Materials and Metals


  • *The move is a potential victory for Freeport, Newmont. *Minister: Freeport to resume copper exports in near future. A senior government official said Freeport would resume exports of copper concentrate in the "near future".

  • *Indonesia will consider easing export tax after Freeport builds smelter-minister. JAKARTA, Feb 24- U.S. miner Freeport-McMoRan Copper& Gold is expected to resume copper concentrate exports from Indonesia in the "near future", a minister said, after halting shipments due to a dispute over new mining rules imposed last month.

  • PRECIOUS-Gold edges lower after 3rd week of gains Sunday, 23 Feb 2014 | 10:12 PM ET

    *Gold still targets $1,307.46- technicals. SINGAPORE, Feb 24- Gold inched lower on Monday after posting a third straight week of gains, but the precious metal may get support from worries over the pace of the U.S. economic recovery and China's growth.

  • *Copper producers Freeport and Newmont in dispute with govt. The tax ratchets up sharply before an outright export ban from 2017 and Freeport and Newmont Mining Corp, which produce 97 percent of Indonesia's copper, have halted all exports and are locked in talks with the government because they say the tax breaches their contracts.

  • According to the charges, Hixon, who worked in Evercore's mining and metals group, allegedly arranged trades in shares of Evercore as well as two other companies: Westway Group, which merged last year with EQT Infrastructure II, and Titanium Metals Corp, which was purchased last year by Precision Castparts Corp.

  • "Today marks an important milestone for the farm workers who plant, tend, and harvest the food that we put on our tables each day," Gina McCarthy, EPA administrator, said in a statement.

  • SINGAPORE, Feb 21- Gold edged down on Friday, pressured by a firmer dollar and having risen nearly 1 percent in the previous session, but the precious metal was heading for its third week of gains on a patchy recovery in the global economy. *Spot gold eased $2.41 an ounce to $1,320.10 by 0016 GMT.

  • U.S. proposes new safety rules for farm pesticide use Thursday, 20 Feb 2014 | 5:37 PM ET

    "Today marks an important milestone for the farm workers who plant, tend, and harvest the food that we put on our tables each day," Gina McCarthy, EPA administrator, said in a statement.

  • *80 pct of Swiss gold exports head for Asia. NEW YORK/ LONDON, Feb 20- Gold rose on Thursday due to disappointing U.S. and Chinese manufacturing data, but overall improvement in global economic conditions and continued stimulus tapering by the Federal Reserve could dent safe haven demand, traders said.

  • *China's February flash PMI drops to 7- month low. LONDON, Feb 20- Copper slipped to a one-week low on Thursday after the euro weakened and data showed a contraction in China's manufacturing sector, which raised doubts about the outlook for demand from the metal's top consumer.

  • BEIJING, Feb 20- China unveiled dramatic details of charges against a former mining magnate on Thursday, accusing him of crimes ranging from murder to gun-running and extortion as part of a "mafia-style" gang he led.

  • FRANKFURT, Feb 20- European chemicals and plastics makers are cutting in-house research and instead trying to persuade industrial customers to work together on developing running shoes, cars or electronics. Solvay is developing polymer linings for corroded pipelines with an oil major while Lanxess is helping VW unit Skoda make car parts.

  • *Gold to hover above $1,307- technicals. SINGAPORE, Feb 20- Gold edged up in choppy trade on Thursday as the U.S. dollar gave up gains, while demand from the physical sector also underpinned prices. Gold hit a low of $1,308.34 an ounce on a firmer dollar before rising as high as $1,314.70 as the U.S. currency changed course.

  • PRECIOUS-Gold weakens as dollar recovers after Fed minutes Wednesday, 19 Feb 2014 | 11:03 PM ET

    *Gold to hover above $1,307- technicals. SINGAPORE, Feb 20- Gold slipped on Thursday as the dollar firmed after minutes from a U.S. Gold hit an intraday high of $1,314.50 before slipping to $1,309.85 by 0332 GMT, down $1.40.

  • Feb 19- Canadian miner Sherritt International Corp reported a bigger fourth-quarter loss as it took an impairment charge related to the pending sale of its coal operations, and the company slashed its quarterly dividend.

  • BENONI, South Africa, Feb 19- After eight days decomposing in a disused South African gold mine, 32- year-old Blessing's body was so bloated it could barely fit through the tiny tunnel entrance hidden at the foot of a towering mine dump in a town east of Johannesburg.

  • Feb 19- Canadian miner Sherritt International Corp posted a bigger fourth-quarter loss due to an impairment charge of C $466.8 million related to the pending sale of its coal mines, and it slashed its quarterly dividend. Sherritt is selling its coal business for C $946 million to focus on nickel and oil.

  • FACTBOX-Aluminium smelter cutbacks and closures Tuesday, 18 Feb 2014 | 4:54 PM ET

    On Monday, Alcoa Inc said it will close its 50- year-old Point Henry aluminium smelter and two rolling mills in Australia after a two-year review. Russia's Rusal estimates that producers outside of China eliminated up to 1.2 million tonnes of capacity last year and further reductions of 1 million-1.5 million tonnes are expected in 2014..

  • *Underlying profit of $7.76 bln v $6.9 bln consensus. *Shares in Australia hit one-year high, outpace market. MELBOURNE, Feb 18- Global miner BHP Billiton topped market forecasts with a 31 percent rise in first-half profit on Tuesday and hinted it may launch a share buyback in August, despite giving a cautious outlook on Chinese growth.

  • *China's central bank drains $7.9 bln from the market. *Alcoa to shut Port Henry aluminium smelter in Australia. LONDON, Feb 18- Copper rose on Tuesday as support from a strong euro helped cushion concerns about short-term demand in China after its central bank moved to tighten the money supply.

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