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IFR reports Minmetals raised $499m from a share placement

China's Minmetals Resources Ltd will raise $499 million from a share placement, IFR reported on Tuesday. The new shares were sold at HK$5.10 ($0.66) each, below the indicative price range of HK$5.20-$5.60, translating to a discount of approximately 13.4 percent to the last traded price, IFR, a Thomson Reuters publication, citing sources said.
Mineweb | April 19, 2011 | 12:20 pm

Scarcity suggest aluminium and zinc premiums to rise

Premiums paid for zinc and aluminum in the U.S. probably will rise in the next few weeks because of the metals' limited availability in the physical market, said Macquarie Bank Ltd. Zinc premiums, added to the price of immediate-delivery metal on the London Metal Exchange, more than doubled in the past year to 6 to 7 cents a pound even as inventories swelled, Macquarie analysts including London-based Duncan Hobbs said in a report today
Mineweb | April 19, 2011 | 12:05 pm
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Anaconda Mining posts fifth straight quarterly loss

Canadian gold miner Anaconda Mining Inc posted a fifth-straight quarterly loss, but expenses were lower from a year-ago levels and production rose sequentially. Net loss for the third quarter was $1.9 million, or 1.5 cents a share, compared with a loss of $2.2 million, or 2.5 cents per share, a year ago.
Mineweb | April 18, 2011 | 8:34 am

Is commodities boom nearing its end?

The commodity bull has shown little sign of running out of steam - until now. Prices began to stumble as soon as a note from Goldman Sachs, the American banking giant, whizzed around trading desks across the globe last week. The broker advised clients to close its profitable "CCCP" play, which involved investing in a basket of crude oil, copper, cotton, platinum and soybeans. The commodities team, led by Jeffrey Currie, argued that after gaining 25pc since December, the risks to the trade had changed.
Mineweb | April 18, 2011 | 8:11 am
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Indonesian investment agency to buy 7% of Newmont Indonesia

The Indonesian government said on Sunday that state investment agency Pusat Investasi Pemerintah (PIP) would buy a 7 percent stake in Newmont Mining Corp's Indonesian unit, paving the way for an initial public offering for the unit in coming months.
Mineweb | April 18, 2011 | 6:14 am
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Grand Cache Coal cuts 2012 sales forecast

Metallurgical coal mining company Grande Cache Coal Corp cut its 2012 coal sales forecast as it expects production to be affected by the challenging mining conditions. The company now sees coal sales volumes of 2.2-2.4 million tonnes, down from the previous forecast of 2.4-2.6 million tonnes.
Mineweb | April 16, 2011 | 6:18 pm