NEW YORK— Platinum and palladium prices are rising as a dispute between Russia and Ukraine along with a strike in South Africa push prices up. Russia and South Africa produce roughly 80 percent of the world's palladium. "So you have this double threat of Russia and South Africa at the same time."» Read More
*Copper guidance revised up as ore grades improve. Talks to end mining strike in South Africa continue. Output of iron ore, which makes up almost half of group earnings, totaled 11.3 million tonnes in the first quarter, up 10 percent from the year before, when production at the Sishen mine in South Africa was curbed following a strike in late 2012..
SEOUL, April 24- South Korean steelmaker POSCO on Thursday cut forecast for sales and investment for this year after its first quarter profit missed estimates as China's slowing economy curbed demand for steel. POSCO cut its sales forecast for this year by around 2 percent to 30.3 trillion won from the previous 31 trillion won, it said in an earnings statement.
SEOUL, April 24- South Korean steelmaker POSCO reported an 11 percent drop in quarterly operating profit on Thursday, missing estimates, as China's slowing economy curbed demand for steel.
*China is world's No. 1 user of refined copper. HONG KONG, April 24- China, the world's top consumer of metals, could become a net exporter of refined copper in one to two years, said an executive at Minmetals Non-Ferrous Metals Holding Limited.
MONTPELIER, Vt.— Vermont lawmakers have passed the country's first state bill to require the labeling of genetically modified foods as such, setting up a war between powerful lobbyists for the behemoth U.S. food industry and an American public that overwhelmingly says it approves of the idea.
April 23- The disagreements around the spin-out of certain assets that had snagged merger talks between Barrick Gold Corp and its rival, Newmont Mining Corp, have been resolved but talks are at a standstill for now, said three sources familiar with the matter on Wednesday.
Barrick Gold Corp. rose$. 26 or 1.5 percent, to $17.81. Gold Fields rose$. 13 or 3.3 percent, to $4.11. Newmont Mining Corp. rose$. 88 or 3.5 percent, to $25.92.
Hecla Mining Co. rose$. 04 or 1.3 percent, to $3.11. Pan American Silver Corp. rose$. 35 or 2.8 percent, to $13.07. Silver Standard Resources Inc. rose$. 22 or 2.3 percent, to $9.92.
Arch Coal fell$. 07 or 1.5 percent, to $4.48. Consol Energy Inc. rose$. 74 or 1.8 percent, to $42.23. Peabody Energy rose$. 11 or. 6 percent, to $17.42.
Gold prices settled higher for the first time in a week as tensions between Russia and Ukraine give the precious metal some support. Russia warned Wednesday that it would mount a firm response if its citizens or interests come under attack in Ukraine. The next day, Ukraine and Russia agreed on tentative steps to calm unrest along their shared border.
NEW YORK— Shares of some top chemicals companies are mixed at 1 p.m.:. Dow Chemical Co. rose$. 55 or 1.1 percent, to $49.49. DuPont Co. fell$. 03 or percent, to $67.32.
Arch Coal fell$. 04 or. 8 percent, to $4.51. Consol Energy Inc. rose$. 33 or. 8 percent, to $41.82. Peabody Energy fell$. 11 or. 6 percent, to $17.20.
Hecla Mining Co. rose$. 05 or 1.6 percent, to $3.12. Pan American Silver Corp. rose$. 30 or 2.4 percent, to $13.02. Silver Standard Resources Inc. rose$. 26 or 2.7 percent, to $9.96.
NEW YORK— Shares of some top gold companies are up at 1 p.m.:. Barrick Gold Corp. rose$. 29 or 1.7 percent, to $17.84. Newmont Mining Corp. rose$. 82 or 3.3 percent, to $25.86.
The ban on exports of unprocessed minerals by Indonesia, the world's biggest nickel ore supplier, was felt sharply last month when its shipments to top buyer China fell to less than a million tonnes from an average of 3.4 million tonnes a month last year.
WASHINGTON— The Obama administration said Wednesday it is cutting the amount of coal dust allowed in coal mines in an effort to help reduce black lung disease. "Today we advance a very basic principle: you shouldn't have to sacrifice your life for your livelihood," Labor Secretary Thomas E. Perez said.
DULUTH, Minn.— The University of Minnesota Duluth is creating a new program to turn out more graduates who can work in the mining field. UMD geology professor Jim Miller said at a conference Tuesday that the goal of the Mineral Resources Center is to graduate people with a full understanding of the mining cycle, even if they specialize in certain areas.
NEW YORK— Shares of some top chemicals companies are up at 10 a.m.:. Dow Chemical Co. rose $1.08 or 2.2 percent, to $50.02. DuPont Co. rose$. 02 or percent, to $67.37.
NEW YORK— Shares of some top gold companies are up at 10 a.m.:. Barrick Gold Corp. rose$. 24 or 1.4 percent, to $17.79. Newmont Mining Corp. rose$. 48 or 1.9 percent, to $25.52.
Hecla Mining Co. rose$. 02 or. 7 percent, to $3.09. Pan American Silver Corp. rose$. 09 or. 7 percent, to $12.81. Silver Standard Resources Inc. fell$. 02 or. 2 percent, to $9.68.
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