Zinc

Copper hit its highest since mid-April on Tuesday on better-than-expected U.S. housing data, a weaker dollar and hopes Chinese demand will remain firm, helping offset investor anxiety over U.S. and European sovereign debt concerns.

Zinc prices gained on falling Dollar and rising EURO on the back of easing tensions of US quantitative easing. Dollar has so far lost 82 pips and is trading at 1.418 per EURO.

Outotec has been awarded another concentrator contract with Russian Copper Co. for the Miheevsky project with throughput of 18 million tonnes of ore a year. Finnish headquartered metallurgical specialist Outotec has signed a contract with ZAO Miheevsky Image from Outotec shows Kittilä gold mine, Finland.

Copper hit its highest since mid-April on Tuesday as a weaker dollar and hopes Chinese demand will remain firm helped offset investor anxiety over US and European sovereign debt concerns. Three-month copper on the London Metal Exchange (LME) traded at $9,800.25 a tonne by 0825 GMT compared with Monday's close of $9,694 a tonne.

Copper and gold miner OZ Minerals will return up to $200 million to shareholders through an on-market buyback, as booming prices for its products continue to generate cash. Photo of copper concentrates being loaded, by OZ Minerals.

Commodities giant Glencore says it is buying a majority stake in Peru's Mina Justa copper mine for $475 million. Swiss-based Glencore International PLC said Monday the purchase of a 70 per cent stake in Marcobre SAC from CST Mining Group Limited is subject to inspection of the books and price adjustment.

Carpathian Gold announced that it has concluded an agreement with Barrick Gold Corporation for a CDN$20 Million private placement to purchase 38,461,538 common shares (the "Private Placement" and the "Common Shares") of the Corporation at a price of $0.52 per share. The Common Shares will be subject to a four-month hold period. The proceeds from the Private Placement will be exclusively applied to the Corporation's ongoing exploration and development work on its wholly owned Rovina Valley Project ("RVP") situated in west-central Romania.

Russia will seek to secure a priority right for the explored ocean minefields in the Atlantic says Polar Marine Geological Prospecting Expedition Vladimir Kryukov following the first stage of ore deposit exploration on the Atlantic Ocean floor. The Russian research vessel The Professor Logachev is engaged in exploring copper, zinc, gold and silver deposits in the area of the Mid-Atlantic Ridge at about 13 degrees north latitude. Over the last seven years, Russian marine geologists have made a number of discoveries and is now seeking to legally execute its right of exploring them through the United Nations.

Xstrata Zinc Canada has agreed to purchase the remaining 23.6% interest in the Pallas Green property in Ireland belonging to its current joint venture partner in the project, Minco, for $19.4 million. Under the agreement, which is subject to Minco shareholder approval, Xstrata Zinc will become the sole owner of the project at Cahernconlish, Limerick.