Nickel price rise: too much too soon says new report

The U.K. has committed to halving its carbon emissions before 2027 following the publication of its ambitious fourth carbon budget. The rollout and development of renewable energy technologies, as well as the construction of new nuclear power plants, will play a key part in reducing the country's carbon emissions 50% when compared to 1990 levels. This will mean that net emissions for 2023-27 should not exceed 1.95 billion tonnes of carbon dioxide equivalent.

Forbes reported that demand for Appalachian coal should drive up profits for US producers. The market news is quoted as saying: India and Europe will likely to import more of the plentiful, dirtier-burning coal used by electric plants, Brean Murray Carret & Co. analyst Jeremy Sussman said in a research note Friday.

TATA Steel's European unit Corus said on Friday it will cut around 1,500 jobs in northern England as part of a restructuring of its long products unit, which supplies clients including builders and miners. Like others in the industry, Tata Steel has faced a margin squeeze since last year, as the price of raw materials increases but demand from sectors like construction remains muted.

Israel-headquartered diamond firm Dalumi opened an office in Mumbai, saying it wants to be closer to the fastest growing diamond center in the world.

(RTTNews) - The UK market is trading higher in afternoon trading Thursday, amid some positive earnings news as well as consolidation in commodities prices.

Xstrata Mount Isa Mines has announced plans to sustain the future of its Mount Isa operations through expanded mining and concentrate production, while phasing out copper smelting at Mount Isa and refining operations in Townsville by the end of 2016. 

ArcelorMittal South Africa (AMSA), a subsidiary of ArcelorMittal, the world's biggest steelmaker, this week announced an agreement which may see the acquisition of an iron ore "resource" in the Northern Cape. At the same time, parent company ArcelorMittal announced its first quarter earnings, where, for the first time, it reported its mining interests as a separate segment.

Europe's No.2 copper producer KGHM (KGHM.WA) nearly tripled its net profit in the first quarter, beating expectations thanks to a rally in metal prices. Poland's state-controlled miner said on Friday its bottom line reached 1.96 billion zlotys ($710 million), compared to 1.84 billion seen in a Reuters poll.

German technology and German know-how are to help the Colombian coalmining sector, underground mining in particular, to become safer and increase its production. A strategic co-operation is planned that is to comprise not only a safety partnership but also technology transfer. Juan Gabriel Ceballos Campuzano is the owner of Colombia’s old-established family mining firm Soc Central de Activos Mineros, based in the Colombian capital of Bogotá.