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Metals and Mining

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  • China a 'problem' in steel industry: Pro  Thursday, 14 Aug 2014 | 2:40 AM ET

    Roger Manser, consultant at Kallanish, says Chinese steel production is keeping prices very low.

  • MELBOURNE, Aug 14- India's Adani Mining has won state approval to build a rail line for its $15 billion Carmichael coal project in Australia, it said on Thursday, bringing it a step closer towards making a final decision on whether to go ahead with the massive scheme.

  • NEW DELHI/ LONDON, Aug 13- Italy's claims that a sale of parts of insolvent Italian steelmaker Lucchini to India's JSW Steel will be concluded within days are premature, a top JSW executive said on Wednesday.

  • *Coal prices still a drag on Glencore- analyst. LONDON, Aug 13- Mining company Glencore posted a 13 percent increase in first-half copper output, in line with market forecasts and boosted by growth at its African and South American mines but its zinc and nickel production dipped.

  • Glencore delivering volume 'where it counts': Pro  Wednesday, 13 Aug 2014 | 3:15 AM ET

    Jeff Largey, head of metals and mining research at Macquarie Group, says Glencore has "done a good job" through cost cutting.

  • BEIJING, Aug 13- China produced 68.32 million tonnes of crude steel in July, down 1.4 percent from the month before as mills began cutting output during the off-season.

  • LAUNCESTON, Australia, Aug 13- Coal miners in Australia have spent the past two years desperately cutting costs in a bid to survive falling prices, but this strategy is running out of steam.

  • SAO PAULO, Aug 12- The opening of Brazil's iron ore export terminal Porto Sudeste might be pushed back to next year, according to the CEO of steelmaker Usiminas, which has a contract to ship ore through the port.

  • A key part of that strategy was for the United States to stop using public money to finance the construction of most coal-fired power plants abroad, seen as one of the main causes of rising pollution from heat-trapping gases.

  • Nikkei extends rebound, but investors remain cautious Monday, 11 Aug 2014 | 10:42 PM ET

    *Investors remain concerned about Ukraine, Middle East. The Nikkei rose 0.4 percent to 15,192.13, extending its rebound from a low of 14,753 hit on Friday due to the concerns that conflicts in Ukraine and the Middle East could hamper world growth.

  • WASHINGTON, Aug 11- A U.S. senator from Alaska concerned about salmon fishing and tourism urged the State Department in a letter released on Monday to help ensure that Canadian metal mines are safe after a major spill of waste into waterways near the Alaska border.

  • LONDON, Aug 11- Zinc bulls, and there are plenty, have just received another lesson in the perils of timing. One stand-out of the first Commitments of Traders report issued last week by the London Metal Exchange was the speculative positioning in the exchange's zinc contract.

  • *BCI launches friendly $237 mln offer for Iron Ore Holdings. SYDNEY, Aug 11- BC Iron Ltd has launched a friendly cash and share offer worth around A $256 million for smaller rival Iron Ore Holdings Ltd, the second takeover in a month aimed at beefing up production in Australia's main iron ore region.

  • SYDNEY, Aug 11- Australia's BC Iron Ltd on Monday launched a friendly cash and share offer worth around A $256 million for smaller rival Iron Ore Holdings Ltd aimed at beefing up production in Australia's premier iron ore region.

  • VANCOUVER, Aug 8- A massive waste spill at a gold and copper mine in British Columbia could delay, or even derail, other energy and mining projects planned in the famously "green" West Coast Canadian province.

  • Aug 8- Contractors at ArcelorMittal SA's iron ore mine in Liberia are evacuating the country and other miners are sending staff home to prevent the spread of the deadly Ebola virus. A prolonged outbreak, however, will threaten mineral production in Sierra Leone, Liberia and Guinea if essential supplies are disrupted and employees stay away from work too long.

  • BRUSSELS, Aug 8- Steel and mining company ArcelorMittal on Friday announced force majeure on a project that is planned to triple its iron ore production in Liberia because of the Ebola epidemic sweeping West Africa.

  • *Exports from China jump 14.5 pct in July. LONDON, Aug 8- Copper prices steadied on Friday, but remained near a five-week low due to increased supply and lacklustre demand from top consumer China. In the latest development in the Ukraine crisis, the head of NATO urged Russia to "step back from the brink" of war by pulling its troops back from the Ukrainian border.

  • *Gold shares up 22%, heavily outperform basic gold price. LONDON, Aug 8- Gold mining shares are bouncing back from a disastrous 2013 and are expected to far outperform the price of the metal in coming months as company efficiency measures lure investors back to the sector.

  • *Exports from China jump 14.5 pct in July. LONDON, Aug 8- Copper prices slipped on Friday, dragged lower by increased supplies and lacklustre demand from top consumer China, with the metal on track to post its biggest weekly drop in three weeks.