shipped 169.4million tonnes of iron ore during its fiscal 2016. The company 165.4 million tonnes ofthe steelmaking commodity in fiscal 2015.
OJSCMagnitogorsk Iron & Steel Works said its second-quarter 2016crude steel outputincreased 5.2% quarter over quarter to 3.2 million tonnes whileshipment of finished steel products rose 7.7% to 3.0 million tonnes.
China's coal imports rose 8.2% on a yearly basis to 108million tonnes in the first six months of 2016 amid the country's drive to cutdomestic overcapacity, Bloomberg News wrote,citing customs data.
*Moody's said the U.S. speculative-grade default rate will reach 10.2% for metals and miningcompanies in the coming year.
*Following the "inevitable" dividend talk by Credit Suisse analystsand a positive near-term outlook from Citi Group, spinoff 's value climbedA$500 million in a day, The Australianreported.
* China's copperimports in the first half of 2016 jumped 22% year over year to 2.74 milliontonnes, Metal Bulletin reported,citing preliminary customs data.
*Votorantim Metais SAunit Compañía Minera MilpoSAA's CEO Victor Gobitz told daily El Comercio that Peru's Cajamarca region couldproduce up to 1 million tonnes of copper annually if four planned miningprojects come into effect during the government of President-elect Pedro PabloKuczynski. The projects are RioTinto's LaGranja project, Newmont Mining Corp.'s Conga mine, China Minmetals Corp.'s Galeno project and Milpo's Michiquillay mine.
* CapstoneMining Corp. produced 28,100 tonnes of copper in the second quarterof 2016, up from24,600 tonnes of copper produced in the first quarter.
*The copper circuit of Doe RunPeru SRL began operating at 65% capacity, union leader LuisCastillo told Reuters, daily Gestión reported.
*The governor of Mexico's Sonora state, Claudia Pavlovich, requested that thefederal environment ministry Semarnat demand compliance from regarding itsobligations to residents affected by the August 2014 toxic spill at itsBuenavista delCobre copper mine, daily LaJornada reported.
*Anglo American Plc islosing 130 tonnes of copper daily from its Chile-based copper mine due to anongoing work stoppage, Metal Bulletinreported.
* An AngloAmerican Platinum Ltd. employee diedat its Khuseleka shaft at the Thembelani mine, part of the operations in SouthAfrica. The employee was injured during a rock conveyance incident March 31 anddied from an infection while being treated.
*Based on assumptions of temporary mine closures in the Philippines and the lackof mine supply growth, Goldman Sachs has forecast a significant rise in nickeland zinc prices. Nickel prices are anticipated to rise to US$11,000 per tonnein the next three months, and US$12,000 per tonne over the next six months,before dropping back down to US$10,000 per tonne in 12 months, Metal Bulletin reported.
* For the first half of fiscal 2016, expectsits headline EPS to rise up to 234.1% on a yearly basis to 81 cents, Mining Weekly reported.
*Barrick Gold Corp.'ssuspended PascuaLama gold project, in the frontier between Argentina and Chile onthe Andes mountains, has experienced at least 12 snow avalanches since May. Thecompany said it is taking the necessary action to protect the safety of itsworkers performing maintenance work on-site, daily El Mercurio reported.
* MetalsExploration Plc started millingoperations at the Runrunogold project in the Philippines.
*KEFI Minerals Plc restructuredits board, effective August this year, as part of its transition toward goldproduction. The board will comprise two executive directors and threenonexecutive directors.
* KBL MiningLtd. resumednormal production at its Pearse open pit with remedial work on a broken sectionof the haul road finalized and access to the bottom of the pit returned.
*Fortuna Silver MinesInc.'s silver production dropped 7% year over year in the second quarter to 1.6million ounces of silver. Gold production for the period increased 4% on ayearly basis to 9,365 ounces. Silver and gold production for the six-monthperiod to June totaled 3.2 million ounces and 18,629 ounces, respectively,surpassing the company's midyear projection by 7% and 10%.
