Metals and Mining


  • March 28- Alcoa Inc said it would cut 147,000 metric tons of capacity at two aluminum smelters in Brazil as increased costs have made the plants uncompetitive. Alcoa had placed 460,000 metric tons of smelting capacity under review last May. Alcoa said it expected the capacity cuts at Sao Luis and Pocos de Caldas smelters to be complete by the end of May.

  • LONDON, March 28- Copper rose on Friday, climbing to its highest in 2-1/ 2 weeks, as speculation gathered pace that China could step-in to stimulate its economy and lift demand for industrial metals.

  • SYDNEY, March 28- London copper edged higher on Friday, moving further away from more than three-year lows hit earlier this month, as hopes for stimulus in top metals user China put it on target for its biggest weekly rise in six months.

  • L&L Energy, which has all of its operations in China and Taiwan, "created the false appearance that the company had a professional management team in place when in reality Dickson Lee was single-handedly controlling the company's operations," the SEC said.

  • U.S. SEC accuses coal company L&L Energy of fraud Thursday, 27 Mar 2014 | 5:24 PM ET

    WASHINGTON, March 27- The U.S. Securities and Exchange Commission accused L&L Energy Inc of committing fraud when the coal company and its founder made false disclosures about who was running the company, the agency said on Thursday.

  • VANCOUVER, March 27- Looking for ways to boost their flagging fortunes, a handful of tiny Canadian mining exploration companies are considering swapping their hard hats and shovels for bongs and baggies.

  • LONDON, March 27- Copper prices bounced on Thursday on improved demand in Europe and top consumer China, but a stronger dollar and continued worries about credit in China capped gains.

  • Gunvor starts iron ore trade, from Singapore Thursday, 27 Mar 2014 | 2:04 PM ET

    Privately-owned Gunvor has stared trading physical iron ore and iron ore derivatives from Singapore, the main trading centre for the steelmaking ingredient widely consumed in China.

  • JAKARTA, March 27- Indonesia has reached a deal over export taxes with U.S. mining company Freeport-McMoRan Copper& Gold Inc, allowing nearly $4 billion worth of annual copper shipments to resume as early as next month.

  • JAKARTA, March 27- Indonesia has reached a deal over export taxes with U.S. mining company Freeport-McMoRan Copper& Gold Inc, allowing nearly $4 billion worth of annual copper shipments to resume as early as next month.

  • JAKARTA, March 27- Indonesia's government has reached a deal over export taxes with U.S. mining giant Freeport-McMoRan Copper& Gold Inc, which should resume copper shipments next month, a senior finance ministry official told Reuters on Thursday.

  • *Demand for physical gold soft in Asia despite price drop. LONDON, March 27- Gold hit a six-week low on Thursday, breaking below $1,300 an ounce for the first time since mid-February, as speculation that U.S. rates would rise sooner than expected and easing tensions over Ukraine pushed prices through key chart levels.

  • SYDNEY, March 27- Damaged rubber lining on a tank led to a massive uranium leak from a processing plant in Australia late last year, a subsidiary of global mining giant Rio Tinto said on Thursday.

  • BANGKOK, March 27- Siam Cement PCL, Thailand's largest industrial conglomerate, aims to boost cement production and sales in Southeast Asia to offset a slowdown at home where political unrest has delayed spending on infrastructure projects.

  • China's trade data for February shows nickel ore imports from Indonesia were about 3.1 million tonnes, down only 2.5 percent from the same month a year earlier. In the first two months of the year China imported 9.2 million tonnes of nickel ore from Indonesia, a 29.1 percent jump over the same period in 2013..

  • *China domestic copper stockpiles tighten on demand pick up. SYDNEY, March 27- London copper firmed on Thursday amid signs of improving demand in China, although caution about the bond and property markets of the world's No.2 economy remained and any further indication of stress there could drag down prices of the metal.

  • SYDNEY, March 27- London copper firmed on Thursday, underpinned by hopes of stimulus steps in China, but investors remained alert for further signs of stress in China's bond or property markets that could flag a drop in demand for copper. *The most-traded June copper contract on the Shanghai Futures Exchange sank by 0.4 percent to 45,950 yuan a tonne.

  • Congo's mining tax increase plan rattles investors Wednesday, 26 Mar 2014 | 10:34 AM ET

    *Congo wants to nearly double tax revenues to 25 pct of budget. GOMA, Democratic Republic of Congo, March 26- D emocratic Republic of Congo aims to double tax revenues from minerals but investors warned that an overhaul of the mining code could remove incentives to invest there.

  • India's JSW Steel sees flat coking coal imports in 2014/15 Wednesday, 26 Mar 2014 | 10:01 AM ET

    NEW DELHI, March 26- JSW Steel, India's No. 3 steel maker, said it expects imports of metallurgical coal to stay flat at 7-8 million tonnes in 2014/ 15, indicating its mills will continue to run below capacity due to soft demand and a shortage of iron ore.

  • *Newmont says still shipping to Indonesia's Gresik copper smelter. JAKARTA, March 26- Newmont Mining Corp has not cut output at its Indonesian copper and gold mine, a spokesman at the Denver- based company said on Wednesday, denying government claims earlier in the day that its production had been slashed.