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Metals and Mining Diversified Metals and Mining

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  • Aug 27- Diversified U.S. miner and energy producer Freeport-McMoran Inc said it would cut 10 percent of its U.S. mining workforce and lowered the amount it plans to spend on mining in 2016 by 25 percent to $2 billion as commodity prices continue to fall. The company, which operates seven open-pit copper mines in North America, plans to suspend mining at its Miami...

  • Commodity and mining firms should be cutting costs: Fund manager

    Jessica Ground, U.K. equities fund manager for Schroders, discusses what to look for in the commodities sector.

  • SAO PAULO, Aug 19- Cia Siderúrgica Nacional SA, the debt-laden Brazilian steelmaker, is likely to decide between global advisory firms Rothschild and Lazard Ltd to coordinate the sale of some non-essential assets, a source with knowledge of the situation said on Wednesday. Rothschild has topped mergers and acquisitions advisory in Brazil so far this year,...

  • Where are the opportunities in mining stocks? Thursday, 13 Aug 2015 | 2:00 AM ET
    Where are the opportunities in mining stocks?

    Antonin Jullier, global head of equity trading strategy at Citi, talks about which mining stocks are attractive to investors and how commodities may be impacted by China's yuan devaluation.

  • Freeport-McMoRan outlines $1 bln equity issue plan Monday, 10 Aug 2015 | 1:21 PM ET

    TORONTO, Aug 10- Freeport-McMoRan Inc may issue up to $1 billion in common shares, the diversified miner said on Monday in a regulatory filing, a decision that highlights how sliding commodity prices are deepening woes of mining and energy companies. Analysts and investors cheered the move, and shares in Freeport rose more than 6 percent in midday trading on the...

  • SYDNEY, Aug 6- Global miner Rio Tinto on Thursday posted sharply lower first-half profits on sliding metal prices and pledged $1 billion in cost cuts this year. Miners have been among the worst performers on London's FTSE index of blue-chip companies so far this year, hit by oversupply and slowing growth in major consumer China. The FTSE 350 mining index has...

  • Is now the time to buy mining stocks? Thursday, 6 Aug 2015 | 3:15 AM ET
    Is now the time to buy mining stocks?

    Paul Gait, senior research analyst for metals and mining at Sanford Bernstein, talks about the mining sector as commodity prices continue to fall.

  • SAO PAULO, Aug 5- The board of Vale SA, the world's largest iron ore producer, on Wednesday approved plans to raise 1 billion reais from the sale of debt notes to expand the railway system at its Carajas ore mine. Credit ratings agency Moody's Investors Service rated the senior unsecured notes at Baa2, the second-lowest investment-grade ranking, with a "negative"...

  • Aug 5- Diversified U.S. miner and energy producer Freeport-McMoRan Inc said it would cut its budget for oil and gas operations and defer investments in several long-term projects. Shares of the company rose 3.7 percent to $11.45 in premarket trading. The company had $20.9 billion in debt and $466 million in cash as of June-end.

  • A worldwide slump in industry lies behind this year’s tumble in precious and base metal prices, a commodities expert has told CNBC.

  • Is there a global industrial recession? Monday, 3 Aug 2015 | 11:30 AM ET
    Is there a global industrial recession?

    Colin Hamilton, head of commodities research at Macquarie, discusses the commodities market and the collapse in prices for metals such as copper and gold.

  • Copper heads for bear market as confidence vanishes Monday, 3 Aug 2015 | 9:44 AM ET

    Copper tumbled to a six-year low on Monday, as weak manufacturing data and the selloff in Chinese equities continued to weigh on industrial metals.

  • TORONTO/ JAKARTA, July 25- Shares of diversified miner and energy producer Freeport-McMoRan sank for a second session on Friday, as uncertainty around Indonesian mining contracts added to worries about spending plans, high debt and falling commodity prices. "They haven't completed the terms," Coal and Minerals director general Bambang Gatot told reporters...

  • TORONTO, July 24- Shares of diversified miner and energy producer Freeport-McMoRan sank for a second session Friday, as uncertainty around Indonesian mining contracts added to worries about spending plans, high debt and falling commodity prices. Over the past two days, Freeport's market capitalization has shed some $2.9 billion, dropping to $12.75 billion...

  • Anglo American warns on further pain for commodities Friday, 24 Jul 2015 | 4:22 AM ET
    Heavy equipment is used used to mine copper at the Anglo American PLC Los Bronces (Minera Sur Andes) copper mine in central Chile,

    One of the world's largest miners, Anglo American maintained its interim dividend on Friday as a deep sell-off in metals hurt its first half profit.

  • *Maintains interim dividend of $0.32 per share. *Takes non-cash impairment of $3.5 billion. LONDON, July 24- Global mining company Anglo American will shed about 6,000 jobs in the next couple of years as it fights rapidly deteriorating market conditions that have dragged its shares down to a 13- year low this week.

  • VANCOUVER/ TORONTO, July 23- North American mining stocks slumped on Thursday, stripping two global producers of hundreds of millions of dollars in value, as market-beating results failed to appease investors fed up with bloated debt and hefty capital commitments. The selloff, led by Freeport-McMoRan and Teck Resources, set the stage for a rough reporting...

  • VANCOUVER/ TORONTO, July 23- Shares of global miners Freeport-McMoRan Inc and Teck Resources Ltd took a pounding on Thursday as investors worried about balance sheets stretched by debt and capital commitments as metal prices continued to tumble. Investors must carefully scrutinize mining stocks and their debt loads, said Darren Lekkerkerker, co-manager of...

  • VANCOUVER/ TORONTO, July 23- Shares of global miners Freeport-McMoRan Inc and Teck Resources Ltd took a pounding on Thursday as investors worried about balance sheets stretched by debt and capital commitments as metal prices continued to tumble. Investors must carefully scrutinize mining stocks and their debt loads, said Darren Lekkerkerker, co-manager of...

  • TORONTO, July 23- Diversified U.S. miner and energy company Freeport-McMoran Inc reported a sizeable second-quarter net loss on Thursday, reflecting a big write-down for the value of its oil and gas properties and slumping prices for the copper, gold and oil that it produces. The Phoenix, Arizona- based company reported a net loss attributable to shareholders of...