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Metals and Mining

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  • METALS-London copper edges up as dollar turns lower Wednesday, 6 Aug 2014 | 11:33 PM ET

    *Papua New Guinea nickel mine halted due to unrest. SYDNEY, Aug 7- London copper edged up on Thursday, after touching a five-week trough in the previous session, as the dollar eased from nine-month peaks and relieved pressure on metals.

  • Qingdao port at centre of probe into alleged financing fraud. Beijing's anti-corruption campaign, which had focused on energy giant PetroChina earlier this year, has begun to turn to the mining sector and authorities are also investigating the suspected metal financing fraud at Qingdao port, China's third largest.

  • SYDNEY, Aug 7- London copper steadied on Thursday, after touching a five-week trough in the previous session, as the dollar eased from nine month peaks and relieved pressure on the metals complex. *The most-traded October copper contract on the Shanghai Futures Exchange slipped by 0.7 percent to 49,650 yuan a tonne.

  • Rio Tinto to see turnaround in aluminum: Analyst  Wednesday, 6 Aug 2014 | 6:33 PM ET

    Ahead of earnings, Gaurav Sodhi, Resources Analyst at Intelligent Investor, explains why the miner's aluminum business may beat expectations.

  • Aug 6- Alpha Natural Resources Inc reported a smaller-than-expected second-quarter loss as the cost of selling coal in eastern United States declined 6 percent from the first quarter.

  • *Price tag of development project estimated at $20 billion. BEYLA, Guinea, Aug 5- In a remote, southeastern corner of Guinea, the mist-shrouded Simandou mountain range rises above the lush forest.

  • Aug 6- Coal miner Alpha Natural Resources Inc reported a slightly bigger adjusted net loss for the second quarter as coal prices remained weak. Alpha Natural is also being hurt by poor rail service in Wyoming's Powder River Basin, which is preventing the company from cashing in on an uptick in demand for electricity-generating coal.

  • Coal miner Alpha Natural's quarterly loss widens Wednesday, 6 Aug 2014 | 7:06 AM ET

    Aug 6- Coal miner Alpha Natural Resources Inc reported a bigger quarterly loss as coal prices remained weak. Net loss widened to $512.6 million, or $2.32 per share, in the second quarter ended June 30, from $185.7 million, or 84 cents per share, a year earlier. Revenue dropped 21 percent to $1.05 billion.

  • SINGAPORE, Aug 6- London copper was near one-week lows on Wednesday and Shanghai prices fell one percent, reflecting investor caution as weakness in China's services sector cast doubts on its economic recovery. *The most-traded October copper contract on the Shanghai Futures Exchange dropped 510 yuan to 50,030 yuan per tonne.

  • NEW YORK, Aug 5- Glencore Plc, one of the world's largest mining companies, has asked a U.S. judge to dismiss it as a defendant from nationwide antitrust litigation over the alleged manipulation of aluminum prices.

  • TORONTO, Aug 5- A large pond holding waste matter at one of Imperial Metals Corp's gold and copper mine in central British Columbia in Western Canada has spilled gray sludge into waterways, sending the miner's shares down more than 40 percent on Tuesday.

  • NEW YORK, Aug 5- Glencore Plc, one of the world's largest mining companies, has asked a U.S. judge to dismiss it as a defendant from nationwide antitrust litigation over the alleged manipulation of aluminum prices.

  • *Price tag of development project estimated at $20 billion. BEYLA, Guinea, Aug 5- In a remote, southeastern corner of Guinea, the mist-shrouded Simandou mountain range rises above the lush forest.

  • Glencore seeks to exit U.S. aluminum price-fixing case Tuesday, 5 Aug 2014 | 10:17 AM ET

    In a Monday night filing with the U.S. District Court in Manhattan, Glencore said it lacks minimal contacts with New York, Michigan and California, where the alleged violations took place, and does not even conduct any business in those states.

  • *China July services growth slows to lowest in almost 9 yrs. LONDON, Aug 5- Copper prices slipped on Tuesday, under pressure from data showing growth in China's services sector slowed to its lowest level in nearly nine years, raising concerns about the demand outlook from the world's top metals consumer. Three-month copper 0.2 percent at $7,120 a tonne at 1014 GMT.

  • HARARE, Aug 5- A Zimbabwe- Russia joint venture company, Ruschrome Mining, plans to invest $1.6 billion in developing a platinum mine and constructing a smelter and refinery in the African state, the state-owned Herald newspaper reported on Tuesday.

  • LAUNCESTON, Australia, Aug 5- Prices for thermal and coking coal appear poised to diverge, with the power-plant fuel remaining mired in the doldrums and the steel-making ingredient posting modest gains. The 2011 high was reached after severe flooding in Queensland state, the main coking coal producer in top exporter Australia.

  • Fortescue Metals: Focusing on cost-savings  Tuesday, 5 Aug 2014 | 12:17 AM ET

    Nev Power, CEO at Fortescue Metals, says cost-savings are a key focus going forward. He also discusses how the sector is now better adapted to volatility in iron ore prices.

  • How BC Iron copes with volatile iron ore prices  Monday, 4 Aug 2014 | 10:36 PM ET

    Morgan Ball, MD at BC Iron, describes how the miner manages its operating costs amid declining iron ore prices.

  • Ken Brinsden, CEO of Atlas Iron, says the new mine in Western Australia is an exciting development as it will be the firm's largest asset thus far.