Base Metals

Copper gains around 1%

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Copper futures rose 1% on Wednesday, reversing early losses in a choppy trading pattern that is set to continue as investors weigh increasingly positive data against fears the rally is overdone.

Exxaro shuns Corridor Sands

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UPDATED - Exxaro urgently needs to find extra feedstock for its KZN titanium smelters but the Corridor Sands heavy sands deposit in Mocambique does not fit the bill.

Copper entering a bull phase

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Copper prices will top $6,500/tonne in the fourth quarter of 2009 on the back of increased demand. The outlook for copper is bullish over the next three years.

Congo may renegotiate First Quantum deal

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Democratic Republic of Congo may review its decision to cancel a copper and cobalt project in which First Quantum Minerals is the majority stakeholder.

KGHM says plans for large output rise unrealistic

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Copper producer KGHM dropped plans to boost production by some 40% next year because it no longer planned to make a large acquisition of foreign deposits.

China saves face with Fortescue iron ore deal

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Fortescue Metals broke ranks to forge a slightly cheaper iron ore price with Chinese steel mills in exchange for up to $6 billion in funding, giving Beijing's beleaguered industry group a much-needed face-saving win.

Copper hits new 10.5-month high

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Copper prices rose to a new 10 and a half month high on Friday as hopes for an economic recovery held sway and overshadowed concerns prices had gone up too high too soon.

Confidence to thwart metal bulls

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The omens for industrial metals next year are not good because consumer and corporate confidence as well as demand could disappoint.

First Quantum ‘mystified’ by DRC licence loss

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First Quantum said it was mystified by a newswire story saying the Democratic Republic of Congo government had cancelled its $600m tailings treatment project.

Zambia asks mines to cut output

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Zambia asks mining firms to cut output as it tests a recently rehabilitated power plant.