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XTA - Xstrata Latest Prices LONDON (SHARECAST) - Xstrata has completed the sale of its 70% interest in El Morro SCM, which owns the El Morro copper-gold project in north-central Chile. The miner will get $463m in cash from New Gold

The mathematical modelling of metals prices is a useful tool for the mining and investment communities by helping to explain market performance. As a service to Mining Journal readers, we provide here an explanation of Bloomsbury Minerals Economics Ltd's model for copper.London-based BME models metals prices with reference to three 'fundamental' forces: stocks of the metal, economic growth (or specific metal demand) and performance of the US dollar. The models have progressed from dealing with commodities as industrial raw materials to dealing with them as a hybrid physical-investment market.BME is this year introducing the influence of investment/disinvestment on the market, and on ways of better understanding investor flows. 

Kazakhmys, the London-listed copper producer, has secured long-awaited funding for what is set to be its biggest project with a $2.7bn (£1.7bn) loan from China's state-run Development Bank and SamrukKazyna, the Kazakh sovereign wealth fund.About $2bn of the loan will fund the development of the Boschekul copper project in northern Kazakhstan, which has been in the pipeline since 2006.

(AP) — LONDON - Anglo-Australian mining company Rio Tinto PLC said Thursday that demand for iron ore, copper and gold rose strongly in the fourth quarter, but was cautious about the current year as governments wind down economic stimulus programs.

The IPO in London and Hong Kong is set to be the largest in history for the UK market and the third largest in Europe – only the privatisations of Deutsche Telekon and Enel of Italy in the late 1990s were bigger. In the process it will transform a highly publicity shy company into a publicly listed $60bn giant, with all the attendant glare. Unsurprisingly bankers – whether involved in the deal or not – consider it the event of the year whose importance reaches beyond the capital markets.

The super ant’s attraction towards electricity is stronger than its compulsion to eat or drink, meaning it can gnaw through electricity cables and nest in electrical equipment and plug sockets.  These ants usually nest in electrical items and this means they can pose a fire risk and when they swarm can cause blackouts.