Reuters

Half of Rio's Rossing Namibia workers strike -union

Around half of Rio Tinto's Rossing Uranium workers are taking part in a strike that is hitting production at its mine in Namibia, the union involved said on Saturday, also countering company claims that some of the mine was still working.

Coal shares fall as Alpha, Walter cut outlooks

Coal miner Alpha Natural Resources Inc (ANR.N) cut its 2011 shipment forecast, citing reduced demand from the key Asian steel market among other things, sending its shares down 10 percent and dragging down the whole sector. The news came as another major coal producer, Walter Energy (WLT.N) (WLT.TO), lowered its sales forecast for the second half of this year, because of weather and problems at some of its mines. Walter's stock dropped 10.1 percent to $67.42 and Alpha shares were down 12.1 percent at $23.65 on Wednesday afternoon on the New York Stock Exchange. Arch Coal (ACI.N) shares were down 8.8 percent at $16.44 and Peabody Energy (BTU.N) stock was down 4.6 percent at $40.91.

Mwana Africa's Zimbabwe mine gold output tops target

Gold miner Mwana Africa's Zimbabwe mine output has risen to a monthly average of 4,500 ounces, outstripping its targeted annual production rate, company executives said on Friday

Copper gains, EU finance ministers' meeting eyed

Copper rose on Friday, building on strength gained from the previous session after a funding plan for banks allayed fears over Europe's festering debt crisis, but the region's financial problems were expected to keep weighing on prices.

Norilsk Nickel approves buyback of own shares

The board of Norilsk Nickel , the world's largest nickel and palladium producer, approved on Tuesday a public buyback of its shares at $306 per ordinary share and $30.6 per ADR.

Gold dragged down by dollar spike, profit-taking

Gold slid on Friday, closing its worst week since June, as profit-taking by investors and a spike in the U.S. dollar outweighed the desire for a safer haven. Gold tumbled in early U.S. hours on apparent investor liquidation, but clawed back much of its loss by mid-afternoon as the resignation of European Central Bank policymaker Juergen Stark reignited aversion to riskier assets. But even as US stocks fell nearly 3 percent and other commodities tumbled, gold came under renewed pressure as two weeks of extreme volatility for bullion rattled some confidence in its bull run -- despite the prospect of a second recession.

CNOOC says Canada court gives green light to Opti deal

China's top offshore oil producer CNOOC Ltd said a Canadian court had approved its acquisition of struggling oil sands company Opti Canada Inc.

India's SAIL-led consortium bids for Afghan iron mines

A consortium of Indian steel and mining firms led by the Steel Authority of India Limited (SAIL) has bid for four blocks of mines in Afghanistan, SAIL said in a statement on Tuesday, proposing to set up a steel plant in the country.

Rio Tinto: world needs 800 mln more tonnes of iron ore over next 8 yrs

The world needs at least 100 million tonnes of additional iron ore supply each year for the next eight years to meet demand growth projections in steel making, miner Rio Tinto said on Thursday. At that rate, global iron ore production would almost double over the period, based on industry trade data -- largely covered in the early years at least by expansions underway among the major miners, including Rio Tinto.

NYMEX-U.S. crude ends shade lower, monthly decline sharp

US crude futures ended a choppy session slightly lower on Wednesday, slipping late as equities markets pared gains and as government data released earlier showing a big rise in crude oil stocks weighed on prices.

Australia's Whitehaven shares fall after stake selldowns

Private equity groups First Reserve Corp and AMCI International have sold A$390 million ($416 million) worth of shares in Australian miner Whitehaven Coal , which failed to find a buyer for the company this year.

Macarthur Coal backs sweetened Peabody, Arcelor offer

Australia's Macarthur Coal has backed a slightly sweetened A$4.9 billion ($5.2 billion) takeover offer from Peabody Energy and ArcelorMittal . Peabody and ArcelorMittal raised their offer by 3 percent to A$16 a share and will also add Macarthur's A$0.16 a share dividend, for a total offer value of A$16.16. Macarthur bowed to the higher offer after fending off four takeover attempts over the past three years.

