Materials and Metals


  • TORONTO, Feb 4- Silver Standard Resources Inc said on Tuesday it will buy the Marigold mine in Nevada for $275 million in cash from joint owners Goldcorp Inc and Barrick Gold in a move aimed at its boosting its gold exposure.

  • Feb 4- The U.S. Food and Drug Administration rejected a migraine drug made by Israel's RedHill Biopharma Ltd and Canada's IntelGenx Corp.. The FDA raised questions about the third-party manufacturing process, as well as the packaging and labeling of the drug, called RHB-103, the companies said in a statement.

  • CAPE TOWN, Feb 4- The chief executive of Kumba Iron Ore, a unit of Anglo American, said he expected South Africa to grant a key mining licence for the company's expansion programme by the end of the first half of the year.

  • International Paper 4th-qtr profit nearly doubles Tuesday, 4 Feb 2014 | 7:23 AM ET

    Feb 4- International Paper Co, the largest North American producer of corrugated shipping boxes, said on Tuesday that fourth-quarter profit nearly doubled due in part to strong sales to Amazon.com Inc and other retail customers.

  • Kumba sees iron ore price fall in second half 2014 Tuesday, 4 Feb 2014 | 6:10 AM ET

    CAPE TOWN, Feb 4- The chief executive of South Africa's Kumba Iron Ore expects iron ore prices to remain stable in the first half of 2014 and then soften in the second half, as more supply from large producers comes on stream, he said on Tuesday.

  • Feb 4- Silver Standard Resources said it will buy the Marigold mine in Nevada for $275 million in cash from joint owners Goldcorp Inc and Barrick Gold in a deal that would provide the Canadian miner more exposure to gold.

  • SINGAPORE, Feb 4- Gold ticked higher for a second session on Tuesday as Asian equities looked set to follow the sharp decline on Wall Street and investors worried over U.S. economic growth after weak manufacturing data. *Gold is considered as a safe-haven asset to risky assets such as stocks.

  • JAKARTA, Feb 4- Indonesia's mines minister, Jero Wacik, has been on an unusual mission in recent months: finding a way out of implementing his own government's policy. A smiling, well-rehearsed politician, Wacik was earlier tourism minister, pushing the charms of his native Bali island and other Indonesian attractions.

  • SAO PAULO, Feb 3- A drop in natural gas prices caused by a shale gas boom in the United States is hurting Brazilian petrochemical company profits by reducing pricing power and making them less competitive, the head of the construction and industrial conglomerate Grupo Odebrecht SA said on Monday.

  • The firm, which late last year lodged its mining license application for Marampa, joins the likes of resource firms London Mining and African Minerals in tapping into the iron ore mining boom in Sierra Leone. "We've asked for the same license agreement as London Mining and African Minerals and don't expect any difficulties.

  • *Forecasts cash costs of $650- $700 per ounce. LONDON, Feb 3- Africa- focused miner Randgold Resources said it was looking to partner with smaller rivals weakened by the lower gold price and would continue to spend on exploration this year, as it posted record production for 2013..

  • LONDON, Feb 3- After running one of the world's biggest and most controversial private military groups, Blackwater founder Erik Prince is starting a new venture providing logistics for oil and mining companies in remote and dangerous parts of Africa. China is increasingly looking to Africa to meet its ever growing demand for natural resources.

  • SYDNEY, Feb 3- London copper drifted on Monday towards two month lows hit the previous session, with slowing factory growth in China darkening the demand outlook for the metal. *China's stock, bond, foreign exchange and commodity futures markets are closed from Jan. 31 through Feb. 6 for the Lunar New Year holiday.

  • Feb 2- Canadian diversified miner Teck Resources Ltd is investigating another spill at its Trail smelting complex in British Columbia, but said on Sunday it does not expect the incident to have a long-term impact on fish or the environment. The sewer leads to a treatment plant that discharges into the Columbia River.

  • Jan 31- Gold and copper producer Newmont Mining Corp might curtail operations in Indonesia unless its dispute with the government over a new export tax is resolved in the next couple months, Chief Executive Gary Goldberg said on Friday.

  • LAGOS, Jan 31- Flour Mills of Nigeria plans to invest $1 billion over the next 3-5 years to fund growth and expand into West Africa, its vice chairman told Reuters in an interview on Friday. But it faces growing competition at home, not least from Dangote Flour Mills, a unit of South Africa's Tiger Brands.

  • LONDON, Jan 31- Critical minerals like rare earths, lithium and tellurium are becoming ever more essential to the modern economy, yet production in the United States remains limited, leaving the country relying on imports from just a handful of countries led by China.

  • SINGAPORE, Jan 31- Gold looked poised to post its first weekly drop in six weeks on Friday as strong U.S. economic growth boosted global equities and the dollar, hurting the metal's safe-haven appeal. *South Africa's metalworkers union said it will down tools at a smelter of top platinum producer Anglo American Platinum from Feb 5.

  • The deal, originally raised by China Credit Trust for an investment in a coal mining company and sold through the Industrial& Commercial Bank of China Ltd., is part of a burgeoning $6 trillion shadow banking sector.

  • MERITING, South Africa, Jan 30- South African miner Venter Mulutsi has one food item in his small fridge: a bag of potatoes that he hopes will last a week. Beyond that, the Impala Platinum miner who has been on strike for a week with around 100,000 of his comrades from the Association of Mineworkers and Construction Union, has a bag of maize meal and a loaf of bread.

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