Materials and Metals


  • Aug 6- Coal miner Alpha Natural Resources Inc reported a slightly bigger adjusted net loss for the second quarter as coal prices remained weak. Alpha Natural is also being hurt by poor rail service in Wyoming's Powder River Basin, which is preventing the company from cashing in on an uptick in demand for electricity-generating coal.

  • Coal miner Alpha Natural's quarterly loss widens Wednesday, 6 Aug 2014 | 7:06 AM ET

    Aug 6- Coal miner Alpha Natural Resources Inc reported a bigger quarterly loss as coal prices remained weak. Net loss widened to $512.6 million, or $2.32 per share, in the second quarter ended June 30, from $185.7 million, or 84 cents per share, a year earlier. Revenue dropped 21 percent to $1.05 billion.

  • SINGAPORE, Aug 6- London copper was near one-week lows on Wednesday and Shanghai prices fell one percent, reflecting investor caution as weakness in China's services sector cast doubts on its economic recovery. *The most-traded October copper contract on the Shanghai Futures Exchange dropped 510 yuan to 50,030 yuan per tonne.

  • NEW YORK, Aug 5- Glencore Plc, one of the world's largest mining companies, has asked a U.S. judge to dismiss it as a defendant from nationwide antitrust litigation over the alleged manipulation of aluminum prices.

  • TORONTO, Aug 5- A large pond holding waste matter at one of Imperial Metals Corp's gold and copper mine in central British Columbia in Western Canada has spilled gray sludge into waterways, sending the miner's shares down more than 40 percent on Tuesday.

  • NEW YORK, Aug 5- Glencore Plc, one of the world's largest mining companies, has asked a U.S. judge to dismiss it as a defendant from nationwide antitrust litigation over the alleged manipulation of aluminum prices.

  • *Price tag of development project estimated at $20 billion. BEYLA, Guinea, Aug 5- In a remote, southeastern corner of Guinea, the mist-shrouded Simandou mountain range rises above the lush forest.

  • Glencore seeks to exit U.S. aluminum price-fixing case Tuesday, 5 Aug 2014 | 10:17 AM ET

    In a Monday night filing with the U.S. District Court in Manhattan, Glencore said it lacks minimal contacts with New York, Michigan and California, where the alleged violations took place, and does not even conduct any business in those states.

  • *China July services growth slows to lowest in almost 9 yrs. LONDON, Aug 5- Copper prices slipped on Tuesday, under pressure from data showing growth in China's services sector slowed to its lowest level in nearly nine years, raising concerns about the demand outlook from the world's top metals consumer. Three-month copper 0.2 percent at $7,120 a tonne at 1014 GMT.

  • HARARE, Aug 5- A Zimbabwe- Russia joint venture company, Ruschrome Mining, plans to invest $1.6 billion in developing a platinum mine and constructing a smelter and refinery in the African state, the state-owned Herald newspaper reported on Tuesday.

  • LAUNCESTON, Australia, Aug 5- Prices for thermal and coking coal appear poised to diverge, with the power-plant fuel remaining mired in the doldrums and the steel-making ingredient posting modest gains. The 2011 high was reached after severe flooding in Queensland state, the main coking coal producer in top exporter Australia.

  • SYDNEY, Aug 5- London zinc climbed towards its highest in three years on Tuesday as prospects the United States may hold off raising interest rates encouraged investors to buy metals facing a supply crunch. *The most-traded October zinc contract on the Shanghai Futures Exchange finished the overnight session up 2 percent at 17,135 yuan a tonne.

  • The company's shares were up 2.5 percent at 1077 pence at 1457 GMT on the London Stock Exchange. Vedanta Chairman Anil Agarwal said on Friday his comments on Zambia in a video circulating on the Internet had been taken out of context.

  • SANTIAGO, July 31- Nicknamed' scissorhands' for his agile management of difficult projects, Chilean industry veteran Nelson Pizarro is seen by Codelco's board as the ideal man to lead the world's top copper miner through a tricky yet pivotal phase.

  • *Metinvest accounts for around 40 pct of Ukraine's steel output. MOSCOW, Aug 1- Metinvest, Ukraine's largest steelmaker, said on Friday it was no longer accepting new orders from buyers due to the months-long crisis in east Ukraine which has forced it to cut production.

  • *Cuts outlook to more than $7 bln from about $8 bln before. *Iron ore price assumption cut to $105/ tonne from $120. BRUSSELS, Aug 1- ArcelorMittal SA, the world's largest steelmaker, cut its forecast for earnings this year after lower than anticipated iron ore prices ate into the profit of its mining business, sending its shares down some 6 percent.

  • SYDNEY, Aug 1- London copper was underpinned on Friday by expanding factory activity in China that heralded a rosier outlook for demand, soothing nerves after an overnight rout on Wall Street.

  • *CVR Refining said on Thursday that its 115,000- barrel-per-day Coffeyville, Kansas, refinery, which is a major consumer of West Texas Intermediate crude, could be down four weeks after a July 29 fire in the facility's isomerization unit.

  • NEW DELHI/ SINGAPORE, Aug 1- India is scrambling to crack down on a new gold smuggling tactic that it fears could accelerate a flood of illegal imports of the precious metal into the world's second-biggest buyer.

  • CALGARY, Alberta, July 31- Imperial Oil Ltd reported a tripling of profit on Thursday and said production at its Kearl oil sands project was approaching its 110,000 barrel per day capacity as it continued to tweak operations at Canada's newest oil sands mine.

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