Materials and Metals


  • June 5- Mining equipment maker Joy Global Inc reported a better-than-expected quarterly profit and said orders for maintenance services rose for the second straight quarter. Joy Global shares rose as much as 5.3 percent in early trading on Thursday.

  • However, Andrew Mackenzie said that despite the iron ore market facing temporary overcapacity, there was enough demand coming back from China and elsewhere to justify the firm's capacity increase.

  • BHP Billiton says still looking to sell some assets Thursday, 5 Jun 2014 | 8:04 AM ET

    BEIJING, June 5- Global miner BHP Billiton is still looking to simplify its portfolio by selling some assets and its current strategy is not to acquire other companies, the chief executive of the Anglo-Australian miner said on Thursday.

  • June 5- Mining equipment maker Joy Global Inc reported a 59 percent drop in quarterly profit as miners cut spending on underground mining equipment in the face of weak coal prices. Joy Global, which gets about two-thirds of its revenue from coal miners, said pricing in the metallurgical coal markets in the first three months of 2014 was the weakest since 2009..

  • JAKARTA, June 5- Newmont Mining Corp said on Thursday it has notified the Indonesian government that it is invoking force majeure at its Batu Hijau copper mine and plans to put most of the mine's employees on leave with reduced pay.

  • WASHINGTON, June 4- Kentucky may be well positioned to meet a carbon emission target for power plants set by federal regulators, even as U.S. Senate candidates there blast the plan, saying it will cripple the state's coal industry. The result: the Bluegrass State may be able to meet EPA targets between now and 2030..

  • METALS-Copper falls to two-week low, nickel ticks higher Wednesday, 4 Jun 2014 | 10:38 AM ET

    *Copper cash-to-three backwardation eases to $50/ T. *China traders jittery over financing after Qingdao probe.

  • Germany to set new rules for fracking Wednesday, 4 Jun 2014 | 10:36 AM ET

    BERLIN, June 4- Germany plans to draw up new rules in the coming weeks for the controversial method of fracking for gas, which will impose tight restrictions on the technique that has led to a shale gas boom in the United States. Germany's ruling parties had promised in their coalition agreement last year to set a legal framework for fracking.

  • COLUMN-U.S. EPA goes (relatively) easy on coal: Kemp Wednesday, 4 Jun 2014 | 8:10 AM ET

    LONDON, June 4- Despite the heated war of words between supporters of the coal industry and environmentalists, the Obama administration's Clean Power Plan is relatively generous to coal interests. Coal- fired generation has been declining owing to the abundance of cheap natural gas thanks to fracking.

  • *Copper cash-to-three backwardation eases to $50/ T. LONDON, June 4- Copper prices fell to a three-week low on Wednesday, pressured by signs of a surplus and doubts about the outlook for demand from China, with traders concerned about disruption to import shipments related to a probe of financing deals.

  • JAKARTA, June 4- Foreign copper miners in Indonesia have agreed in principle to pay a controversial export tax, the country's deputy finance minister said, following a series of talks aimed at restarting concentrate exports after a near-five-month halt.

  • --Clyde Russell is a Reuters columnist. NUSA DUA, Indonesia, June 4- "There is no skin left on my teeth to hang on with," was the lament of a coal trader, expressing a sentiment echoed time and again at the industry's largest gathering in Asia.

  • NEW YORK, June 3- American Securities LLC is in advanced talks to acquire specialty chemicals company Emerald Performance Materials LLC from private equity peer Sun Capital Partners Inc for more than $1 billion, people familiar with the matter said on Tuesday.

  • CANADA STOCKS-China data helps drive TSX higher Tuesday, 3 Jun 2014 | 4:53 PM ET

    *B2Gold drops after plan to acquire Australia's Papillon. TORONTO, June 3- Canada's benchmark stock index rose for a third straight session on Tuesday, driven by gains in the share prices of energy producers and financial companies, as positive economic data from China boosted sentiment.

  • LONDON, June 3- The London tin market is quiet. Yet it is also a market that remains in a state of structural supply shortfall with Indonesia, the world's largest exporter of the soldering metal, still keeping a vice-like grip on overseas shipments.

  • *Coming up: U.S. Factory orders for April at 1400 GMT. LONDON, June 3- Copper eased on Tuesday as investors worried about an expected settlement of a dispute in Indonesia that could restart concentrate exports and the impact of a probe at a top Chinese port that has halted shipments.

  • JAKARTA, June 3- Newmont Mining Corp said it has halted copper concentrate production at its Batu Hijau mine in Indonesia as a deadlock continues over controversial mining rules that have halted concentrate exports since mid-January. Newmont and fellow U.S. miner Freeport McMoRan Copper& Gold Inc account for 97 percent of Indonesia's copper output.

  • NEW YORK, June 2- Fairmount Minerals Ltd, one of North America's largest providers of industrial sand to the oil and gas industry, is exploring an initial public offering of around $1 billion that could come later this year, people familiar with the matter said on Monday.

  • CALGARY, Alberta, June 2- Rising U.S. imports of crude oil from Canada's oil sands have not increased greenhouse gas emissions from the country's oil refineries because they have been offset by refining of cleaner domestic crudes, a report from a private sector think tank said on Monday.

  • TORONTO, June 2- A major shareholder of Timmins Gold Corp, which owns the San Francisco gold mine in Mexico, said on Monday it planned to nominate six candidates for the company's eight-member board. Shares of Timmins jumped 5.8 percent to C $1.46 in morning trading on the Toronto Stock Exchange.

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