*India- based firms may mine coal for consumption or sale- order. *Foreign firms with India units may qualify- source. NEW DELHI, Oct 22- India could allow commercial coal mining by foreign companies if they set up units in the country, opening the door for global giants like Rio Tinto to access the world's fifth-largest coal reserves, a source familiar with the matter...» Read More
In a filing on Friday, Duncan Galvanizing, one of the oldest galvanizers in the United States, accused Goldman Sachs Group Inc, JPMorgan Chase& Co, the LME and metal warehouse operators of conspiring since 2010 to manipulate the U.S. zinc price.
*Palladium knocked by firmer dollar, profit-taking. NEW YORK/ LONDON, May 23- Palladium fell on Friday as investors took some profits after hitting 2-1/ 2- year highs a day earlier and the dollar firmed, even as concerns remained about supplies as strikes in major producer South Africa drag on.
*Palladium knocked by firmer dollar, profit-taking. LONDON, May 23- Palladium fell on Friday as the dollar firmed and investors squared positions before the weekend, but more gains are expected on worries that an extended strike could drag on even longer in major producer South Africa.
*Palladium up 2.3 percent for week- best since March. LONDON, May 23- Palladium dipped on Friday as the dollar firmed, but was set for its best week in two months on worries that an extended strike could drag on even longer in major producer South Africa.
SINGAPORE, May 23- Palladium was steady near a 2-1/ 2 year high on Friday and was headed for its best week in two months on supply fears due to a prolonged strike in major producer South Africa. *Palladium was steady in early Asian trading after hitting $837.40 an ounce in the previous session- its highest since August 2011.
JOHANNESBURG, May 22- The National Union of Mineworkers said South Africa's labour movement will be the ultimate loser from a rival union's 17- week platinum strike, which could lead to layoffs and new restrictive government rules.
*Strike in platinum mines has gone on for 17 weeks. RUSTENBURG, South Africa, May 22- The chanting began around midnight, a chilling message through the cold of the early South African winter to those who had dared to cross the picket lines at platinum producer Lonmin.
*Strike would halt over half of Australia's iron ore exports. MELBOURNE, May 22- Tugboat workers agreed on Thursday to suspend plans to go on strike at Australia's biggest iron ore port till at least late June, just as miners stepped up efforts to avert action that could halt a quarter of the world's seaborne iron ore supply.
Alexey Mordashov, CEO of Severstal, discusses the structural issues in the metal sector and says the group has no plan to pull out of the U.S..
The sanctions against Russia have had minimal impact short-term but they could be "detrimental" long-term as trust deteriorates, Alexey Mordashov, CEO of Severstal, tells CNBC.
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.