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Metals and Mining

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  • CALGARY, Alberta, May 28- Firefighters battled wildfires in northern Alberta, Canada's biggest crude-producing region, for a sixth day on Thursday, with two blazes near oil sands facilities still out of control. That blaze has forced Cenovus Energy Inc and Canadian Natural Resources Ltd to shut down production and evacuate staff from their Foster Creek and...

  • The EPA last year proposed restrictions that would essentially block development of the massive gold-and-copper mine near the headwaters of a premier salmon fishery in southwest Alaska. As part of the litigation, Holland ordered in December that the EPA stop all work related to the process pending a ruling on the merits of the case. In 2011, the EPA, petitioned...

  • May 28- Alpha Natural Resources Inc must pay for the legal defense of Donald Blankenship, who is facing a criminal trial over a coal mining disaster in 2010, when he headed Alpha's Massey Energy Co business, a Delaware judge ruled on Thursday. The indictment also said that after the explosion, he misled the U.S. Securities and Exchange Commission about Massey's...

  • TORONTO, May 28- Ivanhoe Mines Ltd's chief executive said on Thursday that he will meet with officials from the Democratic Republic of Congo this weekend to address any "misunderstandings" around his company's deal to sell nearly half of its Komoa copper project. The government opposes the transaction, according to media reports, because it was not consulted on...

  • Huge drop in West Virginia coal production forecast Thursday, 28 May 2015 | 11:02 AM ET

    CHARLESTON, W.Va.— West Virginia University researchers predict that state coal production will drop 39 percent compared with the industry's last high point in 2008— less-than-encouraging news for more than 1,800 coal miners who learned last week they would likely lose their jobs. The report rattles off a combination of familiar economic, geological and...

  • SYDNEY, May 28- Australian iron ore magnate Gina Rinehart's eldest daughter won control of the $3 billion dollar family trust on Thursday in a judgment critical of Rinehart's former control of the fund and attempts to block the long-running legal dispute. South Korea's POSCO, Japan's Marubeni Corp and Taiwan's China Steel Corp also have stakes in the mine,...

  • --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.