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Materials and Metals

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  • BEIJING, July 8- The fate of debt-ridden U.S. rare earth miner Molycorp rests on China's efforts to crack down on networks that smuggled as much as 40,000 tonnes of the vital technology metals out of the country last year, driving down global prices. Greenwood, Colorado- based Molycorp is the sole U.S. domestic supplier of rare earths used in everything from...

  • *Palladium, platinum at multi-year lows. NEW YORK/ LONDON, July 7- Gold fell to a near four-month low on Tuesday, while silver sank nearly 7 percent and platinum dropped to a 2009 low, as the dollar rallied ahead of an emergency euro zone summit on Greece with the country's banks rapidly running out of cash. Gold, usually seen as an alternative investment in times of...

  • VANCOUVER, July 7- Shares of Silver Wheaton Corp fell more than 10 percent on Tuesday after the mining finance company said it might have to pay $200 million or more in taxes and penalties in Canada. Vancouver- based Silver Wheaton said late on Monday it had received a letter from the Canada Revenue Agency, which is proposing taxing about C $715 million of income...

  • JOHANNESBURG, July 7- South African shares fell almost 3 percent to six-month lows on Tuesday, knocked by a combination of Greece's problems and skidding commodity prices. Among blue chips, Kumba Iron Ore slumped again, shedding 6.5 percent as Chinese iron ore futures fell nearly 6 percent to 121.50 rand, its lowest in nearly three months on waning demand as...

  • ATHENS, Ohio— Ohio University officials say the campus nestled in the state's coal-mining country will transition from coal to natural gas fuel by the end of the year. The school still uses coal-fired boilers to generate steam to heat and cool campus buildings, but a $5.5 million project to build a pipeline carrying natural gas to the university's power plant is...

  • VANCOUVER, July 7- Shares in Silver Wheaton Corp fell more than 7 percent on Tuesday after the mining finance company said it may face tax payments of more than US $200 million following a reassessment "proposal" from Canada's tax authority. Vancouver- based Silver Wheaton said late on Monday it had received a letter from the Canada Revenue Agency that proposes...

  • GABORONE, July 7- Cupric Canyon Capital, a private equity firm backed by a unit of Barclays Plc, will spend $200 million to bring its copper-silver mine in Botswana to production, the company said on Tuesday. Construction of the mine, which will be built by Cupric's Botswana unit Khoemacau, is set to start in 2016 with the first copper expected to be shipped to the...

  • SYDNEY, July 7- Australian chemical maker Orica Ltd said it would curb output and cut staff at a site in the state of Queensland, hit by faltering demand for explosives from the mining industry. Orica said it would lower production of ammonium nitrate as supply outstrips demand, while 10 percent of the 220 staff employed at the Yarwun site are expected to lose their...

  • *New South Wales minister wants to change mining approval policy. SYDNEY, July 7- The Australian state of New South Wales has proposed changing its mining approval process to give greater consideration to environmental concerns, potentially threatening a colliery expansion planned by mining giant Rio Tinto Ltd.. Alan Leslie, spokesperson for the Bulga...

  • *All eyes on euro zone summit on Greece later on Tuesday. SINGAPORE, July 7- Gold fell on Tuesday as markets awaited news from a euro zone summit to see whether progress would be made in the Greek debt crisis, even as increasing short positions in the precious metal underlined bearish sentiment towards bullion. Gold has so far failed to see significant safe-haven...

  • SYDNEY, July 7- The Australian state of New South Wales has proposed changing its mining approval process to give greater consideration to environmental concerns, potentially threatening a colliery expansion planned by mining giant Rio Tinto Ltd.. The NSW Minerals Council said in a statement that the government had chosen "what it believes is the easy...

  • *Platinum falls to lowest since 2009. NEW YORK/ LONDON, July 6- Gold eked out small gains on Monday in a rare spurt of safe-haven buying after Greek voters rejected terms of a bailout package, deepening the country's economic woes, and offsetting pressure from a rising U.S. dollar. "It seems likely there were some concerns that the rhetoric from that joint...

  • *Silver, platinum, palladium all decline. LONDON, July 6- Gold fell on Monday as a robust dollar outweighed the impact of lower equity markets and some retail demand after a Greek vote rejected the terms of a bailout package that could set Athens on a path out of the euro zone. Spot gold was down 0.3 percent at $1,163.50 an ounce by 0956 GMT, while U.S. gold futures were...

  • SINGAPORE, July 6- Most commodity prices suffered falls on Monday, compounding worries about oversupply, after Greece rejected terms for a bailout and top consumer China unleashed emergency measures over the weekend to prevent a full-blown stock market crash. "As far as Greece is concerned, if we are going to see a drawn-out period of uncertainty, that may be...

  • German minister backs K+S's Potash bid rejection Saturday, 4 Jul 2015 | 1:38 PM ET

    FRANKFURT, July 4- A German regional minister gave his backing to potash miner K+ S's rejection of an $8.8 billion- euro takeover bid by Canada's Potash Corp of Saskatchewan, saying K+ S should remain a German company. Tarek Al-Wazir, minister of economy in K+ S's home state of Hesse, said on Saturday he would support K+ S's efforts to make sure regional jobs and value...

  • July 3- About 5,000 residents evacuated after the derailment of a freight train carrying flammable and toxic gas in eastern Tennessee were allowed home on Friday as investigators looked into the cause of the fiery accident. Authorities were examining the black box from the CSX Corp train that derailed with one tank car bursting into flames at midnight...

  • July 3- Investigators on Friday were looking into what caused a freight train carrying flammable and toxic gas to derail and catch fire in Tennessee, forcing the day-long evacuation of 5,000 people, officials said. The flames that engulfed a car of the CSX Corp train in Blount County, near Maryville in eastern Tennessee, late Wednesday were extinguished by late...

  • METALS-Copper tracks equity markets lower, for now Friday, 3 Jul 2015 | 10:39 AM ET

    LONDON, July 3- Copper slipped on Friday alongside other markets on worries about the fallout from Greece, but losses are likely to be capped by a weaker dollar and expectations that further price falls could lead to production cuts. Greece will vote on Sunday in a bailout referendum that could decide whether the country stays in the euro zone.

  • *Japan Q3 aluminum premiums fall to 6- year low. LONDON, July 3- Copper was slightly lower on Friday as worries about demand from top consumer China resurfaced, but losses are likely to be capped by a weaker dollar and expectations that further price falls could lead to production cuts. "Copper's downward slide has clearly been arrested in the last couple of weeks.

  • *Japan Q3 aluminium premiums fall to 6- year low. LONDON, July 3- Copper held firm on Friday, helped by a lower dollar and expectations that further price falls could cause production cuts, but a seasonal demand lull is likely to check gains. "Copper's downward slide has clearly been arrested in the last couple of weeks.

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