Arch Coal fell$. 03 or 1.2 percent, to $2.06. Consol Energy Inc. fell$. 14 or. 4 percent, to $37.32. Peabody Energy rose$. 01 or. 1 percent, to $12.04.» Read More
Klaus Kleinfeld, CEO of Alcoa, says the group has made good progress on its cost curve to be more independent of where metal prices are and discusses risks.
CNBC caught up with leading figures in the metal industry at the Platts Global Metal Awards to discuss the sector, exchange rates and key risks.
Klaus Kleinfeld, CEO of Alcoa, says the group's facilities in Russia are operating normally and explains that he's not at SPIEF because the political dimension of the crisis "trumps other interests."
SINGAPORE, May 22- Gold slipped on Thursday as the top bullion-backed fund posted its biggest outflow in three weeks and after the U.S. *Spot gold had fallen $1 to $1,290.40 an ounce by 0024 GMT. *Rio Alto Mining Ltd said it would buy Sulliden Gold Corp Ltd in a deal valued at about C $300 million, creating a gold miner focused on Peru.
May 21- Sanchez Energy Corp said it would buy oil and gas properties in the Eagle Ford region of south Texas from Royal Dutch Shell Plc for about $639 million cash as the Dutch oil company looks to pare its exposure to U.S. shale. Shell and other big peers including BP Plc have had less success than smaller companies tapping North America's vast shale formations.
*Palladium hits fresh near three-year highs. NEW YORK/ LONDON, May 21- Gold fell on Wednesday as the dollar climbed and equities maintained gains after minutes of the U.S. Palladium also rose to a near three-year high and platinum rose near a two-month high, as labor strikes in top producer South Africa dragged on for a 17th week.
*To pay 0.525 in stock, equals C $1.12 per share. May 21- Canada's Rio Alto Mining Ltd said on Wednesday it would buy Sulliden Gold Corp Ltd for about C $300 million in an all-stock deal to create a Peru- focused gold miner.
LONDON, May 21- Global crude steel output rose at its second-fastest level this year in April, responding to an uptick in demand in Europe and the Middle East, though higher output in China added to oversupply and kept prices depressed.
BOGOTA, May 21- Colombia's oil and mining industries, hit by lower output and growing resistance to some key projects, are pleading for help from the next government to streamline slow and erratic regulations.
May 21- Rio Alto Mining Ltd said it would buy Sulliden Gold Corp Ltd in a deal valued at about C $300 million, creating a gold miner focused on Peru, the fifth biggest gold producer in the world. The offer values Sulliden at C $1.12 per share, representing a 43 percent premium to the stock's Tuesday close on the Toronto Stock Exchange.
May 21- Rio Alto Mining Ltd said it would buy Sulliden Gold Corp Ltd in a deal valued at about C $300 million, creating a gold miner focused on Peru. The deal value excludes the stake Sulliden shareholders will get in a new company that will hold Sulliden's stake in a East Sullivan prospect in Val-d'Or, Quebec.
Platinum rose to near a two-month high, and palladium touched a near three-year high as labour strikes in top producer South Africa dragged on for a 17th week and after an industry report said a shortage of both metals was set to widen this year.
SYDNEY, May 21- BHP Billiton said on Wednesday it may seek government intervention to avert industrial action by tugboat workers at the Port Hedland iron ore port that threatens to disrupt hundreds of millions of dollars in exports.
HONG KONG, May 21- China shares rose on Wednesday, led by coal stocks after a news report said the National Development and Reform Commission plans to establish two or three national markets for coal trading. Datong Coal Industry Co climbed 9.9 percent and Houlinghe Opencut Coal Industry Corporation Ltd of Inner Mongolia gained 5.6 percent.
LAUNCESTON, Australia, May 21- Gold bulls tend to flit from one thing to the next in their search for a reason for the precious metal to rally, with the latest hope being Narendra Modi's election victory in India.
SINGAPORE, May 21- Platinum edged higher on Wednesday as labor strikes in top producer South Africa dragged on for a 17th week and after an industry report said a shortage of the metal was set to widen this year. Gold continued to trade in a tight range below $1,290 an ounce on outflows from gold-backed funds.
Andrew Michelmore, CEO of MMG, explains how its acquisition of the Las Bambas project will help it become a $20 billion company.
Andrew Michelmore, CEO of MMG, explains why the company chose to buy Glencore Xstrata's undeveloped copper deposit Las Bambas for $5.9 billion.
LONDON, May 20- Global miners and commodity traders are using multiple strategies to lock in favorable rates for shipping costs, anticipating a freight market recovery after years of turmoil.
*Platinum awaits court ruling on mining company actions. *WGC report shows India, China demand in Q1 dropped. LONDON, May 20- Platinum prices rose back towards two-month highs on Tuesday as the longest and costliest miners' strike in South African history ground on, while gold steadied as gains in the dollar held it near key chart support.