European shares turn negative; miners fall

June 25, 2010 By Leave a Comment

June 24 (Reuters) – European shares turned negative on Thursday morning, with miners giving up gains from early in the session, having risen on hopes Australia’s new Prime Minister would compromise on proposed taxes on resource firms.

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At 0730 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was down 0.4 percent at 1,035.76 points.

BHP Billiton (BLT.L), Kazakhmys (KAZ.L), Rio Tinto (RIO.L) and Xstrata (XTA.L) were between 1 and 2.7 percent lower. (Reporting by Brian Gorman)

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European shares rise in early trade; miners gain

June 25, 2010 By Leave a Comment

June 24 (Reuters) – European shares rose in early trade on Thursday, with miners leading on hopes that proposals for a super tax in Australia will be diluted after a change of prime minister.

Stocks | Global Markets

At 0706 GMT, the FTSEurofirst 300 .FTEU3 index of top European shares was up 0.3 percent at 1,043.16 points, after falling 1 percent in the previous session.

Miners gained on hopes that Australia’s new leader, Julia Gillard, will compromise on proposals for increased taxes on resource companies.

Antofagasta (ANTO.L), BHP Billiton (BLT.L), Kazakhmys (KAZ.L) and Xstrata (XTA.L) rose between 0.8 and 1.2 percent.

“It seems to be more confirmation that any plans for a 40 percent resources tax have been watered down significantly,” said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin.

“The market is still in a range, and maybe it can trade towards the top of it. ”

The U.S. Federal Reserve renewed its vow to hold benchmark interest rates exceptionally low on Wednesday, but downgraded its assessment of the economic recovery. (Reporting by Brian Gorman)

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UPDATE 1-Kazakh copper mine explosion kills three

June 21, 2010 By Leave a Comment

June 20 (Reuters) – An explosion killed three copper miners in central Kazakhstan on Sunday, mine owner Kazakhmys (KAZ.L) said.

Kazakhmys is the world’s eighth-largest copper miner and its shares trade on the London Stock Exchange.

A company spokeswoman, reading from a news statement, said a fourth miner had also been injured in the explosion, which occurred at about 1000 local time (0400 GMT) at the Stepnoi underground mine in the town of Satpayev, Karagandy region.

Kazakhmys said it had set up a special commission to investigate the cause of the explosion.

Kazakhmys expects to produce about 300,000 tonnes of copper cathode this year. It recently concluded all sales contracts for 2010, signalling strong demand for copper worldwide, including in China, the world’s largest consumer. [ID:nLDE63R1QI] (Reporting by Olga Orininskaya, writing by Robin Paxton; Editing by Matthew Jones)

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Kazakh copper mine explosion kills three

June 21, 2010 By Leave a Comment

ALMATY, June 20 (Reuters) – An explosion killed three copper miners in central Kazakhstan on Sunday, mine owner Kazakhmys (KAZ.L) said.

Kazakhmys is the world’s eighth-largest copper miner and its shares trade on the London Stock Exchange.

A company spokeswoman, reading from a news statement, said a fourth miner had also been injured in the explosion, which occurred at about 1000 local time (0400 GMT) at the Stepnoi underground mine in the town of Satpayev, Karagandy region.

Kazakhmys said it had set up a special commission to investigate the cause of the explosion.

Kazakhmys expects to produce about 300,000 tonnes of copper cathode this year. It recently concluded all sales contracts for 2010, signalling strong demand for copper worldwide, including in China, the world’s largest consumer. [ID:nLDE63R1QI] (Reporting by Olga Orininskaya, writing by Robin Paxton; Editing by Matthew Jones)

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Kazakh copper mine explosion kills three – Interfax

June 21, 2010 By Leave a Comment

June 20 (Reuters) – Three miners died on Sunday in an explosion at a copper miner in Kazakhstan operated by the Central Asian country’s largest miner of the metal, Kazakhmys (KAZ.L), Interfax news agency reported. Interfax-Kazakhstan quoted the manager of Mine No. 67, Serik Aitmukhanov, as saying the explosion occurred at 0950 local time (0350 GMT).

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