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Metals and Mining

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  • LAUNCESTON, Australia, Nov 20- China's energy targets for 2020, if assumed to be credible and achievable, give a clear indication of likely winners and losers. However, all the indications from China's leaders have been that the world's largest polluter is serious about tackling air quality and curbs on coal form a major part of this effort.

  • NEW YORK, Nov 19- Goldman Sachs will wind down its small uranium trading business after failing to find a buyer and may sell its Colombian coal mine subsidiary, two of its most controversial commodity divisions, according to a Senate report released on Wednesday. It included a lengthy summary of Goldman's activities in the niche uranium market, which began when...

  • *Platinum briefly dips to discount to gold. SINGAPORE, Nov 20- Gold struggled to recover from overnight losses on Thursday as the Federal Reserve's optimism over the U.S. economy boosted the dollar, and a poll showed softer support for a Swiss referendum that would have forced the central bank to boost its gold reserves. Spot gold eased 0.2 percent to $1,180.99 an...

  • METALS-London nickel hits 5-week high as shortfall eyed Wednesday, 19 Nov 2014 | 10:59 PM ET

    *Coming up: euro zone Markit flash mfg PMI at 0900 GMT. SYDNEY, Nov 20- London nickel hit a five-week high on Thursday on expectations of a shortage of ore in China, as stainless steel makers run down their raw material stockpiles following an Indonesian ban on ore exports. "The chances of a supply gap are fairly high... but I don't think it's going to be as acute as consensus...

  • Why are miners ramping up iron ore output?     Wednesday, 19 Nov 2014 | 10:38 PM ET

    John Wilson, Stock Broker at Morgans Financial, says persisting demand and false expectations for prices to remain stable are leading big miners to ramp up production.

  • Final Glance: Coal companies Wednesday, 19 Nov 2014 | 6:02 PM ET

    Arch Coal fell$. 21 or 8.4 percent, to $2.30. Consol Energy Inc. rose$. 16 or. 4 percent, to $40.77. Peabody Energy fell$. 47 or 4.2 percent, to $10.79.

  • Final Glance: Silver companies Wednesday, 19 Nov 2014 | 6:02 PM ET

    Hecla Mining Co. fell$. 17 or 6.6 percent, to $2.40. Pan American Silver Corp. fell$. 61 or 5.6 percent, to $10.30. Silver Standard Resources Inc. fell$. 43 or 7.3 percent, to $5.44.

  • Final Glance: Gold companies Wednesday, 19 Nov 2014 | 6:02 PM ET

    Barrick Gold Corp. fell$. 83 or 6.2 percent, to $12.46. Gold Fields fell$. 26 or 6.0 percent, to $4.09. Newmont Mining Corp. fell$. 79 or 4.0 percent, to $19.11.

  • NEW YORK, Nov 19- Goldman Sachs will wind down its small uranium trading business after failing to find a buyer and may sell its Colombian coal mine subsidiary, two of its most controversial commodity divisions, according to a new Senate report released on Wednesday. It included a lengthy summary of Goldman's activities in the niche uranium market, which began...

  • Report: Role of 3 big banks in commodities risky Wednesday, 19 Nov 2014 | 5:10 PM ET

    WASHINGTON— Three big Wall Street banks that have owned commodities such as aluminum exposed themselves to risk and in some cases manipulated prices in a way that raised costs for consumers, a Senate investigation has found. The heavy involvement of Goldman Sachs Group Inc., JPMorgan Chase& Co. and Morgan Stanley in the business of storing and moving...

  • US stocks drift lower after release of Fed minutes Wednesday, 19 Nov 2014 | 4:14 PM ET

    Stocks closed lower for the first time this week as the market edged below the record high it set the day before. Cliffs Natural Resources sank 20 percent on news that the mining company is pursuing exit options for its Eastern Canadian iron ore operations. The price of oil fell three cents to $74.58 a barrel in New York.

  • Nov 19- Miner Cliffs Natural Resources Inc may file for creditor protection in Canada to insulate itself from closure costs and liabilities at its Canadian operations, analysts said. On Wednesday, Cliffs said it might have to close its Bloom Lake iron ore mine in Quebec at a cost of up to $700 million as it struggles to find funds to expand the project.

  • Midday Glance: Gold companies Wednesday, 19 Nov 2014 | 1:31 PM ET

    NEW YORK— Shares of some top gold companies are down at 1 p.m.:. Barrick Gold Corp. fell$. 31 or 2.3 percent, to $12.98. Newmont Mining Corp. fell$. 17 or. 9 percent, to $19.73.

  • Midday Glance: Silver companies Wednesday, 19 Nov 2014 | 1:31 PM ET

    Hecla Mining Co. fell$. 07 or 2.9 percent, to $2.50. Pan American Silver Corp. fell$. 19 or 1.7 percent, to $10.72. Silver Standard Resources Inc. fell$. 10 or 1.7 percent, to $5.77.

  • Midday Glance: Coal companies Wednesday, 19 Nov 2014 | 1:31 PM ET

    Arch Coal fell$. 12 or 4.6 percent, to $2.40. Consol Energy Inc. rose$. 10 or. 2 percent, to $40.71. Peabody Energy fell$. 43 or 3.8 percent, to $10.84.

  • European shares erase gains ahead of Fed minutes Wednesday, 19 Nov 2014 | 12:35 PM ET

    LONDON, Nov 19- European shares ended flat after hitting a seven-week high earlier on Wednesday, with investors trading cautiously ahead of minutes from the most recent Federal Reserve policy meeting. The market also faced pressure from a sharp decline in mining shares after China's iron ore futures dropped nearly 5 percent to a record low.

  • Early Glance: Silver companies Wednesday, 19 Nov 2014 | 12:01 PM ET

    Hecla Mining Co. fell$. 10 or 3.9 percent, to $2.47. Pan American Silver Corp. fell$. 33 or 3.0 percent, to $10.58. Silver Standard Resources Inc. fell$. 22 or 3.7 percent, to $5.65.

  • Early Glance: Gold companies Wednesday, 19 Nov 2014 | 12:00 PM ET

    NEW YORK— Shares of some top gold companies are mixed at 10 a.m.:. Barrick Gold Corp. fell$. 26 or 2.0 percent, to $13.03. Newmont Mining Corp. fell$. 18 or. 9 percent, to $19.72.

  • Early Glance: Coal companies Wednesday, 19 Nov 2014 | 12:00 PM ET

    Arch Coal fell$. 08 or 3.2 percent, to $2.43. Consol Energy Inc. fell$. 15 or. 4 percent, to $40.46. Peabody Energy fell$. 27 or 2.4 percent, to $10.99.

  • *May close Bloom Lake mine in Quebec. Nov 19- Cliffs Natural Resources Inc said it may have to close its Bloom Lake iron ore mine in Quebec at a cost of $600 million to $700 million as it struggles to find investment to expand the project. Analysts said the cost of shutting down Bloom Lake, which Cliffs expects to recognize over five years, was a major concern for...