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UPDATE 1-Workers stage illegal strike at South Africa chrome mine 17 hours 35 minutes ago By Agnieszka Flak JOHANNESBURG, May 18 - Operations at a chrome mine in South Africa owned by chemicals group Lanxess have been suspended since Thursday after some 470 workers started an illegal strike over bonus payments, the company said on Saturday. The dispute at the mine in Rustenburg, 120 km (70 miles) northwest of Johannesburg, adds to growing labour tensions around South Africa's platinum belt, which are set to intensify over looming job cuts and wage talks in the sector. 'The workforce downed tools, embarking ... Read more | Comments

Hopes fade for those still trapped in Freeport Indonesia mine Yesterday 08:33 JAKARTA, May 18 - Freeport McMoRan Copper & Gold Inc said on Saturday that rockfalls were hampering rescue efforts after a tunnel collapse four days ago at its giant Indonesian copper mine, with hopes fading of finding alive any of the 23 still missing. Freeport closed the world's second largest copper mine on Wednesday, a day after a tunnel fell in on 38 workers undergoing training. Five are known to have died. Several of the 10 rescued are still in hospital. The Grasberg mine in West Papua is in one of the most remote ... Read more | Comments

Fitch Affirms Chesapeake Energy's LT IDR at 'BB-'; Outlook Stable 17 May 2013 NEW YORK, May 17 (Fitch) Fitch Ratings has affirmed the Long - term Issuer Default Rating (LT IDR) and senior unsecured ratings for Chesapeake Energy Corporation (Chesapeake). In addition, Fitch has affirmed the ratings on the company's secured credit facility and its preferred stock. Approximately $16 billion in rated securities is affected by this rating action. A full list of ratings is at the end of this release. The Rating Outlook has been revised to Stable from Negative. KEY RATING DRIVERS Chesapeake's ratings reflect a very ... Read more | Comments

UPDATE 2-Russian missiles to Syria could embolden Assad -US general warns 17 May 2013 By Phil Stewart WASHINGTON, May 17 - The top U.S. military officer on Friday condemned Russia's shipment of advanced anti-ship missiles to Syria, saying it could embolden President Bashar al-Assad's forces to keep fighting a bloody civil war. 'It's at the very least an unfortunate decision that will embolden the regime and prolong the suffering,' General Martin Dempsey, chairman of the Joint Chiefs of Staff, told reporters at the Pentagon when asked about the weapons shipment. 'So it's ill-timed and very unfortunate,' he ... Read more | Comments

China deal ends distraction, but not questions, for Caterpillar 17 May 2013 By James B. Kelleher CHICAGO, May 17 - Caterpillar Inc's deal to cut the purchase price of a Chinese mining-equipment maker it bought last year ends an embarrassing episode that overshadowed the company's effort to expand in China and distracted its executives for months. Now, analysts say, comes the hard part: Proving to investors that ERA Mining Machinery, the Chinese maker of hydraulic roof supports that Caterpillar purchased, really can help penetrate China's huge underground mining market. In January, Caterpillar ... Read more | Comments

UPDATE 1-Speculators turn bearish on U.S. 10-year notes-CFTC 17 May 2013 NEW YORK, May 17 - Speculators turned bearish on U.S. 10-year Treasury note futures in the latest week after an unexpected rise in April retail sales suggested underlying strength in the U.S. economy, according to Commodity Futures Trading Commission data released on Friday. The amount of bearish, or short, positions in 10-year Treasury futures from speculators exceeded bullish or long positions by 11,153 contracts on May 14, according to the CFTC's latest Commitments of Traders data. There were 37,956 more longs in 10-year ... Read more | Comments

TREASURIES-Prices fall on improved consumer sentiment 17 May 2013 By Ellen Freilich NEW YORK, May 17 - Prices for U.S. Treasuries fell on Friday after data showed consumers grew more optimistic in May and an index of leading indicators pointed to economic growth ahead. U.S. consumer sentiment rebounded in early May to the highest level in nearly six years as Americans felt better about their financial and economic prospects, particularly among upper-income households, a survey released on Friday showed. With the better-than-expected retail sales figures on Monday, 'you could probably ... Read more | Comments

UPDATE 1-Tesoro wins US antitrust OK to buy California BP refinery 17 May 2013 By Diane Bartz and Erwin Seba WASHINGTON/HOUSTON, May 17 - U.S. refiner Tesoro Corp. has received formal approval from antitrust regulators to buy a BP Plc refinery in southern California for more than $2 billion without requiring any asset sales. The Federal Trade Commission, which assessed the deal to ensure it complies with antitrust law, said there was evidence that combining the BP refinery and a Tesoro refinery, which nearly abut each other, could reduce the cost of producing the special, low-carbon gasoline that state law ... Read more | Comments

UPDATE 1-Divided US House passes SEC cost-benefit analysis bill 17 May 2013 By Sarah N. Lynch WASHINGTON, May 17 - A divided U.S. House of Representatives on Friday passed a Republican-sponsored bill that would force federal securities regulators to conduct more economic analysis before adopting rules for Wall Street. The bill, which is not expected to make it to the Democrat-controlled U.S. Senate floor for a vote, passed largely along party lines in a 235-161 vote. Republicans backed the measure and Democrats opposed it, saying it would hinder the Securities and Exchange Commission from completing ... Read more | Comments

UPDATE 1-U.S. Treasury to free up $260 bln to avoid debt cap 17 May 2013 By Margaret Chadbourn WASHINGTON, May 17 - The Obama administration on Friday notified Congress it was prepared to take a series of steps to free up about $260 billion so it can keep paying the nation's bills once a temporary suspension in the government's debt ceiling lapses this weekend. To preserve its borrowing capacity, the Treasury Department said it would use the same measures it has used previously when Congress had failed to raise the limit. The Treasury this week took the first step, suspending sales of special Treasury ... Read more | Comments