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Metals and Mining

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  • *Copper falls as dollar rally resumes. LONDON, May 27- Copper hit a one-month low on Wednesday as the dollar resumed its rally after a brief pause earlier in the session, while aluminum was at its weakest in a year on rising supplies. Copper traded down 0.4 percent at $6,083 a tonne, after dropping to its weakest since late April at $6,075.

  • METALS-Copper steadies, aluminum hits lowest in a year Wednesday, 27 May 2015 | 6:48 AM ET

    *Copper reverses losses as dollar rally fades. LONDON, May 27- Copper reversed the previous sessions losses on Wednesday as the dollar retreated, while aluminum hit a year low amid rising supplies. Copper was little changed at $6,108 a tonne, after dropping to its weakest since late April in the previous session.

  • SINGAPORE, May 27- India-focused Vedanta Resources Plc will aim to lift a court-imposed cap on its iron ore output in the country's top state for exporting the commodity, as it prepares to resume mining there in October after a three-year lull. A mining ban that had been in place in the state of Goa since September 2012 was lifted last year, but the resumption of...

  • *Copper seen climbing to $6,350 near term as supply supports- UBS. Copper is getting little help from the lacklustre economic outlook in top consumer China. "Even if you get some early signs which show you some improvement... the macro story in China doesn't look good," said analyst Dominic Schnider of UBS Wealth Management in Hong Kong.

  • China coal production falls in first 4 months of year Tuesday, 26 May 2015 | 10:22 PM ET

    BEIJING— Coal production in China, the world's biggest coal-consuming nation, fell by 6 percent in the first four months of this year as the economy slows and the government makes a concerted push to reduce carbon emissions. China uses roughly half of all of the world's coal production for power generation, heating and industry. Earlier this month, the...

  • MELBOURNE, May 27- London copper climbed away from a four-week low on Wednesday as investors covered short positions, but gains were capped by a stronger dollar after improving U.S. economic data burnished the case for a rate rise soon. *Three-month copper on the London Metal Exchange had edged up 0.5 percent to $6,134 a tonne by 0108 GMT, after around 1- percent...

  • Is iron ore's surge above $60 sustainable?   Tuesday, 26 May 2015 | 7:44 PM ET
    Is iron ore's surge above $60 sustainable?

    Warren Gilman, chairman & CEO of CEF Holdings, expects prices of iron ore to be beaten down soon, as demand remains "ok to sluggish" amid a supply glut.

  • CALGARY, Alberta, May 26- Statoil ASA, MEG Energy Corp and Cenovus Energy Inc evacuated hundreds of workers from three oil sands projects in northeastern Alberta on Tuesday as wildfires raged through the key crude-producing region. The Alberta government said there are 70 forest fires now burning in the province, with 20 considered out of control.

  • VANCOUVER/ TORONTO May 26- Barrick Gold Corp's first step to long-promised partnerships with China, as well as progress in reaching an ambitious debt-cutting goal, are turning skeptical investors warmer toward the world's biggest gold miner. Barrick said on Tuesday it would sell a stake in its Porgera mine in Papua New Guinea mine to China's Zijin Mining Group,...

  • CALGARY, Alberta, May 26- Statoil ASA and MEG Energy Inc evacuated non-essential staff from oil sands projects in northeastern Alberta on Tuesday as wildfires raged through the key crude-producing region. The Alberta government said there are 66 forest fires now burning in the province, with 19 considered out of control. Statoil evacuated around 110...

  • CALGARY, Alberta, May 26- MEG Energy Inc said on Tuesday it was suspending operations at its 80,000 barrel per day Christina Lake oil sands project and evacuated non-essential staff as wildfires rage through northeastern Alberta. At least 233,000 barrels per day of oil sands production, nine percent of Alberta's total oil sands output, has been suspended in...

  • May 26- Cement companies Holcim and Lafarge said on Tuesday that they have reached a binding agreement under which Irish cement maker CRH Plc will buy some of their assets for 6.5 billion euro. The deal, which will transform the Irish company into the world's third-biggest building materials supplier, was announced in February and includes assets in Europe,...

  • TORONTO, May 26- Barrick Gold Corp said on Tuesday it has forged a strategic tie-up with Zijin Mining Group Co and agreed to sell the Chinese miner a stake in a mine in Papua New Guinea as a first step toward further collaboration. Thornton, who took over the reins at Barrick from Peter Munk in 2014, spent years working in China after stepping down from a senior role at...

  • LONDON, May 24- For Rivka Micklewaite and fellow students, securing a pledge this week from Oxford University to avoid direct investments in companies producing coal or tar sands is just the beginning. The second-year engineering student from Balliol College is not alone. Norway's $900 billion sovereign wealth fund and the Church of England are among recent...

  • May 26- Canadian miner Barrick Gold Corp said it would sell 50 percent stake in its unit that manages the Porgera gold mine in Papua New Guinea to China's Zijin Mining Group Co Ltd for $298 million in cash. The deal, a part of Barrick's plan to reduce net debt by at least $3 billion by the end of the year, comes a day after the world's largest bullion producer sold its...

  • May 26- Canadian miner Barrick Gold Corp said it would sell 50 percent stake in its unit that manages the Porgera gold mine in Papua New Guinea to China's Zijin Mining Group Co Ltd for $298 million in cash. The unit, Barrick Niugini, owns 95 percent in the Porgera mine and the Papua New Guinea owns the rest. After the sale, Zijin and Barrick will jointly control Barrick...

  • *Dollar rally weighing on oil could run further- Morgan Stanley. *OPEC meets next week; Iran sees no output change. The dollar could rally further, Morgan Stanley said, adding to a growing list of headwinds crude faces that include rising OPEC supply.

  • *U.S. producers to ramp up output with WTI at $60- Goldman Sachs. *Rising dollar, falling oil start of new trend- Morgan Stanley. "We believe that should West Texas Intermediate prices remain near $60 a barrel, U.S. producers will ramp up activity, given improved returns, with costs down by at least 20 percent," Goldman Sachs said.

  • Xanadu Mines: Why we're focusing on Mongolia   Tuesday, 26 May 2015 | 12:47 AM ET
    Xanadu Mines: Why we're focusing on Mongolia

    Andrew Stewart, CEO of Xanadu Mines, discusses its flagship Kharmagtai copper-gold project in Mongolia.

  • Who's eyeing Fortescue Metals?   Monday, 25 May 2015 | 11:11 PM ET
    Who's eyeing Fortescue Metals?

    Robert Brierley, head of Research at Patersons Securities, says China's Baosteel could be interested to take up a stake in Fortescue Metals so as to secure future supplies.