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Metals and Mining

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  • Dec 16- California pension plans would divest all assets related to the coal industry under a measure the leader of the state senate said he will propose to reduce support for an industry that critics blame for contributing to climate change. He had just returned from United Nations talks in Lima, Peru on international efforts to fight climate change.

  • *Gold dropped 2.5 pct on Monday after oil slide. LONDON, Dec 16- Gold rose around 2 percent on Tuesday, aided by a diving dollar and lower European stocks, after falling more than 2 percent in the prior session in its deepest 1- day slide in over a year. Gold lost 2.5 percent on Monday on a stronger dollar, its sharpest fall in a day since Dec. 2, 2013.

  • US STOCKS-Futures slide as oil, rouble crumble Tuesday, 16 Dec 2014 | 7:33 AM ET

    NEW YORK, Dec 16- U.S. stock index futures fell on Tuesday as a slide in the Russian rouble and crude oil prices sent traders fleeing risky assets. *Brent crude lost nearly 4 percent after hitting a low of $58.50 and U.S. crude was down 3 percent at $54.21 after hitting $53.80. *Plunging oil prices could heighten geopolitical tensions, trigger defaults by U.S. shale oil...

  • SHANGHAI/ HONG KONG, Dec 16- China will slash export tariffs for coal from Jan. 1 and adjust those for a range of other commodities as part of broader efforts to re-order trade and foster economic growth. Despite the sharp drop in coal export taxes, industry experts said there was little risk of Chinese supplies flooding the Asian Pacific seaborne market as...

  • FORT MCMURRAY, Alberta, Dec 16- The boomtown in the heart of Canada's oil sands region is getting nervous. Fort McMurray, surrounded by the boreal forest of northern Canada, has long drawn thousands with jobs that paid six-figure salaries to a region that produces more crude than anywhere else in the Western Hemisphere. Suncor Energy Inc, Total SA and Statoil ASA...

  • UPDATE 1-China Nov iron ore output down 7.5 pct on yr Monday, 15 Dec 2014 | 11:35 PM ET

    BEIJING, Dec 16- China's iron ore output plunged 7.5 percent in November from a year ago to 128.18 million tonnes, data from the statistics bureau showed on Tuesday, largely as a result of mandatory industry closures in northern China during the month. China ordered hundreds of steel mills and mining operations across northern China to suspend operations in...

  • *Strike at Antamina copper mine in Peru ends. NEW YORK, Dec 15- Prices for copper and other metals fell on Monday with declines in stock and energy markets spilling into metals as concerns grew that economic weakness elsewhere could soon hit the United States. "It's a global macro-slowdown worry that is hanging over these commodities markets," said analyst Edward...

  • BRUSSELS, Dec 15- European Union antitrust regulators on Monday approved the proposed merger of France's Lafarge and Swiss peer Holcim to create the world's biggest cement maker after they promised to sell a swathe of overlapping assets. Holcim and Lafarge said the package, with the exception of a minor change in France, was about the same as that announced in...

  • Dec 15- SunCoke Energy Inc, which produces coke used in steelmaking, said it would more than halve its annual coal production and cut 175 jobs due to weak prices. It said it was also looking at other options, including hiring contractors to mine coal or purchasing coal for its 720,000- tons Jewell Coke facility in Virginia. The company's coal mining operations are...

  • Dec 15- SunCoke Energy Inc, which produces coke used in steelmaking, said it would more than halve its annual coal production and cut 175 jobs due to weak prices. The company said it would reduce its annual coal production to 500,000 tons from 1.1 million. The company had about 1,344 employees in the United States and about 233 employees at its cokemaking facility...

  • LONDON, Dec 15- Nickel prices touched their highest level in a week on Monday over concerns that the typhoon season in the Philippines could hit supply and lead to shortages. "We've said for a long time that there should be a shortage of nickel during the early part of next year due to the seasonality in the Philippines," said Nic Brown, head of commodities research at...

  • SYDNEY, Dec 15- Australian gold miner Newcrest Mining Ltd said on Monday it was planning to split the development of its massive Golpu deposit in Papua New Guinea into two stages as it seeks to reduce spending and improve returns. Newcrest, which jointly owns the project with South Africa's Harmony Gold Mining Ltd, said it had approved a feasibility study to first...

  • SYDNEY, Dec 15- Rio Tinto and BHP Billiton are amassing vast copper holdings in a push to capture a greater chunk of the $140 billion world market, apparently aiming to squeeze out high-cost producers just as they did in the global iron ore business. "For both companies, this is about wielding the greatest influence possible over the global marketplace," said Gavin...

  • LIMA, Dec 14- Workers at the Peruvian copper and zinc mine Antamina have ended a strike that began last Wednesday and will restart work on Monday, according to the mine owners. The mine is controlled by BHP Billiton and Glencore Xstrata, which have 33.75 percent stakes. Teck has a 22.5 percent interest, and Mitsubishi Corp has 10 percent.

  • WASHINGTON/ TORONTO, Dec 12- The U.S. Congress has cleared the way for global miners Rio Tinto and BHP Billiton to swap land with the government, which will allow them to build a long-delayed $6 billion copper mine in Arizona. The land swap, first proposed nine years ago, was tucked into the annual defense policy bill passed by the Senate on Friday and the House last...

  • *ArcelorMittal booked block of iron ore trades in Sept. LONDON, Dec 12- Top steelmakers ArcelorMittal and Tata Steel are dipping their toes into iron ore derivatives, marking a crucial milestone in developing trade for the world's second-largest commodity after oil. Although the steelmakers continue to say publicly they do not use such products, sources said...

  • LONDON, Dec 12- Copper rose on Friday on hopes that China would unleash more stimulus measures after factory output growth slowed more than expected in the world' top metals consumer. China's economy showed further signs of fatigue in November, with factory growth slowing more than expected and investment expansion near a 13- year low, putting pressure on...

  • HAMBURG, Dec 12- Copper ore refining charges are likely to rise sharply in 2015 following initial contract settlements reported in China, the CEO of Europe's largest copper refiner Aurubis said on Friday. "I think the settlements in the new year will be around this overall level," said Aurubis CEO Bernd Drouven. Aurubis will also undertake a major maintenance and...

  • Dec 11- Freeport McMoRan Inc operations at its sole U.S. copper smelter have returned to normal production levels after it completed repairs on an electric furnace damaged in a fire at the Arizona facility, a spokesman said on Thursday. Freeport, the largest U.S. miner by market value and revenue, resumed processing copper concentrate at the site on Dec 7, said Eric...

  • *Indonesia Nov refined tin shipments fall to 8- yr low. KUALA LUMPUR/ LONDON, Dec 11- Aluminum touched an eight-week low and most other base metals also fell on Thursday on concerns about global growth after Chinese officials warned that the economy of the top metals consumer was vulnerable to more weakness. "I think the macro outlook is dire in a general sense, so...