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Metals and Mining


  • 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.

  • Australia's gold miners drive M&A revival Monday, 25 May 2015 | 10:08 PM ET

    SYDNEY, May 26- Gold miners are spearheading a wave of merger and acquisition activity in Australia, riding a rebound in local gold prices to pounce on projects promising quick growth. We've seen more M&A in Australia in 2015 than in the past five years, " Ian Murray, chairman of Perth- based Gold Road Resources Ltd told Reuters, referring broadly to the level of...

  • Why Vedanta Resources is hopeful on Goa   Monday, 25 May 2015 | 9:46 PM ET
    Why Vedanta Resources is hopeful on Goa

    Tom Albanese, CEO of Vedanta Resources, explains why the metals and mining conglomerate hopes to resume iron ore mining in the province of Goa.

  • Vedanta CEO: Iron ore will always be in demand   Monday, 25 May 2015 | 9:43 PM ET
    Vedanta CEO: Iron ore will always be in demand

    Speculation about Chinese investments in Fortescue Metals reinforces the fact that the iron ore sector remains "very strategic," says Tom Albanese, CEO of Vedanta Resources.

  • SINGAPORE, May 26- Gold was stuck in a tight trading range above $1,200 an ounce on Tuesday, as the dollar firmed near a one-month peak against a basket of major currencies on prospects of higher U.S. interest rates this year. *Spot gold was steady at $1,206 an ounce by 0037 GMT. *The greenback was also boosted by weakness in the euro, which was pressured on worries Greece...

  • What China-Vale deal means for Australia   Monday, 25 May 2015 | 7:36 PM ET
    What China-Vale deal means for Australia

    Bill Marmion, Western Australian Minister for Mines and Petroleum, says China's decision to help bankroll a major expansion by Brazilian iron ore giant Vale is a "smart move."

  • WA mining minister: 'We welcome all investments'   Monday, 25 May 2015 | 7:33 PM ET
    WA mining minister: 'We welcome all investments'

    Bill Marmion, Western Australian Minister for Mines and Petroleum, says he welcomes all foreign investments in Western Australia. He also explains why the government doesn't support an iron ore inquiry.

  • Chinese cash a good thing for Fortescue Metals?   Monday, 25 May 2015 | 6:49 PM ET
    Chinese cash a good thing for Fortescue Metals?

    David Lennox, resources analyst at Fat Prophets, explains why the Australian government may be in favor of Chinese companies lifting their stakes in Fortescue Metals.

  • CALGARY, Alberta, May 25- A wildfire raging in northeastern Alberta has shut down around 233,000 barrels per day of production at three oil sands projects and is expected to remain out of control for "some while yet," a provincial government spokesman said on Monday. Over the weekend, Cenovus Energy Inc and Canadian Natural Resources Ltd evacuated staff and halted...

  • 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...

  • KIEV, May 24- Ukraine steelmaker Metinvest said on Sunday it has halted production at its Avdiyivka facility in eastern Ukraine, one of Europe's biggest coke plants, after heavy shelling caused major damage. Avdiyivka produces 40 percent of Ukraine's coke and any production outages will threaten output at the country's steel plants, including two of the...

  • Peru suspends civil liberties in region after 4th death Saturday, 23 May 2015 | 12:53 AM ET

    LIMA, Peru— Peru's government said it was suspending civil liberties in a southern coastal valley after a fourth death in violent anti-mining protests against a Mexican-owned copper mining project. One protester was killed and four injured Friday in clashes, which have escalated since farmers mounted resistance two months ago to the $1.4 million project...

  • CHARLESTON, W.Va.— Appalachian coal mining suffered a double blow Friday, as Murray Energy announced plans to lay off more than 1,800 miners, most from West Virginia, and Alpha Natural Resources told another 439 Mountain State miners they could be out of work. On Friday, St. Clairsville, Ohio- based Murray Energy said it told 1,417 workers at five West Virginia mines...

  • DENVER— Federal regulators are re-doing an environmental review for a Colorado coal mine after a judge threatened to shut it down unless they took a closer look at its indirect environmental impacts, including its contribution to climate change. The Office of Surface Mining, Reclamation and Enforcement, part of the Interior Department, posted a notice of the...

  • AXA axes 500 mln euros of coal investments Friday, 22 May 2015 | 11:43 AM ET

    PARIS, May 22- French insurer AXA said on Friday it was cutting its exposure to the coal industry, pulling out of investments worth 500 million euros. Bank of America said earlier this month it was cutting back its lending to the coal industry, while French bank Societe Generale said it was restricting its exposure to the sector. However oil major Royal Dutch...

  • LONDON, May 22- Copper prices fell on Friday on worries about demand in top consumer China, while nickel hit a four-week low after stocks in LME registered warehouses climbed to a record high. Three-month copper traded down at $6,200 a tonne in official rings from $6,260 at Thursday's close. "The fundamental situation in the copper market clearly speaks to higher...