected' - CEO
RIO DE JANEIRO (Dow Jones)--Brazilian mining company Vale SA (VALE, VALE5.BR)'s first-quarter result was "below what we expected", but the company is confident it will recoup shipments and performance during 2012, Chief Executive Murilo Ferreira said Thursday.
Glencore Signs $12.8 Billion Revolving Credit Facilities
LONDON (Dow Jones)--Glencore International PLC (GLEN.LN), an integrated producer and marketer of commodities, said Thursday it signed revolving credit facilities totaling $12.8 billion, which renew Glencore's existing revolving credit facilities.
Zijin Mining First-Quarter Net Profit Drops 23% To CNY1.07 Bln
SHANGHAI (Dow Jones)--Zijin Mining Group Co. (2899.HK) said Thursday its net profit fell 23% in the first quarter, dragged down by higher gold prices and subdued demand for the company's products amid global macroeconomic uncertainty and inflation concerns.
2nd UPDATE:Kazakhmys On Track To Meet Copper Target Despite Harsh Winter
MADRID (Dow Jones)--Kazakhstan's largest copper miner, Kazakhmys PLC (KAZ.LN), Thursday reaffirmed that it's on track to meet its full-year copper output despite an extremely harsh winter that resulted in lower copper output during the first quarter.
UPDATE: Rusal Aims To Triple Aluminum Sales To China Via Trading JV With Norinco
SHENZHEN (Dow Jones)--Russian aluminum producer United Co. Rusal PLC (0486.HK) hopes to triple its aluminum sales to China in the long run through a trading joint venture with China's state-owned China North Industries Corp., or Norinco, an executive said Thursday.
IAI: March World Aluminum Stocks -65,000 Tons At 2.324M Tons
LONDON (Dow Jones)--Total world aluminum inventories in March fell 65,000 metric tons to 2.324 million tons, according to figures released Thursday by the International Aluminum Institute.
Sable Mining: Credit Suisse Group No Longer Holds Notifiable Interest
LONDON (Dow Jones)--Sable Mining Africa Ltd (SBLM.LN), a resource company, said Thursday that on April 25, following a disposal of 53.1 million ordinary shares in the company on April 23, Credit Suisse Group AG no longer holds a notifiable interest in Sable Mining.
ILZSG: Refined Zinc Market Seen In 249,000-ton Surplus In 2012
LONDON (Dow Jones)--The global refined zinc market should record a surplus of 249,000 metric tons in 2012, the International Lead and Zinc Study Group said Thursday.
ECR Minerals Requests Temporary Suspension Of Trading In Shares
LONDON (Dow Jones)--ECR Minerals PLC (ECR.LN), confirmed Thursday that it has received assay results in respect of some holes of the El Abra program, and said it has requested a temporary suspension of trading in the company's shares pending an announcement.
ILZSG: Refined Lead Market Seen In 144,000-ton Surplus In 2012
LONDON (Dow Jones)--The global refined lead market should record a surplus of 144,000 metric tons in 2012, the International Lead and Zinc Study Group said Thursday.
Nickel Market In Surplus For Next Two Years -Macquarie
SINGAPORE (Dow Jones)--The nickel market will remain in oversupply for the next two years, and producers should adjust output in order to support prices, analysts with Macquarie Bank said in a report Thursday.
Watchdog Says Congo's Tenke Fungurume Not Done Enough For Community
JOHANNESBURG (Dow Jones)--Shareholders in the Tenke Fungurume copper mine in Congo haven't done enough to fulfill their community obligations, Johannesburg-based non-profit Southern Africa Resource Watch said Thursday.
Herencia Resources Managing Director Bohm Quits, Sloane Replaces
LONDON (Dow Jones)--Chile-focused miner Herencia Resources PLC (HER.LN) said Thursday that Managing Director Michael Bohm is stepping down for personal reasons and is expected to leave the company on June 30.
Berkeley Resources Names Ian Middlemas Non-Exec Chairman,$1.5M Placing
LONDON (Dow Jones)--Berkeley Resources Ltd. (BKY.AU), an exploration and development mining group, said Thursday it has appointed Ian Middlemas nonexecutive chairman of the company and Robert Behets nonexecutive director effective April 27, and will undertake a placing of shares to them raising $1.5 million for the company.
Eramet Sees 1H 2012 Current Operating Profit Lower Than 1H 2011
PARIS (Dow Jones) -- French mining group Eramet SA (ERA.FR) Thursday said it expects its first-half current operating profit to be lower than a year earlier as average nickel and manganese prices since the beginning of the year have remained at lower levels than the average for 2011.
BASE METALS: Copper Extends Rally On US Data, Equity Gains
NEW YORK (Dow Jones)--Copper futures locked in a three-day winning streak Thursday, buoyed by improved U.S. home sales data, a weaker dollar and a firmer tone to U.S. equities.