BASE METALS HIGHLIGHTS : Top Stories Of The Day

05/03/2012| 03:34pm US/Eastern

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   TOP STORIES 
 
Antofagasta Copper Output Up But Suffers Esperanza Setback 

Chilean miner Antofagasta PLC (>> Antofagasta plc) said Thursday that first quarter copper production rose on year thanks to the ramp-up of its Esperanza mine, but fell on quarter after the mine suffered a glitch which will make it hard for miner to top the mine's previously-guided production range.

 
Chile Escondida Mine Not Affected By Contract Workers Protest -BHP 

Chile's Escondida, the world's largest copper mine, is "unaffected" by a contract workers' protest, controller and operator BHP Billiton Ltd. (BHP) said Thursday.

 
UPDATE: Indonesia To Impose 20% Tax On 14 Raw Mineral Exports From May 6 

The Indonesian government has decided to impose a 20% tax on the export of 14 raw minerals to encourage miners to build smelters in the country, a minister said Thursday.

 
   STORIES OF INTEREST 
 
EU Imposes Sanctions On Guinea-Bissau Coup Leaders 

BRUSSELS (Dow Jones)--The European Union has placed a travel ban and asset freeze on six people who led the recent coup in Guinea-Bissau, the European Council said Thursday.

 
Singapore Aluminum Premiums Rise; Financing Deals Drive Gains 

SINGAPORE (Dow Jones)--Singapore aluminum premiums have increased in the past few weeks amid tightening supply in Southeast Asia, as large volumes of the metal move into long-term financing deals.

 
EU Court Upholds Fines On Legris Industries Over Copper Fittings Cartel 

BRUSSELS (Dow Jones)--The European Union's top court said Thursday it has upheld a decision by the European Commission to impose a fine on French company Legris Industries and its subsidiary, Comap, for their participation in a copper fittings market cartel.

 
Rio Tinto CEO Confident Of Power Deal For Oyu Tolgoi Project 

MELBOURNE (Dow Jones)--Rio Tinto PLC's (RIO) chief executive said Thursday that he is confident a power-sourcing pact will be in place for the massive Oyu Tolgoi copper and gold project in Mongolia in time for it to begin production as scheduled next year.

 
Boliden Studies Aitik Expansion, New Copper Mineralisation 

STOCKHOLM (Dow Jones)--Swedish miner Boliden AB (>> Boliden AB) said Thursday it has launched a pilot study for a new expansion at the Aitik mine and is now also investigating the Laver deposit, a new copper mineralisation in Sweden.

 
Boliden Net Profit Rises On Higher Metal Prices 

STOCKHOLM (Dow Jones)--Swedish miner Boliden AB (>> Boliden AB) Thursday reported higher net profit for the first quarter as sales increased due to higher metal prices.

 
Alumina Producer Margins Hurt By Europe Crisis -Alumina CEO 

SYDNEY (Dow Jones)--Output cuts across Europe's aluminum industry are hurting short-term demand for alumina, a key ingredient in the lightweight metal, and driving producer margins lower, the chief executive of Alumina Ltd. (>> Alumina Limited) said Thursday.

 
   MARKETS 
 
BASE METALS: Comex Copper Falls As Demand Worry Continues 

NEW YORK (Dow Jones) -- Copper futures fell for a second day on Thursday, as investors bet that the global economy wasn't healthy enough to justify this week's four-week highs in prices for the industrial metal.

-By Matt Day, Dow Jones Newswires; 212-416-4986; matt.day@dowjones.com

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