DJ BASE-METALS HIGHLIGHTS: Top Stories of the Day
Jul 27, 2012 (Dow Jones Commodities News via Comtex) --
Chile's Collahuasi: 2012 Copper Output Seen Lower Than Last Year's
SANTIAGO, Chile--Chilean copper mine Dona Ines de Collahuasi expects its 2012 copper output to fall from the 453,000 metric tons it produced last year, a company executive said Friday.
STORIES OF INTEREST
2nd UPDATE: Anglo American Earnings Disappoint; Brazil Project Delayed
LONDON--Globally diversified miner Anglo American PLC (AAL.LN) on Friday reported worse-than-expected earnings due to falling commodity prices and delayed the start day for its Brazilian Minas Rio iron-ore project due in part to regulatory difficulties in securing licenses.
Newmont CEO: Gold-Linked Dividend is Sustainable
Newmont Mining Corp.'s (NEM) chief executive said Friday the company's gold-linked dividend was sustainable, signaling that the company was committed to returning cash to shareholders despite pressures from rising mining costs.
ENK Receives Acquisition Offer From Undisclosed Firm
LONDON--Nickel production company ENK PLC (ENK.LN) on Friday said it has received an approach that may or may not lead to an offer being made for all of the issued and to-be-issued share capital of the company.
African Eagle in Agreement to Dispose of Zambian Copper Assets
LONDON--Miner African Eagle Resources PLC (AFE.LN) said Friday it has executed a binding agreement with private company Elephant Copper Ltd. for the disposal of African Eagle's remaining Zambian copper assets, the wholly owned Katanga Resources Ltd. and its 49.9% interest in Kujima Mining and Exploration Ltd.
China 2H Power Grid Investment to Lift Copper Demand, Credit Suisse Says
BEIJING--A fresh round of power-grid investment in China likely will underpin copper demand in the second half of the year, Credit Suisse said in a report Thursday. The electricity sector accounts for 9% of the country's copper consumption.
BASE METALS: Copper Ends at One-Week High on Hopes of Easing
NEW YORK--Copper prices locked in a three-day winning streak Friday as hopes that the Federal Reserve will take steps to boost the economy next week overpowered concerns that recent economic data beat expectations.
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