Reuters

Shanduka seeks higher stake in coal

South Africa's Shanduka Group said on Friday it wants to increase its stake in a coal venture it operates with global trader Glencore, although it would not confirm what that stake would be.

Avion Q3 gold output misses own view, cuts 2011 outlook

n"Oct 7 (Reuters) - Avion Gold Corp said third-quarter production at its mines in Mali, West Africa was below expectations, as technical difficulties and heavy rains led to lower grade ore recovery. The West Africa-focused company, which holds 80 ...

U.S. gold futures rise 1 pct as euro regains strength

The most active U.S. gold futures contract jumped 1 percent to an intraday high of $1,635 an ounce on Wednesday as the euro rebounded against the dollar despite lingering fears about the debt crisis in Europe.

Australia's Fortescue wins right to appeal disclosure case

Australian iron ore producer Fortescue Metals Group and its founder Andrew Forrest on Thursday won the right to appeal against a conviction for misleading investors in 2004, the company said in a statement.

Vale: Robust China steel output to keep iron ore mkt tight

QINGDAO, Sept 28 (Reuters) - Brazilian mining giant Vale said China's crude steel production was expected to remain strong despite risks of a recession in developed economies, a trend that would...

First Nickel begins ore delivery from Ontario mine

Canadian miner First Nickel Inc said it restarted production at its Lockerby nickel-copper mine in Ontario and made its first ore delivery to diversified miner Xstrata Plc's nickel business.

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.