Plains plans Tuesday restart for Alberta pipeline

Plains All-American Pipeline plans to restart its Rainbow oil pipeline in Alberta on Tuesday now that it has final regulatory approval after a four-month outage, the company said. Alberta's energy regulator said last week the company could restart the 187,000 barrel a day pipeline provided it met a number of conditions, including operating the line at 75 percent of its maximum pressure. The pipeline has been down since late April, when it ruptured and spilled 28,000 barrels of crude in a wilderness area near a native community.

US review to find Canada pipeline impact 'limited' – report

The U.S. State Department's final environmental review of a proposed Canada-to-Texas oil pipeline will affirm an earlier finding that the project will have "limited adverse environmental impacts," The Washington Post reported on Wednesday.

BHP plans rail line in threat to its biggest supplier

Global miner BHP Billiton is looking to build a new rail line between some of its inland Australian coal mines and the coast in a move that could threaten dominant coal haulage firm QR National, a newspaper said on Thursday.

Eurasian Natural Resources Corporation announces interim dividend

Eurasian Natural Resources Corporation announced that the Board has approved a 2011 interim dividend of $0.16 per share amounting to $206 million, which will be paid on October 6, 2011, to shareholders on the register at the close of business on August

Q+A-What happened to China's power shortages

Earlier this year, China warned that it could be facing its worst electricity shortages in years and that blackouts and power rationing could dent the economy over the summer. Experts said China's fixed pricing system was eating into margins and

Chilean miner Codelco sees higher profits in 2011

The world's top copper miner, Chile's Codelco, will likely post a bigger profit this year than in 2010, the chairman of the state-run company said on Friday.

METALS-Copper steady, caught between China and world economies

Copper steadied on Friday as prospects for stronger demand from top consumer China helped sustain prices, while a gloomy outlook for global economic growth and demand prevented gains.

North America base metal miners sink, gold miners rise

Shares of North American base metal miners tumbled on Monday along with the price of copper, zinc, and nickel after the downgrade of the U.S. credit rating by S&P amplified fears of a global economic slowdown.

Pricking the carbon finance bubble

Hazel Henderson writes for Reuters, after the first year of the Dodd-Frank reform in the USA, the too-big-to-fail financial bubble still looms. Missed by Frank-Dodd are the obsolete fossilized asset allocation models and Rigged Carbon Markets. An explosive new report from Carbon Tracker shows how these errors in asset valuation have saddled stocks and sovereign bonds with unrealistically over-valued fossil fuel reserves. These coal, oil and gas deposits carried on company and government books as "assets" may actually prove unmarketable and worthless!

South Africa gold mine strike over

A strike in South Africa's gold mining sector ended on Tuesday after a 2-year wage deal was clinched, unions and the Chamber of Mines said. The strike at AngloGold Ashanti , Gold Fields and Harmony began last Thursday and halted output worth up to $25 million a day at bullion's current record prices. About 100,000 gold mine workers will to return to work, starting with the Tuesday night shift. The companies' share prices extended gains on the news as gold scaled new highs over $1,635.00 an ounce on growing concerns about Europe's debt woes and anaemic U.S. growth data.

Reuters: Ukraine mourns after 37 die in mine accidents

Two separate accidents at mines in Ukraine have claimed the lives of 37 miners, Reuters reported Sunday: Rescue work ended on Sunday at two Ukrainian coal mines where accidents killed 37, and the former Soviet republic held a national day of mourning. An explosion in a mine in the Luhansk region early on Friday killed at least 26 people and injured two, according to an updated report on the Emergencies Ministry website. Also early on Friday, 11 miners died and four were injured at a state-owned mine in the neighbouring Donetsk region when a piece of heavy machinery collapsed.

FLSmidth wins order for a coal handling project in India

FLSmidth has been awarded a contract worth approximately EUR 25m (approximately DKK 180m) by Jhabua Power Ltd. for the supply and installation of the first phase of a 1,800 tons per hour coal handling plant for their upcoming power plant project at Jhabua in the state of Madhya Pradesh in central India

Brazil Q2 Vale iron output rises 6 pct yr/yr

Brazilian mining giant Vale (VALE5.SA) said on Thursday iron ore output rose 6 percent from the year before as the company boosted production at most of its mines in Brazil.