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Materials and Metals

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  • Panaji, India, March 6- A consortium led by Steel Authority of India Ltd, the country's second-biggest steelmaker, hopes to buy coal mines overseas in the next few months when it has completed due diligence on facilities in Indonesia, Mozambique and the United States.

  • METALS-Base metals edge down on China demand worries Thursday, 6 Mar 2014 | 3:03 AM ET

    JAKARTA, March 6- Base metals edged lower on Thursday as China said it would cut investment to its lowest in 10 years, snapping a rally that drove nickel and zinc prices to multiple-month highs after diplomatic efforts reduced worries over Ukraine.

  • METALS-Base metals edge down after recent rally Thursday, 6 Mar 2014 | 12:42 AM ET

    JAKARTA, March 6- Base metals edged lower on Thursday as diplomatic efforts moderated the crisis over Ukraine and China's commitment to reduce investment capped this week's rally that saw nickel and zinc prices spike to multiple-month highs.

  • SYDNEY, March 6- Australian retail sales surged by the most in almost a year in January and exports jumped to record highs, clear evidence the resource-rich economy is stepping up a gear even as a boom in mining investment cools. Thursday's figures from the Australian Bureau of Statistics were packed with milestones.

  • WASHINGTON, March 5- Alpha Natural Resources Inc., one of the largest U.S. coal producers, has reached a consent decree to settle a complaint about pollution discharged by coal mines into Appalachian rivers and streams, federal authorities said on Wednesday.

  • *Platinum at 4- month highs as talks to end strike falter. NEW YORK/ LONDON, March 5- Gold edged higher on Wednesday after weak U.S. private-sector job data and lackluster services-sector activities, but gains were slight as Washington and Moscow set up talks to reduce tensions over Ukraine, reducing gold's safe-haven bid.

  • WASHINGTON, March 5- Alpha Natural Resources Inc., one of the largest U.S. coal companies, and dozens of subsidiaries have reached a consent decree to settle a complaint about pollution from coal mines, federal authorities said on Wednesday.

  • NEW YORK, March 5- The U.S. Mint said it will resume selling its American Eagle platinum bullion coins on March 10, ending a four-year exit from the market, due to renewed interest from investors and dealers.

  • LONDON, March 5- Nickel climbed to a nine-month high on Wednesday on persistent worries about an Indonesian ban on ore exports and after China's leaders affirmed a solid growth target for the year ahead.

  • LONDON, March 5- Nickel climbed to a nine-month high on Wednesday on persistent worries about an Indonesian ban on ore exports and after China's leaders affirmed a solid growth target for the year ahead.

  • JOHANNESBURG, March 5- Wage talks between the world's top platinum producers and South Africa's Association of Mineworkers and Construction workers Union collapsed on Wednesday, dashing hopes for an early end to a crippling six-week strike.

  • Much of the gold, tantalum, tin and tungsten used in electronics and lighting is mined in areas of civil conflict in Africa. "We are committed to preventing international trade in minerals from intensifying or perpetuating conflict," EU Trade Commissioner Karel De Gucht and foreign policy chief Catherine Ashton said in a joint statement.

  • Much of the gold, tantalum, tin and tungsten used in electronics and lighting is mined in areas of civil conflict in Africa. "We are committed to preventing international trade in minerals from intensifying or perpetuating conflict," EU Trade Commissioner Karel De Gucht and foreign policy chief Catherine Ashton said in a joint statement.

  • UPDATE 1-Uranium supplier USEC files for bankruptcy Wednesday, 5 Mar 2014 | 7:33 AM ET

    March 5- USEC Inc filed for bankruptcy after struggling with weak prices for the enriched uranium it supplies to nuclear power plants and difficulties in financing a major project. USEC has also been hit by delays in securing funding for its American Centrifuge Project in Ohio.

  • Uranium prices are hovering near eight-year lows because an earthquake and tsunami struck Japan in March 2011, crippling the Fukushima-Daiichi atomic power plant, and leading to the shutdown of nearly all reactors in the country, which previously relied on nuclear sources for 30 percent of its power.

  • *Gold steady after 1 pct overnight fall. SINGAPORE, March 5- Gold was little changed on Wednesday as safe-haven buying cooled on easing fears of imminent military action by Russia in Ukraine, and as traders waited for U.S. data for clues on the strength of the economy.

  • LONDON, March 4- Copper rose to its highest in nearly a week on Tuesday, after falling to three-month lows the day before, as a possible softening in Russia's stance on Ukraine eased aversion to assets perceived as risky.

  • KIEV/ LONDON, March 4- Steel and grain exports continue to flow from key global supplier Ukraine via Black Sea terminals with ports operating normal schedules, despite concerns raised by the tense political backdrop, officials and traders said on Tuesday.

  • *Core profit at $13.1 bln beats consensus of $12.3 bln. LONDON, March 4- Commodities trader and mining group Glencore Xstrata Plc has raised its estimate of the savings it expects following last year's Xstrata acquisition, as it focuses on cost-cutting and targets higher returns for shareholders.

  • METALS-Copper rises as Ukraine tension abates Tuesday, 4 Mar 2014 | 8:33 AM ET

    LONDON, March 4- Copper rose on Tuesday, after falling to three-month lows the day before, as a possible softening in Russia's stance on Ukraine eased aversion to assets perceived as more risky.

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