Isra-Mart srl: Commodities daily update: precious metals, base metals, crude oil (September 07, 2011)

www.isramart.com

- Kazakhstan's central bank said on Wednesday it would be buying up the Central Asian nation's entire gold bullion output until at least 2014-15 to ease its exposure to the sagging dollar.

- A construction company building Zambia's Muliashi copper mine, owned by China Nonferrous Metals Co Ltd, said on Tuesday it would sack 1,200 striking workers if they did not return to work immediately.

- China's nickel ore imports are expected to slow in the second half compared with the first, an executive at the country's top nickel producer Jinchuan Group told Reuters on Wednesday.

- Mexico's largest oil refinery shut down on Tuesday after a power outage but the state oil monopoly Pemex said it expects operations to resume by the end of the day.

- Iran has been importing four to five cargoes of gasoline per month, with most of it supplied by China as the Islamic Republic finds ways to get around the U.S.-led sanctions, three industry sources familiar with the matter said.