BASE METALS HIGHLIGHTS : Top Stories of the Day
07/13/2012| 05:13pm US/Eastern
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TOP STORIES
Moody's Downgrades Base-Metal Industry Outlook to Negative
Moody's Investors Service on Friday changed its outlook for the global base-metal industry to negative from stable, blaming a slowdown in economic growth.
Anglo American, Codelco Halt Legal Proceedings Until Aug. 24
LONDON--Anglo American PLC, a mining company, said Friday that it agreed with Chilean copper miner Codelco to extend the period for exploring the possibility of negotiating an agreement in relation to Anglo American Sur.
STORIES OF INTEREST
UK Judge Extends Hearing in Russian Billionaire Deripaska Case
LONDON--A U.K. judge has asked for another hearing before witness testimony begins in a case against Russian billionaire Oleg Deripaska that will look into detailed legal issues of what is being claimed and what the remedies would be.
Brazil 1H Aluminum Output 727,300 Tons, Up 2.5% On Year - Abal
RIO DE JANEIRO--Brazilian smelters produced 727,300 metric tons of primary aluminum in the first half, up 2.5% from the same period of 2011, the Brazilian aluminium association Abal said Friday.
UPDATE: Uganda Seeks To Send Troops to Congo Mineral Area As Fighting Spreads
KAMPALA, Uganda--The Ugandan army said Friday that talks are underway with the Congolese government to allow Ugandan troops to pursue Ugandan rebel dissidents in the mineral-rich but restive Eastern region, where rebel fighters have routed Congolese troops in recent weeks.
Kazakhstan Jan-June Zinc, Copper, Silver Output Up, Gold Down
MOSCOW--Kazakhstan produced in January-June 158,673 metric tons of zinc, 0.2% more than in the corresponding period last year, the state statistics agency reported Friday.
MARKETS
BASE METALS: China's GDP Report Lifts Copper Futures
NEW YORK--Copper prices burst out of the gates Friday, rallying more than 2.5% on hopes that Chinese authorities will ease their grip on lending after the latest economic data showed growth was slowing in the world's second-largest economy.
-By Tatyana Shumsky, Dow Jones Newswires; 212-416-3095; tatyana.shumsky@dowjones.com
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