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Materials and Metals

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  • Feb 26- Australian billionaire Gina Rinehart's Roy Hill iron ore project is close to finalising a $7.8 billion financing deal, sources said, a vital step towards an end-2015 start for the giant mine in Western Australia's iron-rich Pilbara district.

  • Mexico grants Fresnillo explosives permit for gold mine Wednesday, 26 Feb 2014 | 3:33 AM ET

    LONDON, Feb 26- Mexico has granted precious metals miner Fresnillo a new explosives permit, allowing it to resume operations at one of its gold mines, the company said on Wednesday.

  • Feb 26- Australian billionaire Gina Rinehart's Roy Hill iron ore project is close to finalising a $7.8 billion financing deal, sources said, a vital step towards an end-2015 start for the giant mine in Western Australia's iron-rich Pilbara district.

  • *Initially valued at $500- 600 mln, but the value has fallen. LONDON, Feb 25- Brazilian mining firm B&A Mineração has pulled out of talks to buy BHP Billiton's stake in the Mount Nimba iron ore deposit in Guinea, bank and industry sources said, in the latest sign that projects in riskier countries have become a tough sell.

  • *Follows forecast-beating profit at U.S. rivals Dow, DuPont. LUDWIGSHAFEN, Germany, Feb 25- BASF, the world's largest chemicals company by sales, predicted a small rise in operating profit this year, with an uncertain economic outlook tempering its optimism over growing demand from automakers and consumer goods companies.

  • SYDNEY, Feb 25- London copper on Tuesday eased back towards its lowest level in more than two weeks after economic optimism sparked by some major mergers in the United States started to fizzle, and the focus returned to growth concerns in top user China.

  • We are just providing information, "said Michael Livingston, a government agricultural economist and one of the authors of the report, prepared by the USDA's Economic Research Service.

  • *China property fears send ShFE copper to over-3-month low. LONDON, Feb 24- Copper fell on Monday to its lowest in more than two weeks as data showed growth in new housing prices in China slowed in January and worries about credit restrictions in the country's huge property sector hurt the demand outlook for metals.

  • Feb 24- Canadian exploration company Augusta Resource Corp has asked its shareholders to reject base metal miner HudBay Minerals Inc's hostile offer to buy all the shares in Augusta it does not own. Augusta's Rosemont copper project in Arizona is considered to be one of the most promising in the United States.

  • *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.

  • Is India going back to bullion? Tuesday, 11 Feb 2014 | 9:58 AM ET

    India's trade deficit narrowed in January, but analysts are warning that now is not the time to ease gold import controls.

  • Carlyle nears $3B deal for Illinois Tool unit Thursday, 6 Feb 2014 | 5:02 PM ET
    A sign for the Carlyle Group, a private equity firm, in Washington, DC.

    Carlyle Group is close to reaching an agreement to buy Illinois Tool Works Inc's industrial packaging unit for more than $3 billion, sources said.

  • Gorilla glass vs. sapphire for smartphones     Tuesday, 28 Jan 2014 | 11:05 AM ET

    Corning Incorporated makes gorilla glass for smartphones. Jim Flaws, Corning vice chairman and chief financial officer, discusses the company's relationship with Apple and Samsung. Flaws also explains the threat sapphire presents to gorilla glass.

  • 29.6 carat blue diamond found in S.African mine Tuesday, 21 Jan 2014 | 12:39 PM ET

    A 29.6 carat blue diamond, with a possible price tag of tens of millions of dollars, has been discovered at a mine in South Africa.

  • South African miners treated as 'slaves': Union head Monday, 20 Jan 2014 | 11:57 AM ET
    AMCU leader Joseph Mathunjwa addresses miners in August, 2013

    The president of South Africa's main trade union for platinum workers told CNBC that miners were treated like slaves, after ordering strikes that will start on Thursday.

  • Rio Tinto Iron Ore Parker Point loading facility reclaimer is seen as part of the mining activities of British-Australian mining and resources company Rio Tinto Iron Ore, at Dampier in Western Australia.

    Australian miners shoveled record tonnages of iron ore in the December quarter, supported by billions of dollars worth of expansion plans coming on stream.

  • The outlook for commodity funds after an ugly 2013 Wednesday, 15 Jan 2014 | 12:54 PM ET

    Commodity fund managers face an uphill struggle persuading investors to return to the unloved sector after an abject year.

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