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Global Mining and Metals

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African Barrick Gold sees deal options in 2012

LONDON African Barrick Gold (ABG) sees increased opportunities for deals in Africa as asset prices ease and potential sellers begin to consider their options in the face of a still-uncertain economic outlook, the mining company said on Tuesday.

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McEwen Mining looks to M&A on growth path

Gold and silver producer McEwen Mining Inc is looking for a merger or acquisition as a step toward its goal of inclusion in the Standard & Poor's 500 index by 2015, its chief executive said on Thursday.

Chile sees copper prices up in second half 2012

SANTIAGO Chile sees copper prices rising slightly in the second half of 2012, as demand from top consumer China remains robust while supplies stay tight, with mines working at full capacity and a lack of new projects, state copper commission Cochilco said on Thursday.

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McEwen CEO lashes major gold companies

NEW YORK Major gold mining companies, whose shares have dropped even as the gold price rose, should be paying out more in yields and dividends to attract shareholders and broaden the appeal of gold investment, a key industry figure charged on Thursday.

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Norilsk sees average nickel prices near $20,000 per ton in 2012

MOSCOW Global average nickel prices this year will be slightly less than $20,000 per metric ton, which is almost equal to the average level for the first quarter, Norilsk Nickel's head of marketing Viktor Sprogis said at the Reuters Mining and Metals Summit.

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Russia's Severstal backs Keystone XL pipeline

MOSCOW Russian steelmaker Severstal is well placed to benefit from the proposed Keystone XL oil pipeline that could boost demand for output from its U.S. mills, a senior executive said.

Humbled gold miners sweeten pie to entice investors

LONDON/TORONTO A collapse in gold producers lofty valuations has sparked soul searching about an exodus of restive shareholders, forcing them to tighten operations and boost dividends to lure investors.

Hyundai Steel sees steel market recovering in H2

SEOUL South Korea's Hyundai Steel expects the steel market to recover in the second half of this year led by a pickup in automobiles and construction despite high oil prices, weak Chinese demand and euro zone debt issues, executives said.

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Vale says giant ore ships to win China approval in months

RIO DE JANEIRO Brazil's Vale , the world's No. 2 mining company, expects to win permission "within months" to unload its big, new iron-ore ships at Chinese ports, a move that will help ensure efficient delivery of raw materials to China's growing economy, a senior executive told Reuters.

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Lack of new tin mines to erode stocks: ITRI

LONDON The global tin market will be in deficit by 10,000 metric tons in 2012, while a lack of new mines will take inventories to very low levels and push prices to record highs, the manager of statistics and market studies at UK-based consulting firm ITRI said.

'Blood diamond' monitoring needs broader scope

WASHINGTON/LONDON A global monitoring of the trade in rough diamonds should expand its definition of banned "conflict" gems to cover a wider range of violent circumstances, its chairwoman said, but must guard against attempts to broaden its mandate too far.

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