London midday: ICAP leads the slide
14th Jul 2010 12:04
London looks like it is pausing for breath after the recent good run that has seen the FTSE 100 index advance by 8% over the last week. As has been the case every day this week, BP is in focus but the slant on the news today is downwards. The company has delayed a pressure test on the newly instal
Read moreTwo Brokers Not Insured Against Nickel, Copper Theft -Sources
14th Jul 2010 12:00
By Andrea Hotter Of DOW JONES NEWSWIRES LONDON (Dow Jones)--The theft of several hundred metric tons of nickel and copper from a warehouse in the U.K.'s north west will end up being an expensive crime for a couple of metals brokers, because they weren't insured against the burglary, persons
Read moreChinese Steel Demand To Peak In 2024; Ebb Slowly -Analysts
14th Jul 2010 10:26
CANBERRA (Dow Jones)--Chinese steel demand will peak in 2024 in a range of 700-800 kilograms per person, doubling the per capita level of use in 2008 of 375 kg, and then decline only slowly in following years, according to an analysis on China's metal intensity use presented Wednesday by Westpac Ban
Read moreFOCUS: Mongolia Tug-Of-War Behind Rio-Ivanhoe Dispute
14th Jul 2010 10:17
By David Fickling Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--The close relationship between global miner Rio Tinto Ltd. (RIO.AU) and Canadian maverick Ivanhoe Mines Ltd. (IVN.T) appears to be unravelling just as their biggest joint project starts moving towards production. At the center
Read moreUPDATE: Rio Sees Good Demand, But Economy To Remain Volatile
14th Jul 2010 08:53
(Adds chief executive's and analysts' comments on production and demand outlook, quarterly pricing, Cape Lambert port expansion) By David Fickling Of DOW JONES NEWSWIRES SYDNEY (Dow Jones)--The global economy is heading for a fresh bout of uncertainty amidst fears of a double-dip recessi
Read moreLondon open: Modest gains for Footsie
14th Jul 2010 08:49
Footsie has made progress after a cautious start, though BP's recent good run has come to an end while derivatives broker ICAP is lower after a cautious statement. BP has delayed a pressure test on the newly installed well cap in the Gulf of Mexico while reports today said US politicians now want t
Read moreMARKET TALK: Rio Expects 2010 Aluminum Output Down, Mined Copper Up
14th Jul 2010 07:56
0656 GMT [Dow Jones] Rio Tinto (RIO.AU) sees 2010 aluminum production down from 3.8 million to 3.7 million tons vs April estimate, sees 2010 alumina output at 9.4 million, down from 9.6 million; 2010 mined copper up 10,000 tons on 1Q estimate at 690,000 tons, although 2010 refined production steady
Read moreLondon pre-open: Higher start expected
14th Jul 2010 07:39
Footsie is expected to climb higher in early dealings as US results continue to impress following the start of the earnings season. This year continues to "shape up well" for Rio Tinto, but the mining heavyweight today warned investors to expect further volatility in commodity prices on fears of a
Read moreMARKET TALK: Most Asian Iron Ore Buyers On Quarterly Prices -Rio
14th Jul 2010 07:10
0610 GMT [Dow Jones] Agreements now signed with around 50% of Asian buyers for iron ore sales based on quarterly pricing, says Rio Tinto (RIO.AU) in quarterly production report; provisional pricing of sales to all other customers now on quarterly basis as move away from annual benchmarks continues.
Read moreMinera IRL Completes US$3.8 Mln Ollachea Payment To Rio Tinto
14th Jul 2010 07:04
LONDON, UNITED KINGDOM--(Marketwire - July 14, 2010) - Minera IRL Limited ("Minera IRL" or the "Company"), (TSX:IRL)(AIM:MIRL)(BVLAC:MIRL) the Latin American focused gold mining, development and exploration company, announces that, pursuant to the Company's Ollachea option agreement (the "Agreement"
Read moreRio Tinto warns of further volatility
14th Jul 2010 07:03
This year continues to "shape up well" for Rio Tinto, but the mining heavyweight today warned investors to expect further volatility in commodity prices on fears of a double-dip recession and concerns about Chinese demand. In a second quarter update, chief executive Tom Albanese said operations are
Read moreMARKET TALK: Global Volatility Will Continue - Rio Tinto CEO
14th Jul 2010 06:46
0546 GMT [Dow Jones] While Rio Tinto (RIO.AU) CEO Tom Albanese appears confident in group's outlook for 2010, investors likely to take note of his somewhat cautious comments about the global economic outlook. The "pattern of volatility" in the global economy is "set to continue", says Albanese in co
Read moreRio Tinto: 2Q Iron Ore Output 43.6M Metric Tons, Down 2% On Year
14th Jul 2010 06:24
SYDNEY (Dow Jones)--Iron ore production by Rio Tinto Ltd. (RIO.AU) fell 2% in the second quarter of 2010 compared with the same period last year, but improved 1% from the first three months of the year, to 43.6 million metric tons, the company said Wednesday. In a second quarter operations revie
Read moreCoal & Allied 2Q Saleable Production Up 10% On Quarter, 4% On Year
14th Jul 2010 05:36
MELBOURNE (Dow Jones)--Coal & Allied Industries Ltd. (CNA.AU) said Wednesday its share of total saleable production in the three months to June 30 rose 10% on the previous quarter and 4% for the same period last year. The company said in a statement that it ramped up production of semi-soft coki
Read moreRio Tinto: Approves Funding For Pilbara Expansion To 330M Tons/Year Capacity
14th Jul 2010 01:07
SYDNEY (Dow Jones)--Rio Tinto Ltd. (RIO.AU) said Wednesday it has arranged US$200 million in funding to expand its iron ore operations in Western Australia state's Pilbara region. The money would be spent on dredging work to assist in the expansion of Cape Lambert, a port in the eastern Pilbara,
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