Metals and Mining


  • Paul Gait, senior research analyst at Sanford Bernstein, says the African copper belt is an exciting opportunity for miners, and highlights that Glencore Xstrata is one of the first to movers in this space.

  • LAUNCESTON, Australia, May 6- Baosteel Resources' motivation for a hostile $1 billion takeover of Australia's Aquila Resources is to jumpstart a stalled iron ore project. Baosteel is seeking to gain control of Aquila in order to get the junior company's half-share of the $7 billion West Pilbara Iron Ore Project, located in the north of Western Australia state.

  • Fortescue CEO: We aren't worried about China Monday, 5 May 2014 | 11:44 PM ET
    A driver inspects an earth mover at Fortescue Metals Group Ltd.'s Cloudbreak iron ore operation in the Pilbara region of Western Australia, on Monday, July 25, 2011

    The use of commodities as collateral in China has sparked a slump in iron ore prices, but Fortescue's CEO says volatility will blow over by year-end.

  • SINGAPORE, May 6- Gold was trading near its highest in three weeks on Tuesday, holding gains from the last two sessions as more intense fighting in Ukraine lifted the metal's safe-haven appeal. *Goldcorp Inc has resumed operations at its Los Filos mine in Mexico after reaching a new five-year occupancy agreement with local landowners.

  • Cheboygan, Michigan, May 5- Lawyers for Encana Corp pleaded no contest on Monday to charges the company attempted to commit antitrust violations in Michigan during 2010 and agreed to pay a $5 million civil fine at a court hearing.

  • *Aurizon sees West Pilbara Iron Ore producing from 2017-18. Monday's unsolicited A $1.14 billion offer to take over Aquila Resources Ltd could open up a new Australian iron ore export region to supply Asian steelmakers, by jumpstarting the $7 billion West Pilbara Iron Ore project, half-owned by Aquila.

  • MELBOURNE/ SYDNEY, May 2- Shares in Australia's Padbury Mining Ltd plunged as trading in the stock resumed after its plans for a deal to build a $6.5 billion iron ore port and rail network collapsed within a month of being announced.

  • SYDNEY, May 2- London copper was little changed on Friday but was set to log its biggest weekly loss in seven weeks after the United States withdrew liquidity, with markets expected to remain quiet due to a holiday in China and ahead of a U.S. jobs report. Copper prices have dropped 1.9 percent this week.

  • NEW YORK/ LONDON, May 1- Gold fell on Thursday on fresh outflows from gold exchange-traded funds, extending losses from the previous day when the Federal Reserve reinforced its view in the U.S. economy's prospects and reduced its monthly bond purchases, as expected.

  • May 1- Alpha Natural Resources Inc and Walter Energy Inc cut their production forecast for metallurgical coal, joining rival U.S. coal miners in tightening supply in a bid to drive up prices.

  • May 1- Coal miners Walter Energy Inc and Alpha Natural Resources Inc said they expected to ship fewer tons of steel-making coal as prices and demand remain low. Alpha Natural and Walter Energy's shares were down 3 percent before the bell.

  • LONDON, May 1- The impasse between Rio Tinto and the Mongolian government over a giant copper mine in the country should be resolved by September, with underground mining beginning within two years, a government official told Reuters.

  • MEXICO CITY, April 30- Mexican mining company Industrias Penoles on Wednesday said its profit in the first quarter fell 42 percent from the same period last year as sales sank due to lower metals prices.

  • GENEVA, April 30- Guinea's President Alpha Conde said on Wednesday he hoped Brazilian miner Vale would bid to reclaim two iron ore permits, because the company had not been involved in the alleged corruption that led to their cancellation.

  • LONDON, April 30- Nickel prices inched higher on Wednesday, on track to post their biggest monthly gain in 19 months, on tight supplies from Indonesia and concern over sanctions on top refined producer Russia. Business tailed off as traders squared up ahead of market holidays in Shanghai on Thursday and Friday and in London on Monday.

  • NEW YORK/ LONDON, April 30- Deutsche Bank's exit from the London precious metal fixes will leave just two banks running a century-old system that sets the global silver price, likely stirring the debate about regulation of one of the most volatile commodity markets.

  • April 30- Barrick Gold Corp reported a dramatic drop in first-quarter earnings on Wednesday and cut its forecast for 2014 copper production due to damage to the main conveyor at its Lumwana mine in Zambia that had halted ore processing there.

  • *GDP +0.2 pct in Feb, +0.5 pct in Jan, -0.4 pct in Dec. *Seasonally adjusted crop production down on intentions. OTTAWA, April 30- The Canadian economy grew by 0.2 percent in February from January as expected, moving past December's weather-induced decline but growing only at a modest pace, according to Statistics Canada data released on Wednesday.

  • April 30- Barrick Gold Corp reported a sharp drop in first quarter earnings on Wednesday and cut its forecast for 2014 copper production after damage to the main conveyor at its Lumwana mine in Zambia halted processing there.

  • *Its facilities could be sold for a symbolic 1 euro- Italian media. NEW DELHI/ LONDON, April 30- India's billionaire brothers, Naveen and Sajjan Jindal, could be the answer Pope Francis is looking for.