BASE METALS HIGHLIGHTS : Top Stories Of The Day
05/02/2012| 03:17pm US/Eastern
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TOP STORIES
Rio Tinto Kennecott Shuts Down Copper Smelter In Utah
Rio Tinto Kennecott, a subsidiary of Rio Tinto PLC (RIO), has shut down its copper smelter for maintenance, the company told Dow Jones Newswires.
Southern Copper Maintains 2012 Production Guidance
Southern Copper Corp. (SCCO) said Wednesday it is maintaining its 2012 production guidance of 640,000 tons of copper.
Chile Cochilco Poll: Copper Seen Averaging $3.84/Pound In 2012
Copper likely will average $3.84 a pound this year, according to a poll of 21 local mining analysts published Wednesday by Chilean state copper studies commission Cochilco.
STORIES OF INTEREST
Brazil's EBX May Join Bidding For New Rio Iron Ore Port -Report
RIO DE JANEIRO (Dow Jones)--Brazil's EBX Group, owned by billionaire Eike Batista, may join the bidding for a new iron ore port area in Rio de Janeiro state, southeast Brazil, O Estado de S. Paulo newspaper said Tuesday, without saying where it got the information.
LME: Lists Special High Grade Zinc Brand HCM SHG 99.995
LONDON (Dow Jones)--The London Metal Exchange said Wednesday that is has approved the listing of special high grade zinc brand HCM SHG 99.995, with immediate effect.
LME: Lists 1 Warehouse In Malaysia, 2 In Vlissingen, 1 In Rotterdam
LONDON (Dow Jones)--The London Metal Exchange said Wednesday that it has listed one warehouse in Malaysia and three warehouses in the Netherlands.
Land, Branton-Speak Re-elected To LME Board
LONDON (Dow Jones)--The London Metal Exchange said Wednesday that James Land and Stephen Branton-Speak have been re-elected to the LME board.
UPDATE: Barrick Gold Hikes Dividend As 1Q Profit Edges Higher
(Dow Jones)--Barrick Gold Corp. (ABX) hiked its quarterly dividend 33% Tuesday as it reported first-quarter earnings edged up 3% on higher gold prices.
Southern Copper Corp's Peru Operations 1Q Net $294M Vs $239M
LIMA, Peru (Dow Jones)--Southern Copper Corp. (SCCO) said that its Peruvian operations had a first-quarter net profit of $294 million compared with $239 million in the same quarter a year earlier.
Southern Copper Corp 1Q Net $621.4 Mln Vs $478.4 Mln
LIMA (Dow Jones)--Southern Copper Corp. (SCC) said first-quarter net earnings rose to $621.4 million compared with $478.4 million a year earlier on increased sales.
UPDATE: Congo Says It Repelled CNDP Rebel Attack In Tin Mining Region
KAMPALA, Uganda (Dow Jones)--Congo's government said Wednesday its troops had repelled a CNDP rebel attack in the tin mining province of North Kivu, as Africa's largest tin producer seeks to restore calm to the region.
Peru Tin Mining Co Minsur 1Q Net PEN94.1Mln Vs PEN129.7Mln
LIMA (Dow Jones)--Peruvian tin mining company Compania Minera Minsur SA (MINSURI1.VL) said first quarter net income fell to 94.1 million soles ($35.6 million) from PEN129.7 million in the same quarter a year earlier.
Peru's Volcan SAA 1Q Net Income $70.8Mln Vs $76.2Mln
LIMA (Dow Jones)--Higher costs and lower prices for lead and zinc helped pushed down Volcan Compania Minera SAA's (VOLCABC1.VL) first-quarter net income to $70.8 million, compared with $76.2 million in the same period a year earlier.
Ivanhoe Mines Names New Executives Following Rio Tinto Deal
Ivanhoe Mines Ltd. (IVN) said it has named Kay Priestly as chief executive to succeed company founder Robert Friedland who stepped down last month as part of a sweeping deal with majority shareholder Rio Tinto PLC (RIO) for funding of the massive Oyu Tolgoi copper project in Mongolia.
Russia Jan-March Stainless Steel Products Imports Up 45.6% On Year
MOSCOW (Dow Jones)--Russia's stainless steel products imports increased by 45.6% in January-March, compared with the same months in 2011, to 1,939 metric tons, the national association of special steels producers Spetsstal reported Wednesday.
MARKETS
BASE METALS: Gloomy Global Data Snaps Copper's Winning Streak
NEW YORK (Dow Jones)--Copper futures fell on Wednesday, snapping a streak of six sessions of gains, as gloomy global economic data hit the demand outlook for the industrial metal.
-By Matt Day, Dow Jones Newswires; 212-416-4986; matt.day@dowjones.com
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