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Materials and Metals

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  • CHARLESTON, W.Va.— Appalachian coal mining suffered a double blow Friday, as Murray Energy announced plans to lay off more than 1,800 miners, most from West Virginia, and Alpha Natural Resources told another 439 Mountain State miners they could be out of work. On Friday, St. Clairsville, Ohio- based Murray Energy said it told 1,417 workers at five West Virginia mines...

  • DENVER— Federal regulators are re-doing an environmental review for a Colorado coal mine after a judge threatened to shut it down unless they took a closer look at its indirect environmental impacts, including its contribution to climate change. The Office of Surface Mining, Reclamation and Enforcement, part of the Interior Department, posted a notice of the...

  • AXA axes 500 mln euros of coal investments Friday, 22 May 2015 | 11:43 AM ET

    PARIS, May 22- French insurer AXA said on Friday it was cutting its exposure to the coal industry, pulling out of investments worth 500 million euros. Bank of America said earlier this month it was cutting back its lending to the coal industry, while French bank Societe Generale said it was restricting its exposure to the sector. However oil major Royal Dutch...

  • LONDON, May 22- Copper prices fell on Friday on worries about demand in top consumer China, while nickel hit a four-week low after stocks in LME registered warehouses climbed to a record high. Three-month copper traded down at $6,200 a tonne in official rings from $6,260 at Thursday's close. "The fundamental situation in the copper market clearly speaks to higher...

  • *Fed Chair Janet Yellen speech awaited. LONDON, May 22- Gold rose on Friday as the dollar's rally stalled ahead of U.S. inflation data, but the precious metal was still on course for its biggest weekly decline in four weeks. "We get inflation data from the U.S. economy and comments from Yellen later today, which will impact short-term price direction," Danske Bank senior...

  • NEW YORK/ LONDON, May 22- U.S. mining financier Oskar Lewnowski is preparing to launch a base and precious metals fund, sources say, his latest step in recreating the famed trading and investment enterprise he co-founded a decade ago, Red Kite. Two years after striking out on his own to create private equity investment firm Orion Resource Partners, the 50- year-old...

  • SINGAPORE, May 22- Gold held steady just above $1,200 an ounce on Friday, remaining on course for its steepest weekly decline in four weeks as the dollar regained momentum, hurting the metal's safe-haven appeal. *Spot gold was little changed at $1,207.01 an ounce by 0048 GMT, after dropping 0.3 percent in the previous session. *Data from Thomson Reuters' Lipper...

  • SINGAPORE, May 22- Copper was steady early on Friday but on track for its biggest weekly decline since March as a firmer dollar weighed on prices along with weak Chinese demand. *Three-month copper on the London Metal Exchange was off 0.1 percent at $6,253 a tonne by 0034 GMT, and down 2.5 percent so far for the week. *Investors in U.S.-based funds pulled $597 million...

  • JOHANNESBURG, May 21- South Africa's National Union of Mineworkers will push for an 84 percent rise in basic pay for entry-level gold mining workers, a near 10 percentage-point increase on previous demands, according to documents obtained by Reuters on Thursday. They show that the NUM, which represents 57 percent of the workforce in the goldmining industry,...

  • NEW YORK, May 21- Russia's EuroChem is open to selling potash fertilizer together with rival Uralkali once it finishes building two mines, but it is too soon to pursue the idea, a senior executive in the private company said on Thursday. EuroChem, which has revenues of $5 billion, expects to complete construction of its Volgakaliy and Usolskiy mines in Russia's...

  • PARIS, May 21- Rich countries should help developing countries like India limit their carbon emissions by supporting the building of more expensive but cleaner energy plants, Glencore chairman Tony Hayward said on Thursday. Hayward said that India, where hundreds of millions of people have no access to electricity, is about to build 200 gigawatts of...

  • ULAN BATOR, May 21- Cash-strapped Mongolia's deal to expand the $6.5 billion Oyu Tolgoi mine is a big step towards stabilising its economy, but as it waits for the investment boost to feed through it is leaning on once-feared China to help shore up its finances. China helped Mongolia's central bank stave off economic collapse with a currency swap agreement to...

  • SINGAPORE, May 21- London copper futures edged higher on Thursday, bouncing off the previous session's three-week low after another soft Chinese manufacturing report suggested Beijing may have to do more to stimulate the world's No. 2 economy. Three-month copper on the London Metal Exchange was up half a percent at $6,253.50 a tonne by 0219 GMT, after touching...

  • NEW YORK, May 20- Fertilizer producer ICL Israel Chemicals is interested in buying phosphate assets in Brazil and also sees a good fit with Chile's SQM, as it looks to expand into Latin America, its chief executive said on Wednesday. CEO Stefan Borgas did not say how much he was prepared to spend on acquisitions, but said he favors an integrated approach to growth,...

  • ULAN BATOR, May 21- Cash-strapped Mongolia's deal to expand the $6.5 billion Oyu Tolgoi mine is a big step towards stabilising its economy, but as it waits for the investment boost to feed through it is leaning on once-feared China to help shore up its finances. China helped Mongolia's central bank stave off economic collapse with a currency swap agreement to...

  • NY cuts red tape in pesticide regulations for farmers Wednesday, 20 May 2015 | 12:47 PM ET

    ALBANY, N.Y.— The Cuomo administration is cutting some red tape to make it easier for farmers to comply with pesticide regulations. The changes came out of a new Task Force on Lessening Obstacles to Agriculture, which is made up of state agency officials and representatives from the agriculture industry. Jeff Williams of the New York Farm Bureau said the new task...

  • MUMBAI, May 20- India's Tata Steel Ltd said it expected a rebound in steel demand in its home market but another difficult year in Europe, after reporting a $889 million quarterly loss inflated by a hefty impairment on its UK business. The consolidated fourth quarter loss from Tata Steel, Europe's second-largest steelmaker, compares with a net profit of 10.36...

  • MUMBAI, May 20- India's Tata Steel Ltd said it expected a rebound in steel demand in its home market and modest growth in Europe this year, after reporting a $889 million quarterly loss inflated by a hefty impairment on its UK business. The consolidated fourth quarter loss from Tata Steel, Europe's second-largest steelmaker, compares with a net profit of 10.36...

  • Wake County Superior Court Judge Donald W. Stephens' decision earlier this month prevents the Mining and Energy Commission from approving drilling units for hydraulic fracturing until the state Supreme Court decides a separate case regarding how the state panels are formed. Stephens also delayed proceedings in the lawsuit filed against the state's...

  • MISRATA, Libya, May 20- Libyan steelmaker Lisco is struggling to keep its mill rolling in a war zone, no easy feat when the power cuts off every night, shippers are reluctant to dock and foreign contractors are long gone. Lisco Chairman Mohamed Abdelmalik al-Faqih may have an office overlooking the Mediterranean, but the steel plant in Libya's third-largest city...

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