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Materials and Metals

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  • June 25- Molycorp Inc, the only U.S. supplier of rare earths, filed for Chapter 11 bankruptcy protection on Thursday along with its North American subsidiaries to restructure $1.7 billion of debt in its U.S. and Canadian operations. Molycorp, whose shares have lost 86 percent of their value in the past year, said it had obtained agreement for up to $225 million in new...

  • June 25- Rare earths miner Molycorp Inc filed for Chapter 11 bankruptcy protection on Thursday along with its North American subsidiaries to restructure $1.7 billion of debt in its U.S. and Canadian operations. Molycorp has also obtained agreement for up to $225 million in new debtor-in-possession financing, it said in a statement. The Birmingham, Alabama-...

  • *Bank of China recently joined London benchmark. SHANGHAI, June 25- Industrial and Commercial Bank of China Ltd, the world's largest bank by assets, said it was interested in participating in the twice-daily London gold price benchmarking process. "ICBC is very keen on participating," Zhou Ming, general manager in the bank's precious metals department said at an...

  • LAUNCESTON, Australia, June 25- Is India's Adani Mining preparing to walk away from its A $10 billion coal project in Australia's Queensland state, or upping the ante in trying to speed up approvals for the huge project? Adani surprised industry observers by confirming on Wednesday it had halted engineering work on its Carmichael coal project in the frontier...

  • *Hackers stole Codan's designs for metal detectors. *Codan forced to slash prices to compete with counterfeits. But try telling that to Donald McGurk, chief executive of Australian communications, metal detection and mining technology firm Codan, who has watched sales and prices of his firm's metal detectors collapse since Chinese hackers stole its designs...

  • SAN FRANCISCO, June 24- A bill to require California's state pension funds Calpers and CalSTRS to sell their investments in companies that generate at least half their revenue from coal mining passed an Assembly committee by a vote of 5-1 on Wednesday. Stanford University and the University of Maine have made similar moves. It has investments in coal companies...

  • U.S. lawmakers promise scrutiny of coal cleanup program Wednesday, 24 Jun 2015 | 5:48 PM ET

    WASHINGTON, June 24- Lawmakers will examine whether a program that allows coal companies to forgo mine cleanup insurance could leave taxpayers with billion dollar costs, leading members of the U.S. House Committee on Natural Resources said on Wednesday. Debbie Dingell, the leading Democrat on the committee's oversight panel. The country's four largest coal...

  • *Hackers stole Codan's designs for metal detectors. *Codan forced to slash prices to compete with counterfeits. But try telling that to Donald McGurk, chief executive of Australian communications, metal detection and mining technology firm Codan, who has watched sales and prices of his firm's metal detectors collapse since Chinese hackers stole its designs...

  • June 24- Monsanto Co's efforts to expand its agrichemical interests beyond what has long been its bread-and-butter glyphosate herbicide business were underscored on Wednesday by news the company plans to invest potentially more than $1 billion in a production facility for an alternative herbicide. Monsanto officials expect to spend the money over the...

  • June 24- Shareholders of Canada's AuRico Gold Inc and Alamos Gold Inc on Wednesday voted in favor of a $1.5 billion merger, creating a mid-sized gold producer with operations in Canada and Mexico. Alamos and AuRico shareholders will each own about half the combined company, which will be called Alamos Gold. A new company, AuRico Metals Inc, will be formed to hold...

  • SAN FRANCISCO, June 24- A bill to require California's state pension funds Calpers and CalSTRS to sell their investments in companies that generate at least half their revenue from coal mining passed an Assembly committee by a vote of 5-1 on Wednesday. In the United States, Stanford University and the University of Maine have made similar moves.

  • CALIFORNIA COMMITTEE VOTES TO ADVANCE BILL TO FORCE CALPERS, CALSTRS TO STOP INVESTING IN COAL MINING COMPANIES.

  • SAN FRANCISCO, June 24- A bill to require California's state pension funds Calpers and CalSTRS to sell their investments in companies that generate at least half their revenue from coal mining received three of the four required votes in a preliminary count at a California Assembly committee on Wednesday. In the United States, Stanford University and the...

  • CALIFORNIA PENSION COAL MINING DIVESTMENT BILL IN PRELIMINARY VOTE GETS 3 OF THE 4 VOTES NEEDED TO ADVANCE, FINAL VOTE STILL AWAITED.

  • SAO PAULO, June 24- Brazilian miner Vale SA could raise about $1.5 billion through the sale of a stake in one of its Brazil- based assets, a senior executive said on Wednesday. Such a recovery has remained illusive with nickel down 30 percent in the last year to $12,760 a tonne. Chief Financial Officer Luciano Siani told Reuters in December the IPO would only go ahead...

  • *Prices steady as Greece says deal with creditors rejected. LONDON, June 24- Gold steadied off a one-week low on Wednesday after Greece said international lenders had rejected its latest proposals to avoid default, knocking stocks, and as the dollar retreated. The precious metal has declined for the last three days as the dollar strengthened, and as optimism over...

  • June 24- Monsanto Co, the world's largest seed company, reported a better-than-expected profit for the third quarter on Wednesday, and said it continues to pursue the acquisition of Swiss rival Syngenta AG. Monsanto, known for its genetically engineered corn, soybeans and other crops as well as its popular Roundup herbicide, said for the quarter it made $1.14...

  • SHANGHAI— At least 5,000 residents of a Shanghai suburb protested Wednesday over a report that a petrochemical plant may be moved to their neighborhood, although authorities dismissed the report as untrue. The protest reflected growing public concern about the environmental impact of projects such as petrochemical plants, as well as the public's deep...

  • Monsanto posts higher 3Q profit, pursues Syngenta tie-up Wednesday, 24 Jun 2015 | 8:07 AM ET

    WASHINGTON— Monsanto Co. reported better-than-expected earnings results for the third quarter on Wednesday as executives continued to pursue a $45 billion takeover of Swiss competitor, Syngenta AG. The St. Louis company reiterated its goal to more than double its 2014 earnings per share by 2019, emphasizing the potential benefits of a combination with...

  • *Prices firm as Greece says deal with creditors rejected. LONDON, June 24- Gold edged higher on Wednesday after Greece said international lenders had rejected its latest proposals to avoid default, knocking stocks, and as a softer dollar helped the metal recover from a one-week low. The precious metal has declined for the last three days as the dollar...

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