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.» Read More
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 $17.42.
Gold prices settled higher for the first time in a week as tensions between Russia and Ukraine give the precious metal some support. Russia warned Wednesday that it would mount a firm response if its citizens or interests come under attack in Ukraine. The next day, Ukraine and Russia agreed on tentative steps to calm unrest along their shared border.
Hecla Mining Co. rose$. 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 $25.86.
NEW YORK— Shares of some top chemicals companies are mixed at 1 p.m.:. Dow Chemical Co. rose$. 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 $17.20.
The ban on exports of unprocessed minerals by Indonesia, the world's biggest nickel ore supplier, was felt sharply last month when its shipments to top buyer China fell to less than a million tonnes from an average of 3.4 million tonnes a month last year.
WASHINGTON— The Obama administration said Wednesday it is cutting the amount of coal dust allowed in coal mines in an effort to help reduce black lung disease. "Today we advance a very basic principle: you shouldn't have to sacrifice your life for your livelihood," Labor Secretary Thomas E. Perez said.
DULUTH, Minn.— The University of Minnesota Duluth is creating a new program to turn out more graduates who can work in the mining field. UMD geology professor Jim Miller said at a conference Tuesday that the goal of the Mineral Resources Center is to graduate people with a full understanding of the mining cycle, even if they specialize in certain areas.
NEW YORK— Shares of some top gold companies are up at 10 a.m.:. Barrick Gold Corp. rose$. 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.
Arch Coal unchanged at $4.55. Consol Energy Inc. unchanged at $41.49. Peabody Energy fell$. 26 or 1.5 percent, to $17.06.
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.
Dow Chemical, the No. 1 U.S. chemical maker by sales, had a good quarter, reporting a better-than-expected rise in profit.
April 23- Dow Chemical Co, the No. 1 U.S. chemical maker by sales, reported a stronger-than-expected rise in quarterly profit as cost controls helped to boost margins in its divisions that make coatings, plastics and crop-protection products. Dow Chemical cut 5 percent of its workforce and shuttered 20 plants in late 2012..
CHARLESTON, W.Va.— Patriot Coal plans to cut production at two mining complexes in southern West Virginia and potentially lay off workers. St. Louis- based Patriot announced Wednesday that it has issued 60- day layoff notices to workers at its Wells mining complex near Wharton and its Corridor G complex near Danville.
April 23- Dow Chemical Co, the No. 1 U.S. chemical maker by sales, reported a better-than-expected rise in quarterly profit as cost controls helped to boost margins in businesses that make coatings, plastics and crop-protection products.
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