* A 6.7% increase in iron ore price to US$59.38 sent BHPBilliton, Rio Tinto and Fortescue Metals shares in Australia up 3.3%, 2.8% and5.5%, respectively to A$20.58, A$50.78 and A$4.40 per share onJuly 13, The Sydney Morning Herald reported.Meanwhile, Macquarie Group Ltd. said the recentincrease in iron ore prices maybe disproportionate to market fundamentals given rising supplies frommines, a buildup in Chinese port inventories and declining output from steelmills, Bloomberg wrote.
* MesaMinerals Ltd. has been placed under the administration of Bryan Hughes and DanielBredenkamp of Pitcher Partners, effective July 13. As a result, all thecompany's listed securities are suspended from trading.
* ArriumLtd. administrators KordaMentha are set toappoint joint lead managers for the proposed A$1.5 billion IPO of thetroubled company's Moly-Cop business, TheAustralian Financial Review reported.
* Anti-mining group Lock the Gate Alliance urged Australia'sQueensland government toblock Rio Tinto's sale of its mothballed Blair Athol coal mine to for A$1, ABC reported.
* China's Jiangxi province plans to close 205 coal mineswith a combined annual capacity of 12.8 million tonnes this year, which formspart of the local government's five-year plan to close 283 coal mines with 18.7million tonnes of annual capacity, Chinese newspaper Nanchang Daily reported.
* Vedomosti reportedthat PJSC Uralkalimay pay about US$500 million in dividends in 2017, citing rating agency Fitch.Fitch also speculated that Uralkali's new shareholder, Belarusian businessmanDmitry Lobyak, will repay the loan for the purchase of 20% of the company fromthose dividends.
*Edenville Energy Plc startedwork for the environmental and social impact assessment at its coal-to-power project in Tanzania. The application process is expected to becompleted in the first half of 2017.
*African Potash Ltd.entered into a co-operation and exclusivity agreement with Nutri-Aid Trust tosell urea and other fertilizer products to over 2,500 agro-outlets managedby Nutri-Aid.
*Financial advisory and asset management firm, Lazard Australia, is running astrategic review andis assessing market appetite for Peabody Energy Corp.'s Australian coal assets.
*Sociedad Quimica y Minera deChile SA denied earlier reports that it has filed a secondary claimbefore the Chilean Office of the Comptroller General after its invalidationsuit against permits granted to Rockwood Holdings Inc. to increase lithium production innorthern Chile was rejected by the environmental regulator SMA, daily Diario Financiero reported.
* Rio Tinto is selling a coin made with 1 kilogram of 99.99%fine gold and a 0.54 carat red diamond from its Argyle diamond mine for A$1 million, Australian Mining reported.
* ArdidenLtd. secured a third lithium project in Ontario after stakingand securing the Root Bay lithium project.
* Honda Motor Co. jointly developed a new electric motor fora hybrid vehicle model withoutusing key heavy rare earth metals such as dysprosium or terbium, incollaboration with Japan's Daido Steel Co., Automotive News reported.
* NioCorpDevelopments Ltd. produced the first sample of scandium material from its project inNebraska. According to executive Chairman and CEO Mark Smith,"This may very well be the first scandium material made from a U.S.domestic in-situ mineral resource in decades."
* ACanadian lithium company intendsto farm in to an initial 51% interest in Macarthur Minerals Ltd.'s Australian lithium acreage atRavensthorpe, covering an area of 91 square kilometers, for a minimumexpenditure of A$2 million.
*FinnAust Mining Plcgranted an extensionof its existing license to include all minerals within the shallow marineenvironment at the Pituffik titanium project in Greenland.
* Peru's President-elect Pedro Pablo Kuczynski is planningto name Gonzalo Tamayo as the energy and mines minister in his cabinet, Reutersreported.Kuczynski is an economist for local consulting firm Macroconsult.
* A new report into the black lung disease has blamedsystemic failures for the re-emergence of the disease in Australia. The MonashUniversity report also found a further 18 likely cases of black lung, The Australian Financial Review reported.
The Daily Doseis updated as of 7 a.m. New York time, and scans news sources published inChinese, English, Indonesian, Malay, Portuguese, Russian, Spanish, Thai andUkrainian. Some external links may require a subscription.