Base Metals

New Anglo zinc deposits in Southern Africa

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Anglo American says it has found a new zinc deposits near its Skorpion mine in Namibia and the Gambsberg deposit in South Africa.

Rio’s China iron ore talks suspended

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Global miner Rio Tinto has ceased iron ore price talks with Chinese customers, but it denied a media report the talks had ended because of the detention of its negotiators.

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.