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Metals and Mining

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  • --Clyde Russell is a Reuters columnist. Of course, it's easy to dismiss participants at the SGX Iron Ore Forum and the Asia Mining Congress in Singapore, the Asia Oil& Gas Conference in Kuala Lumpur and the LME Week Asia in Hong Kong as talking their books, or at least to their hopes. Where the cautious optimism was most evident was in the investment community, attending...

  • LONDON, May 28- The U.S. shale oil boom is turning global crude pricing on its head with the historical notion that light grades shall be priced at a premium to heavy ones quickly disappearing, according to predictions from producer group OPEC. The trend will have big implications for global oil flows, reducing revenues of light-oil-producing nations such as...

  • Norway oil fund to slash coal investments Thursday, 28 May 2015 | 1:20 AM ET

    STOCKHOLM— Norway has made a big move toward dropping investments in coal companies by its massive $900 billion sovereign wealth fund because of their impact on climate change. "Coal is by far the biggest source of greenhouse gases, so this is a big victory for the climate," said committee member Torstein Tvedt Solberg of the opposition Labor Party.

  • MAHANOY CITY, Pa.— When coal was king, its castle was the breaker— an imposing fortress that crushed, washed and sized billions of tons of Pennsylvania anthracite for use in factories, foundries and homes up and down the East Coast. The old breaker is about 100 miles northwest of Philadelphia in a region that holds nearly all of the nation's anthracite, a pure grade of...

  • MELBOURNE, May 28- London copper edged up on Thursday as the dollar eased on vague hopes of a Greek debt deal, but prices were curbed as seasonal demand passes its peak and by plentiful supply. *The most-traded August copper contract on the Shanghai Futures Exchange slipped 0.2 percent to 44,120 yuan a tonne. *Chile's environmental regulator filed charges against...

  • SINGAPORE, May 28- Gold struggled to recover from a two-week low on Thursday as a robust dollar and the prospects of higher U.S. interest rates dented demand for the metal. *Spot gold was little changed at $1,186.95 an ounce by 0048 GMT, not far from a two-week low of $1,183.76 reached in the previous session. *Greece and its international creditors have converged on...

  • OSLO, May 27- Norway's $900 billion sovereign wealth fund, the world's largest, should cut its exposure to the global coal industry and sell stakes in firms that focus on the sector, a key parliamentary committee said on Wednesday. Already under pressure from Norway's political establishment, the fund has been selling down its coal portfolio and said its...

  • OSLO, May 27- Norway's $900 billion sovereign wealth fund, the world's largest, should cut its exposure to the global coal industry and sell stakes in firms that focus on the sector, a key parliamentary committee said on Wednesday. Already under pressure from Norway's political establishment, the fund has been selling down its coal portfolio in recent quarters...

  • Two die in illegal gold mine near Tahoe project in Peru Wednesday, 27 May 2015 | 2:06 PM ET

    LIMA, May 27- A 17- year-old boy and a 21- year-old man working in an illegal gold mine in northern Peru near Tahoe Resources Inc Shahuindo project died after inhaling noxious fumes 500 feet underground, a public prosecutor said on Wednesday. Tahoe Resources did not immediately respond to requests for comment. Shahuindo was acquired by Tahoe Resources in...

  • AREQUIPA, Peru— Dozens of farmers and activists burned tires and briefly occupied a bridge in Peru's southern highlands Wednesday, defying troops sent to quell weeks of deadly protests against a Mexican-owned copper mining project. The first of two days of planned protests against the $1.4 billion Tia Maria copper mine was otherwise peaceful as hundreds of...

  • New Mexico regulators delay decision on power plant Wednesday, 27 May 2015 | 11:54 AM ET

    SANTA FE, N.M.— New Mexico regulators on Wednesday gave Public Service Co. of New Mexico more time to ink agreements with a mining company, further delaying a decision that will affect the future of a coal-fired power plant that provides electricity to customers around the Southwest. The Public Regulation Commission voted 4-1 in favor of an order that sets a new...

  • *Tin hits month low as Myanmar mines more. LONDON, May 27- Copper recovered from a one-month low hit earlier on Wednesday as progress in Greek debt talks pushed the dollar down versus the euro, while aluminium fell to its lowest in a year on rising production. Copper traded up 0.4 percent at $6,131 a tonne, after dropping to its weakest since late April at $6,075...

  • *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.

  • China coal production falls in first 4 months of year Wednesday, 27 May 2015 | 6:13 AM 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...

  • 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.