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Diversified Metals and Mining

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  • Glencore launches $1 billion share buyback Wednesday, 20 Aug 2014 | 2:53 AM ET
    A logo sits on a sign outside Glencore Xstrata Plc's headquarters in Baar, Switzerland.

    Miner Glencore said on Wednesday it will launch a share buy-back program of up to $1 billion over the next six months.

  • Investors reject BHP deal, hunt for value elsewhere Tuesday, 19 Aug 2014 | 8:48 PM ET

    Shares of mining giant BHP Billiton closed 4.9 percent lower in London on Tuesday after the group announced plans to spinoff businesses worth around $16 billion.

  • VANCOUVER, Aug 18- The Canadian province of British Columbia said on Monday it has ordered an independent review of all tailings ponds at every permitted mine in the province in the wake of a major spill at Imperial Metals Corp's Mount Polley mine.

  • METALS-London copper rebounds from near two-month low Monday, 18 Aug 2014 | 12:17 AM ET

    *China new home prices drop 0.9 percent in July from June. SYDNEY, Aug 18- London copper edged higher on Monday, bouncing off last week's near two-month lows, as traders built up stocks on fresh signs of economic recovery in the United States and a view that the sell-off after weak Chinese data was too heavy.

  • SYDNEY, Aug 18- London copper was flat on Monday after last week logging its biggest weekly loss in one month and ahead of a fresh reading on China's property market that has dragged on its economy and raised questions over its metals demand.

  • *Shares up 2 pct, outperform UK mining sector. MELBOURNE/ LONDON, Aug 15- Diversified mining company BHP Billiton declared its preference for a demerger of its aluminium, manganese and nickel assets on Friday, setting the stage for the formation of a separate business that could be worth at least $12 billion.

  • SAO PAULO, Aug 15- Whichever way Brazil's steel industry looks it sees pain. "Only a crazy person would invest in Brazil right now," CSN Chief Executive Benjamin Steinbruch told a conference in Sao Paulo this week.

  • Australia’s Sandfire to see maiden dividend soon Monday, 4 Aug 2014 | 5:11 AM ET

    Sandfire Resources looks set to return cash to shareholders soon.

  • The company's shares were up 2.5 percent at 1077 pence at 1457 GMT on the London Stock Exchange. Vedanta Chairman Anil Agarwal said on Friday his comments on Zambia in a video circulating on the Internet had been taken out of context.

  • "Results were better than expected, with solid operating results in coal and copper," RBC Capital Markets analyst Fraser Phillips said in a note to clients. Teck cut its 2014 copper cost forecast to between $1.95 and $2.05 per pound from $2.00 to $2.20 a pound.

  • July 24- Canadian diversified miner Teck Resources Ltd reported a 44 percent drop in quarterly earnings, mainly due to "significantly" lower coal prices. On an adjusted basis, Vancouver- based Teck's earnings fell to 13 Canadian cents per share from 34 Canadian cents per share.

  • Teck Resources' profit falls as coal prices remain weak Thursday, 24 Jul 2014 | 5:13 AM ET

    July 24- Canadian diversified miner Teck Resources Ltd reported a 44 percent drop in quarterly earnings, mainly due to "significantly" lower coal prices. Net profit attributable to shareholders fell to C $80 million, or 14 Canadian cents per share, in the second quarter ended June 30, from C $143 million, or 25 Canadian cents per share, in the same period a year earlier.

  • *Copper market seen tilting into deficit from 2016. Copper has lost almost a third of its value from a peak in 2011 due to a slowdown in top metals consumer China, which buys about 40 percent of global output. Copper miners' shares represented by the Thomson Reuters GFMS pure-play copper companies index fell by almost 40 percent over the same period.

  • Glencore appoints first female board director Thursday, 26 Jun 2014 | 5:02 AM ET

    LONDON, June 26- Glencore, the last British blue-chip company with an all male board, has appointed Patrice Merrin as its first female board director. In May, Glencore chairman and former BP boss Tony Hayward said that the company would appoint a female director by the end of the year.

  • Copper loses its luster - where next? Thursday, 12 Jun 2014 | 10:19 AM ET

    Prices of copper – the industrial metal used in everything from cars to houses – have declined this week, heading towards a one-month low.

  • CANADA STOCKS-China data helps drive TSX higher Tuesday, 3 Jun 2014 | 4:53 PM ET

    *B2Gold drops after plan to acquire Australia's Papillon. TORONTO, June 3- Canada's benchmark stock index rose for a third straight session on Tuesday, driven by gains in the share prices of energy producers and financial companies, as positive economic data from China boosted sentiment.

  • NYANDENI, South Africa May 29- Mining accounts for a fraction of South Africa's gross domestic product but still hits well above its weight and is pushing the continent's most advanced economy towards recession.

  • SYDNEY, May 28- London copper steadied on Wednesday after hitting a near three-month peak the previous day with prices supported by improving demand in top consumer China, while London nickel firmed as unrest at a New Caledonian mine kept supply threats in focus.

  • SYDNEY, May 28- London nickel firmed on Wednesday as unrest at a New Caledonian mine kept supply threats in focus amid expectations for a supply deficit as soon as next year, while London copper drifted from near three-month peaks. *LME copper edged down by 0.3 percent to $6,915.50 a tonne by 0126 GMT, after closing flat the previous session.

  • BHP Billiton says it may cut jobs at Worsley Alumina Tuesday, 27 May 2014 | 9:06 AM ET

    LONDON, May 27- BHP Billiton, the world's largest diversified mining company, may cut jobs at its Worsley Alumina operations in Australia after completing a review of the business, the company said on Tuesday.