* Aluminum hits 4-week high, inventories fall for 2nd day
* Weak dollar offers industrial metals support
* U.S. jobless claims fall for third straight week (Recasts with closing U.S. prices, comments; adds NEW YORK dateline/byline)
By Chris Kelly and Michael Taylor
NEW YORK/LONDON, [...]
04 Jun
Posted by admin as Copper Mining
* Reports first copper production at Las Cruces
* Says irc owns a 1.5% NSR royalty on the Las Cruces project
* Sees Las Cruces royalty generating approximately US$5.4 million in annual
royalty revenues
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Tags: Copper Mining
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LONDON - Copper fell more than 1 percent on Thursday as a spate of weak data kept demand concerns alive and tempered a recent pick-up in market sentiment.
Copper for three-months delivery on the London Metal Exchange was $4,885 a tonne in open outcry trade, from a close of $4,915 on Wednesday. It hit a [...]
EW YORK, June 4 (Reuters) - Midsession prices and market updates for New York precious metals and copper:
GOLD
* August GCQ9 up $11.20, or 1.2 percent, at $976.80 an ounce at 12:15 p.m. (1615 GMT) on the COMEX division of the New York Mercantile Exchange. [...]
NEW YORK, June 4 (Reuters) - Shares of U.S. aluminum producers soared on Thursday after the price of the metal rose more than 5 percent to its highest level in four weeks. Traders attributed the rise to a weaker dollar and a second day of decreased aluminum inventories. On [...]
SHANGHAI — The Chinese government’s largest ever investment in a Western company, a proposed $19.5 billion stake in the Australian-British mining giant Rio Tinto Group, collapsed early Friday, dealing a blow both to China’s global corporate ambitions and to its efforts to gain clout in the natural resources market.
The board of Rio Tinto announced [...]
04 Jun
Posted by admin as Aluminum
OKYO (MarketWatch) — Mining giant Rio Tinto said Friday that it’s decided to reject a $19.5 billion deal to sell part of itself to China’s Aluminium Corp. and announced the launch of a heavily discounted rights issue to raise about $15.2 billion in gross proceeds.
The deal with Aluminum Corp.(ACH 26.44, +0.24, +0.92%) , also [...]