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Metals and Mining

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  • Judge dismisses LME from aluminum price-fixing lawsuits Tuesday, 26 Aug 2014 | 10:12 AM ET

    NEW YORK, Aug 26- A U.S. judge has dismissed London Metal Exchange Ltd as a defendant from nationwide antitrust litigation over the alleged fixing of aluminum prices. District Judge Katherine Forrest in Manhattan said the LME was an "organ" of the UK government and immune from the lawsuit under the Foreign Sovereign Immunities Act.

  • LONDON, Aug 26- Escalating production costs and weaker copper prices took their toll on Chilean copper miner Antofagasta in the first half of this year, with its core profit sliding 11.5 percent. Like its peers, Antofagasta is battling falling copper grades and higher output costs, and is spending billions on projects to replace ageing mines and boost capacity.

  • LONDON, Aug 26- Copper prices rose to three-week highs on Tuesday, as hopes of stimulus measures by the European Central Bank gathered pace following signs of a weakening European economy.

  • Antofagasta CEO cautions on copper price     Tuesday, 26 Aug 2014 | 2:00 AM ET

    Diego Hernandez, CEO of Antofagasta, says he is "cautious" on the short-term copper price, but optimistic on the longer term prospect.

  • SINGAPORE, Aug 26- Gold was barely changed on Tuesday and held near its weakest level in two months as a firmer U.S. dollar and rallies in equities undermined the metal's appeal as an alternative investment. *Spot gold was little changed at $1,277.40 an ounce by 0032 GMT, within sight of a two-month low of $1,273.06 hit on Aug. 21.

  • Final Glance: Gold companies Monday, 25 Aug 2014 | 6:24 PM ET

    Barrick Gold Corp. fell$. 23 or 1.3 percent, to $18.01. Gold Fields unchanged at $4.25. Newmont Mining Corp. fell$. 41 or 1.6 percent, to $25.98.

  • Final Glance: Coal companies Monday, 25 Aug 2014 | 6:24 PM ET

    Arch Coal fell$. 02 or. 6 percent, to $3.13. Consol Energy Inc. fell$. 79 or 2.0 percent, to $39.39. Peabody Energy fell$. 38 or 2.4 percent, to $15.73.

  • Final Glance: Silver companies Monday, 25 Aug 2014 | 6:24 PM ET

    Hecla Mining Co. fell$. 06 or 1.9 percent, to $3.16. Pan American Silver Corp. fell$. 33 or 2.3 percent, to $13.76. Silver Standard Resources Inc. fell$. 30 or 3.3 percent, to $8.79.

  • JOHANNESBURG/ LONDON, Aug 25- The chief executive of platinum producer Lonmin denied assertions from mining industry sources on Monday that the company aimed to cut around 5,700 jobs as part of a drive to restore profits after a five-month strike.

  • Early Glance: Coal companies Monday, 25 Aug 2014 | 10:37 AM ET

    Arch Coal rose$. 03 or 1.0 percent, to $3.18. Consol Energy Inc. fell$. 16 or. 4 percent, to $40.02. Peabody Energy fell$. 10 or. 6 percent, to $16.01.

  • Early Glance: Gold companies Monday, 25 Aug 2014 | 10:37 AM ET

    NEW YORK— Shares of some top gold companies are down at 10 a.m.:. Barrick Gold Corp. fell$. 13 or. 7 percent, to $18.11. Newmont Mining Corp. fell$. 31 or 1.2 percent, to $26.08.

  • Early Glance: Silver companies Monday, 25 Aug 2014 | 10:37 AM ET

    Hecla Mining Co. fell$. 02 or. 6 percent, to $3.20. Pan American Silver Corp. fell$. 13 or. 9 percent, to $13.96. Silver Standard Resources Inc. fell$. 12 or 1.3 percent, to $8.97.

  • LAUNCESTON, Australia, Aug 25- Something doesn't quite add up with China's rising steel production, but falling coal output and imports so far this year. China's raw steel output was 480.76 million tonnes in the first seven months of 2014, up 2.7 percent from the same period a year earlier, according to data from the National Bureau of Statistics.

  • SYDNEY, Aug 25- Shanghai copper hit its highest in around seven weeks on Monday, underpinned by steady consumer demand as the slow summer season fades, while London markets were shut for a bank holiday. *The most-traded October copper contract on the Shanghai Futures Exchange edged up 0.3 percent to 50,710 yuan a tonne.

  • US mining legend behind Indonesian mining deal Sunday, 24 Aug 2014 | 7:31 PM ET
    A miner sprays water in Indonesia.

    As negotiations to resolve a bitter dispute teetered on the brink of collapse, Freeport-McMoRan chairman James "Jim Bob" Moffett flew to Jakarta for last-ditch talks.

  • Canadian company eyes new mine in Alaska Sunday, 24 Aug 2014 | 7:11 PM ET

    KETCHIKAN, Alaska— A Canadian company is moving forward with plans for a new rare-earth metals mine at the end of Kendrick Bay on Prince of Wales Island, sending a team to drill and spending millions sampling rock and studying the area.

  • Indonesia's chief economics minister, Chairul Tanjung, said he had got to a point where he felt only talking directly to the 76- year-old U.S. mining legend might break a deadlock in the six-month row, which had already cost Southeast Asia's top economy more than $1 billion and put thousands of jobs at risk.

  • Protesters against brown coal form human chain Saturday, 23 Aug 2014 | 11:36 AM ET

    BERLIN— Several thousand people have formed a human chain across the German-Polish border to protest the expansion of open-cast mining for brown coal in the region.

  • Final Glance: Silver companies Friday, 22 Aug 2014 | 6:02 PM ET

    Hecla Mining Co. fell$. 04 or 1.2 percent, to $3.22. Pan American Silver Corp. rose$. 06 or. 4 percent, to $14.09. Silver Wheaton rose$. 06 or. 2 percent, to $24.90.

  • Final Glance: Coal companies Friday, 22 Aug 2014 | 6:02 PM ET

    Arch Coal fell$. 05 or 1.6 percent, to $3.15. Consol Energy Inc. rose$. 26 or. 7 percent, to $40.18. Peabody Energy fell$. 21 or 1.3 percent, to $16.11.