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BHP Billiton’s shares leapt up after a record-breaking production report that has investors eyeing a strong profit and better capital returns.

The global mining giant upgraded full year iron ore production guidance by five million tonnes (mt) to 212 mt (BHP’s share 192 mt).

The lift in guidance comes after BHP beat forecasts by increasing iron ore output by 23 per cent year on year to a record 48.85 million tonnes during the three months to the end of September.

Total ore sales out of Western Australia – including joint venture partners – was 53.56 million tonnes, also a 23 per cent lift.

http://news.smh.com.au/breaking-news-business/bhp-beats-forecasts-lifts-ore-guidance-20131022-2vxrf.html

BHP’s share price jumped more than 2 per cent to $36.96 this morning after it lifted its full year iron ore production expectations for the 2014 financial year.

The world’s largest resources company now expects to produce 212 million tonnes of iron ore from its Pilbarra operations, some 5 million tonnes higher than its previous guidance.

http://www.heraldsun.com.au/business/bhp-billiton-lifts-production-target-after-new-iron-ore-mine-comes-online/story-fni0dcne-1226744426719

New York (Platts)–21Oct2013/109 pm EDT/1709 GMT

Arcelor Mittal is now better positioned for a “multi-year recovery,” Deutsche Bank analysts said Monday, acknowledging the world’s largest steelmaker has “suffered more volume pain” than other steel producers during the post-2008 downturn, but “should benefit on the way up.”

A tonnage (volume) recovery would likely capture positive momentum “at least in proportion with or above its market share,” David Martin and Bastian Synagowitz wrote in a Deutsche Bank Markets Research note. Also, any momentum would be buoyed by an expected recovery in auto production at French OEMs — historically an important customer segment for ArcelorMittal, they said.

http://www.platts.com/latest-news/metals/newyork/arcelormittal-on-brink-of-multi-year-steel-rebound-21713954

Oct 21 (Reuters) – Tokyo Steel Manufacturing Co Ltd is keeping November prices of most of its products unchanged as Japan’s top construction-steel maker is wary of competition from imports and wants a recent broadbased hike to be absorbed by the market.

The pricing strategy of Tokyo Steel is closely watched by Asian rivals such as South Korea’s POSCO and Hyundai Steel Co and China’s Baosteel, which are aiming to boost exports to Japan.

http://in.reuters.com/article/2013/10/21/tokyosteel-prices-idINL3N0IB1KP20131021

(Kitco News) –After a quiet spell with mining on the Iberian Peninsula, Spain has been seeing a reemergence of activity, highlighted by a major company throwing their hat in the ring.

Solid Resources Ltd. (TSXV: SRW), a Canadian junior mining company, announced a co-op agreement for joint due diligence with metals and mining giant Glencore Xstrata plc (LSE: GLEN) for Solid’s Cehegin iron-ore project, located in the Province of Murcia, in southeastern Spain.

http://www.forbes.com/sites/kitconews/2013/10/21/solid-resources-spain-based-projects-picking-up-steam-signs-co-op-agreement-with-glencore/

ZIMBABWE investment of as much as $5.3 billion and stable mining policies if the country is to boost platinum output to rival Russia as the world’s second-biggest producer of the metal, an industry organisation said.

To increase production to the more than 500,000 ounces per annum needed to justify the construction of base and precious metal smelters and refineries, investment of $2.8 billion is needed in mines.

In addition, as much as $2 billion in processing plants and between $200 and $500 million to ensure adequate power supply, the Chamber of Mines said in a report.

http://allafrica.com/stories/201310210264.html

Oct 18 (Reuters) – Canada has agreed to waive for European companies a longstanding requirement that buyers take on a Canadian partner in uranium mines, a move that may spur greater investment in developing the country’s rich uranium reserves.

The move, part of the Canada-European Union free trade agreement announced on Friday, comes after intense lobbying from France-based Areva SA and Anglo-Australian Rio Tinto Plc for Canada to scrap the Cold War era policy.

http://www.reuters.com/article/2013/10/18/eu-canada-trade-uranium-idUSL1N0I80RS20131018

From 2014, the government will consider granting export permits to mining companies that are committed to building smelting plants, he stated.

The permits will be issued for a certain period of time, until the smelters become operational.

“It takes about three years to build a smelter,” he explained.

The government will not grant export permits from 2014 to companies that are not serious about building smelters, he added.

http://www.antaranews.com/en/news/91160/indonesia-prepares-regulation-to-allow-limited-exports-of-minerals

LONDON, Oct 17 (Reuters) – A potential ban on nickel ore exports by Indonesia next year and production cutbacks could lift the price of this year’s worst-performing base metal by more than 20 percent off multi-year lows, analysts said.

Indonesia, the world’s top exporter of nickel ore, has said it plans to bring in a ban on unprocessed ore exports from Jan. 1, 2014. Its ore is currently shipped to China to produce nickel pig iron, a cheap substitute for higher grade nickel in stainless steel.

It is not certain that the ban will go ahead unchanged, but if it does analysts said it would be a game-changer for prices.

http://in.reuters.com/article/2013/10/17/nickel-indonesia-idINL6N0I73C320131017