EUROPE AND MIDDLE EAST

Gold slips as US delivers better-than-expected jobs figures

Friday , 03 Feb 2012
The release of better-than-expected US jobs figures on Friday saw the yellow metal surrender previous gains that had taken it to $1,762/oz, its highest level in 11 weeks.

Gold at highest in 11 weeks as investors wait for US jobs data

Friday , 03 Feb 2012
Spot gold hit a high of $1,762.90 in early trade but failed to maintain traction ahead of key U.S. payrolls data later in the day.

Research shows silver to be as efficient as chemo in treating cancer

Friday , 03 Feb 2012
University of Leeds research in the UK has shown silver to be as efficient at killing off cancerous cells as leading chemo therapty drug and may have fewer side effects.

Fiery CEO personalities may clash in Glencore/Xstrata talks

Friday , 03 Feb 2012
According to analysts, one of the key sticking points in a merger of equals will be who gets to run the enlarged firm with both firm's highly competitive CEOs likely to be up to the challenge.

CME Group launches clearing service for London gold forwards

Friday , 03 Feb 2012
The company's European clearing house has launched clearing services for the first physically settled product for over the counter London gold forwards.

Anglo American CEO recovering after horse-riding accident

Thursday , 02 Feb 2012
She has been advised by her doctor not to travel internationally for about two months.

Glencore's Xstrata offer more a relief than a surprise

Thursday , 02 Feb 2012
Most market commentators polled by Mineweb on Thursday seemed largely unsurprised by the announcement of a possible merger between the two firms but, there may be some fun and games yet.

Gold capitalises on low interest rate environment

Thursday , 02 Feb 2012
While the gold price slipped 0.5% from a new 8-week high Thursday morning, it seems the US Federal Reserve's stance to keep interest rates low for some years has reinstated investor confidence in the metal.

Gold's uptrend continues as investors bet on more gains

Thursday , 02 Feb 2012
Gold was up 0.1% at $1,745.24 an ounce on Thursday as the dollar strengthened and equity markets eased, but firmly underpinned by strong investor appetite.

China's gold output and demand could be far greater than ‘official' data suggest

Thursday , 02 Feb 2012
Comment from Jeff Nichols suggests that Chinese gold production and consumption may be considerably higher than the statistics released by the country would indicate.

Xstrata confirms Glencore merger of equals talks

Thursday , 02 Feb 2012
In a statement issued this morning, and subsequently confirmed by Glencore, Xstrata said the commodities trader has made an approach about an all-share offer for "a merger of equals."

Outokumpu loss highlights need for merger

Wednesday , 01 Feb 2012
The company posted an operating loss of 71 million euros for the last three months of 2011, highlighting the need for what the company says is a tie-up that will boost production of higher margin products.

China stainless steel output up 11.1% in 2011 - but could be 20% higher

Wednesday , 01 Feb 2012
As another indicator of Chinese industrial growth output of stainless steel there rose by 11.1% to 12.5 million tonnes but could actually have been 20% higher.

Gold continues after strongest January showing in 32 years

Wednesday , 01 Feb 2012
Gold rose 11% in January, the largest one-month gain since August 2011 and the best for the month of January since 1980, as the euro rebounded following upbeat German economic data.

Sandvik's Q4 core profit disappoints

Wednesday , 01 Feb 2012
Swedish specialty steel and tool maker Sandvik, which has warned it was bracing for slower economic growth, posted a smaller-than-expected rise in its Q4 core profit on Wednesday.

Norway's Yara to pay $143mn to increase its Burrup stake

Wednesday , 01 Feb 2012
The firm will pay $143 million to increase its stake in Australia's Burrup from 35% to 51% to run it jointly with oil and gas group Apache Corp and boost output to capitalise on the country's mining boom.

Chile's Antofagasta hits 2011 target

Wednesday , 01 Feb 2012
After posting a production rise of about 23% in 2011, thanks to the ramp up of its Esperanza mine, copper miner Antofagasta plans to increase production by more than 9% this year.

WTO ruling on China’s raw materials exports may not ease REE constraints

Wednesday , 01 Feb 2012
Despite the successful challenge of Chinese export restrictions on raw materials at WTO, the European Commission and the United States probably won't make much headway on China's REE quotas.

Atlas Copco sees weaker 2012 demand after record year

Wednesday , 01 Feb 2012
Atlas Copco has forecast a weaker demand for most construction equipment this year due to growing global economic uncertainty, despite posting a record full-year profit in 2011.

Norsk Hydro writedowns to hit Q4 results

Wednesday , 01 Feb 2012
On the back of worsening markets in Australia and southern Europe, the Norwegian firm plans to write down its asset values by 1.3 billion Norwegian crowns, measures that could weigh on its fourth-quarter results.

Antwerp battles competition from India, Dubai

Wednesday , 01 Feb 2012
Without giving details, Antwerp authorities said they plan to announce a new strategy to safeguard the city's position as a diamond trade hub at a one-day event to be held on Feb. 8.

France must extend lifespan of existing nuclear reactors - audit

Wednesday , 01 Feb 2012
The French Court of Audit published a report Tuesday recommending the country extend the lifespan of existing nuclear reactors as "there are few choices left".

Rio Tinto accepts CGNPC for Kalahari

Wednesday , 01 Feb 2012
Global miner Rio Tinto has accepted CGNPC's offer for its shares in Kalahari Minerals, the major shareholder in the giant Husab uranium project in Namibia.

Greenpeace storm Romanian environment ministry over gold mine

Tuesday , 31 Jan 2012
About 20 Greenpeace activists from Romania, Hungary, Germany, Austria, Italy and Slovenia descended on Romania's Environment Ministry on Tuesday in a bid to halt the approval for the proposed gold mine in Rosia Montana.

Aquarius Platinum warns against S.Africa's zero-harm drive

Tuesday , 31 Jan 2012
The platinum major said Tuesday whilst South Africa's drive to cut mining accidents is laudable, it is making the country a difficult place in which to operate as these safety stoppages are damaging to production.

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