GO
Loading...

Metals and Mining

More

  • SAO PAULO, Oct 31- Gerdau SA, the largest steelmaker in the Americas, on Thursday reported a higher-than-expected quarterly profit, with rising sales volumes and cost controls in Brazil offsetting declining margins in North America, Europe and India.

  • *Cuts 2013 capital budget to $260 mln- $290 mln from $275 mln- $325 mln. Oct 31- Alpha Natural Resources Inc joined rival Arch Coal Inc in forecasting lower mining costs for the year as it reins in spending to cope with weak coal prices.

  • METALS-Copper slips on strong dollar after Fed outlook Thursday, 31 Oct 2013 | 7:26 AM ET

    *Copper on track for first monthly fall since June. LONDON, Oct 31- Copper slipped on Thursday on a strong dollar after the U.S. Copper has traded in a $7,000- $7,420 range since early August due to swelling supply and slower demand growth in China and is on track to post its first monthly fall since June.

  • Oct 31- U.S. coal miner Alpha Natural Resources Inc reported a wider quarterly loss, hurt by lower coal prices and shipments. Net loss widened to $458 million, or $2.07 per share, in the third quarter ended Sept. 30 from $46 million, or 21 cents per share, a year earlier. Revenue fell 25 percent to $1.20 billion.

  • Barrick to suspend construction at Pascua-Lama mine Thursday, 31 Oct 2013 | 6:40 AM ET

    Oct 31- Barrick Gold Corp said on Thursday it would suspend construction at its huge Pascua-Lama gold-silver mine. The company had been expected to raise its estimate of the cost of completing the project, located high in the Andes on the border between Chile and Argentina.

  • *Audley Capital's Julian Treger takes CEO job at Anglo Pacific. BANGALORE/ LONDON, Oct 31- From fund giant BlackRock to activist shareholder Julian Treger, mining investors seeking predictable returns and better cash flows are stepping into mine finance.

  • LONDON, Oct 31- Glencore Xstrata beat market forecasts with copper output that rose over a third in the quarter, boosted by improvements in its Congolese and Chilean mines, as metals helped its trading arm perform "in line" with its expectations. Among diversified miners, Glencore Xstrata has the biggest exposure to copper.

  • LAUNCESTON, Australia, Oct 31- It's two weeks since China's first iron ore futures contract started trading and so far volumes and open interest are robust and prices are slightly lower.

  • Oct 30- Newmont Mining Corp said on Wednesday its Akyem project in Ghana and its Phoenix Copper Leach project in Nevada have achieved commercial production on schedule and on budget.

  • LIMA, Oct 30- Peruvian precious metals miner. its net income fell 65 percent to $65.1 million in the third quarter from the same period a year earlier. Buenaventura is Peru's largest publicly traded mining company.

  • UPDATE 1-Barrick Chile mine workers set to strike Wednesday, 30 Oct 2013 | 1:27 PM ET

    SANTIAGO, Oct 30- The majority of Chilean union workers at Barrick Gold Corp's suspended Pascua-Lama gold mine have voted to strike, which they say could delay the reactivation of the controversial project, according to a union statement on Wednesday.

  • SANTIAGO, Oct 30- The majority of Chilean union workers at Barrick Gold Corp's suspended Pascua-Lama gold mine have voted to strike, which they say could delay the reactivation of the controversial project, according to a union statement on Wednesday.

  • Alcoa warns Quebec against power rate hike Wednesday, 30 Oct 2013 | 11:48 AM ET

    Oct 30- U.S. aluminum producer Alcoa Inc warned on Wednesday that a planned electricity rate hike in Quebec would make its three smelters in the Canadian province uncompetitive.

  • UPDATE 1-Uranium miner Cameco profit jumps, shares climb Wednesday, 30 Oct 2013 | 9:43 AM ET

    Oct 30- Uranium miner Cameco Corp reported a sharp rise in quarterly profit on Wednesday due to higher uranium sales and prices, sending its shares up nearly 6 percent in early trading. Cameco, which has contracts with customers at prices above the spot market, sold 8.5 million pounds of uranium in the third quarter, up from 5.2 million a year earlier.

  • Uranium miner Cameco turns higher profit Wednesday, 30 Oct 2013 | 8:50 AM ET

    Oct 30- Cameco Corp, the world's third-biggest uranium producer, reported higher quarterly profit on Wednesday as its uranium sales and realized price rose. Net earnings for the third quarter jumped to C $211 million, or 53 Canadian cents per share, from C $79 million, or 20 Canadian cents per share, a year before.

  • *Gold edges up, still below 5- week high. LONDON, Oct 30- Gold edged higher on Wednesday as investors bet the U.S. "My feeling is that the overall tone will be somewhat dovish, it will acknowledge the uncertainty generated by the government shutdown and weak data and will emphasise a cautious response going forward," Mitsubishi analyst Jonathan Butler said.

  • The decision is a blow to Hamilton, long the center of Canada's steel industry, which has been hit hard by plant closures over the last decade. "It is disappointing, very disappointing for both our workers and the community in Hamilton that has a long history of making good steel," said United Steelworkers spokesman Tony DePaulo.

  • UPDATE 2-U.S. Steel to permanently shut Ontario mill Tuesday, 29 Oct 2013 | 5:10 PM ET

    TORONTO, Oct 29- United States Steel Corp said on Tuesday it will permanently shut down iron and steelmaking operations at its Hamilton, Ontario, mill at the end of this year. The company's mills in Hamilton and Nanticoke, Ontario, were the subject of a legal dispute between U.S.

  • *Albanese was CEO of Rio Tinto until January 2013. LONDON, Oct 29- Mining companies were too slow to respond to changing investor demands from mid-2011 as sentiment deteriorated, failing to spot the wave of change which eventually swept out a generation of executives, the former boss of miner Rio Tinto said on Tuesday.

  • *Says weakness in mining and India main culprits. The Columbus, Indiana- based company said sales of all its products had also contracted sharply in India in the most recent quarter as a result of declining business confidence and manufacturing activity there.

Most Popular Video

Wednesday, 16 Apr 2014 | 12:00 AM ET

GM unveils new models, hopes for strong sales this year After massive recalls, General Motors is pushing forward with new car models unveiled at the 2014 New York International Auto Show. CNBC's Phil LeBeau explains.

Friday, 11 Apr 2014 | 7:23 AM ET

Former Fed Chairman Ben Bernanke challenges Raghuram Rajan, Reserve Bank of India governor on his views about monetary policies, reports CNBC's Michelle Caruso-Cabrera.

Tuesday, 15 Apr 2014 | 5:40 PM ET

Jonathan Geller, BGR president and editor-in-chief, weighs in on the specifications for Amazon's newly announced 3-D smartphone.