BASE METALS HIGHLIGHTS : Top Stories Of The Day
05/11/2012| 03:01pm US/Eastern
UPDATE: Kazakhmys Chairman To Step Down But Remain On Board
The chairman of Kazakhstan's largest copper producer, Kazakhmys PLC (>> Kazakhmys plc), said Friday he will step down as chairman by the next annual general meeting but will remain on the board as a nonexecutive director.
STORIES OF INTEREST
Glencore's Buy Of Viterra Positive For Saskatchewan -Govt Report
Glencore International PLC's (>> Glencore International Plc) planned acquisition of Viterra Inc. (VT.T) will improve Saskatchewan's strategic place in the world grain market, and boost investment and jobs in the province, a study commissioned by the province concluded Friday.
LME: Delists Facilities In Johor And Liverpool
The London Metal Exchange said Friday it has delisted a storage facility in Johor, Malaysia, and a warehouse in Liverpool in the U.K.
UPDATE: Japan 3Q Aluminum Premiums To Rise - Norsk Hydro Exec
SINGAPORE (Dow Jones)--Japan aluminum premiums will likely rise in the third quarter of 2012 as tightening supply and strengthening demand lend support to the physical market, a senior executive at Norsk Hydro ASA (NHY.OS) told Dow Jones Newswires Friday.
Russia Jan-March Copper, Nickel Exports Up On Year
MOSCOW (Dow Jones)--Russia exported 69,600 metric tons of copper in January-March, 66.1% more than in the corresponding period last year, the federal customs service reported Friday.
Russia Jan-March Aluminum Exports Up 0.6% On Year
MOSCOW (Dow Jones)--Russia exported 836,800 metric tons of primary aluminum in January-March, 0.6% more than in the corresponding period last year, the federal customs service reported Friday.
Russia Jan-March Ferrous Metals Exports Up 17.6% On Year
MOSCOW (Dow Jones)--Russia exported 9.693 million metric tons of ferrous metals in January-March, 17.6% more than in the corresponding period last year, the federal customs service reported Friday.
UPDATE: Indonesia Finance Min: Plan To Tax More Mineral Exports
JAKARTA (Dow Jones)--Indonesia will add to a list of 14 mineral ores that are subject to a new export tax, Finance Minister Agus Martowardojo told Dow Jones Newswires on Friday.
Qatar Investment Authority Raises Xstrata Stake To 8.289%
LONDON (Dow Jones)--LONDON (Dow Jones)--Qatar Investment Authority, owner of Qatar Holding LLC, said Friday it bought 2.85 million shares in diversified mining group Xstrata PLC (>> Xstrata PLC) at 926 pence, lifting its total holding to 248.9 million shares, or 8.289%.
Zambia Says Kafue Hydro Plant On Course To Power New Copper Mines
ADDIS ABABA, Ethiopia (Dow Jones)--Zambia's 750-megawatt Kafue Gorge power station is on course to start powering new mines in Africa's top copper producer by 2017, the country's trade and commerce minister told Dow Jones Newswires Friday.
Noventa Starts Processing Ore At New Marropino Plant, Raises $23M
LONDON (Dow Jones)--Noventa Ltd. (>> Noventa Ltd.), a firm engaged in producing tantalum concentrate, Friday said it started processing ore through its new processing plant at Marropino mine on May 4, and added that it has raised a total of $23 million via a loan agreement and placing of new ordinary shares.
BASE METALS: Copper Futures Settle At Two-Week Low
NEW YORK (Dow Jones)--Copper prices pared their losses Friday on upbeat U.S. economic data, but futures still settled at their lowest level in more than two weeks on renewed concerns about China's economic slowdown and ongoing worries about Europe.
-By Tatyana Shumsky, Dow Jones Newswires; 212-416-3095; firstname.lastname@example.org