BUZZ-UK mining cos: Citi downgrade cuts short rebound

** London-listed mining cos resume slide after Citigroup (Swiss: C.SW - news) cuts its price target on a raft of cos to reflect lowered commodity price forecasts

** "We believe the longer term outlook for the miners continues to have a high level of uncertainty and will depend on positive US$ global growth and/or synchronized global growth," Citi analysts say

** Glencore (Xetra: A1JAGV - news) , Anglo American (LSE: AAL.L - news) and Antofagasta (LSE: ANTO.L - news) top three FTSE 100 losers, down 2-3 pct

** FTSE 350 mining index has fallen 36 pct so far this year

** Gold (Other OTC: GDCWF - news) prices have fallen more than 25 pct so far this year, hovering near 5-year lows, as spooked investors rush to and from the safe-haven metal

** Crude oil, gold, copper, silver, aluminum prices fall on Wed

** Citi analysts still retain bullish stance on sector and think dividends for the large miners are defendable at current commodity prices

** Large diversified miners BHP Billiton (NYSE: BBL - news) and Rio Tinto are the analysts top picks, considering their relative free cash flow generation and cost positions (abhiram.nandakumar.thomsonreuters.com@reuters.net)