Metals and Mining


  • PRECIOUS-Gold edges up, wary Asian buyers hold back Thursday, 27 Feb 2014 | 10:25 AM ET

    LONDON, Feb 27- Gold prices edged up on Thursday due to a steady dollar, but remained well below the previous day's four-month high as buyers of coins, bars and jewellery in Asian markets held off in expectation of a further price drop.

  • LONDON, Feb 27- Copper slipped to its lowest level in nearly three months on Thursday, weighed by concerns over demand from top consumer China while growing political turmoil in Ukraine also sapped appetite for risky assets such as metals.

  • JOHANNESBURG, Feb 27- Talks between the world's top three platinum producers and South Africa's striking AMCU union will resume on Friday in an effort to end a five-week stoppage over wages, the chief executive of Impala Platinum said.

  • SINGAPORE, Feb 27- Many power utilities in Asia appear to be making what seems like an increasingly risky bet: that poorer quality coal from Indonesia will remain cheap and plentiful. Generators from India to Southeast Asia and China are building or planning new coal-fired units designed to run on low-rank, sub-bituminous coal from Indonesia.

  • *Ottawa leaves door open for Taseko to submit new development proposal. VANCOUVER, Feb 26- Canada's government has blocked the development of a controversial copper and gold mine owned by Taseko Mines Ltd, the second time in just over three years that it has halted the mine plan.

  • RIO DE JANEIRO, Feb 26- Vale SA, the world's No. 3 mining company by market value, said on Wednesday its net loss more than doubled in the fourth quarter after it took a $6.5 billion charge for an income-tax settlement with the Brazilian government and wrote off part of a failed potash investment.

  • MORGANTOWN, West Va., Feb 26- As the Obama administration readies rules to force all U.S. power plants to lower the rate at which they produce greenhouse gases, Senator Joe Manchin of West Virginia, a major coal state, is trying to steer a bill through the Senate that he said would hold off the Environmental Protection Agency.

  • Feb 26- Australian billionaire Gina Rinehart's Roy Hill iron ore project is close to finalising a $7.8 billion financing deal, sources said, a vital step towards an end-2015 start for the giant mine in Western Australia's iron-rich Pilbara district.

  • Mexico grants Fresnillo explosives permit for gold mine Wednesday, 26 Feb 2014 | 3:33 AM ET

    LONDON, Feb 26- Mexico has granted precious metals miner Fresnillo a new explosives permit, allowing it to resume operations at one of its gold mines, the company said on Wednesday.

  • Feb 26- Australian billionaire Gina Rinehart's Roy Hill iron ore project is close to finalising a $7.8 billion financing deal, sources said, a vital step towards an end-2015 start for the giant mine in Western Australia's iron-rich Pilbara district.

  • *Initially valued at $500- 600 mln, but the value has fallen. LONDON, Feb 25- Brazilian mining firm B&A Mineração has pulled out of talks to buy BHP Billiton's stake in the Mount Nimba iron ore deposit in Guinea, bank and industry sources said, in the latest sign that projects in riskier countries have become a tough sell.

  • SYDNEY, Feb 25- London copper on Tuesday eased back towards its lowest level in more than two weeks after economic optimism sparked by some major mergers in the United States started to fizzle, and the focus returned to growth concerns in top user China.

  • Potash CEO on earnings & India's market     Monday, 24 Feb 2014 | 11:20 AM ET

    Discussing his company's earnings and emerging market growth, with William Doyle, Potash Corporation president & CEO.

  • *China property fears send ShFE copper to over-3-month low. LONDON, Feb 24- Copper fell on Monday to its lowest in more than two weeks as data showed growth in new housing prices in China slowed in January and worries about credit restrictions in the country's huge property sector hurt the demand outlook for metals.

  • Feb 24- Canadian exploration company Augusta Resource Corp has asked its shareholders to reject base metal miner HudBay Minerals Inc's hostile offer to buy all the shares in Augusta it does not own. Augusta's Rosemont copper project in Arizona is considered to be one of the most promising in the United States.

  • *The move is a potential victory for Freeport, Newmont. *Minister: Freeport to resume copper exports in near future. A senior government official said Freeport would resume exports of copper concentrate in the "near future".

  • *Indonesia will consider easing export tax after Freeport builds smelter-minister. JAKARTA, Feb 24- U.S. miner Freeport-McMoRan Copper& Gold is expected to resume copper concentrate exports from Indonesia in the "near future", a minister said, after halting shipments due to a dispute over new mining rules imposed last month.

  • Peter Toogood, investment director at City Financial Investment Company, says it is too late to buy bank stocks, but equities in mining companies could be a good investment.

  • PRECIOUS-Gold edges lower after 3rd week of gains Sunday, 23 Feb 2014 | 10:12 PM ET

    *Gold still targets $1,307.46- technicals. SINGAPORE, Feb 24- Gold inched lower on Monday after posting a third straight week of gains, but the precious metal may get support from worries over the pace of the U.S. economic recovery and China's growth.

  • *Copper producers Freeport and Newmont in dispute with govt. The tax ratchets up sharply before an outright export ban from 2017 and Freeport and Newmont Mining Corp, which produce 97 percent of Indonesia's copper, have halted all exports and are locked in talks with the government because they say the tax breaches their contracts.