Business Materials and Metals

  • *November iron ore imports up 12 pct on year. BEIJING, Dec 8- China imported 91.98 million tonnes of iron ore in November, up 13.8 percent from the previous month and one of the highest volumes on record, official data from the country's customs authority showed on Thursday. The total was an increase of 12 percent from 80.8 million tonnes in November last year and was...

  • LIMA, Dec 7- The government of Pedro Pablo Kuczynski has asked MMG Ltd's copper mine Las Bambas to seek fresh approval for its environmental plan to correct any possible shortcomings, the vice president said Wednesday. Martin Vizcarra said Las Bambas, one of the world's biggest copper pits, would be able to operate as usual while it prepares an "integral"...

  • SYDNEY, Dec 8- Planned changes to Papua New Guinea's mining laws are creating uncertainty ahead of an upcoming election, despite strong interest in proposed multibillion dollar mining and energy projects in the Pacific nation, lenders and advisers say. The quality of the copper, gold and gas resources in the country mean there is appetite to lend to projects...

  • SYDNEY, Dec 8- London copper futures edged up on Thursday after losses the session before, while Shanghai copper lost more ground on mounting concerns a recent rally pinned on strong physical demand was overstretched. *The most-traded copper contract on the Shanghai Futures Exchange slipped 1.38 percent to 47,270 yuan a tonne. *Asian shares hopped higher on...

  • Dec 7- United States Steel Corp could be looking at restoring up to 10,000 jobs in the United States, Chief Executive Mario Longhi told CNBC, without providing a timeline for the additions. During his election campaign, President-elect Donald Trump emphasized his desire to renegotiate trade deals and restore jobs, while also stressing for the next generation...

  • Pfizer Inc., down 37 cents to $31.19. British regulators fined Pfizer about $90 million for raising the cost of an epilepsy drug. AK Steel Holding Corp., up 24 cents to $10.79.

  • DELAWARE, Ohio _ Greif Inc. on Wednesday reported fiscal fourth-quarter earnings of $8.5 million. The Delaware, Ohio- based company said it had profit of 14 cents per share. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

  • Dec 7- United States Steel Corp could be looking at restoring up to 10,000 jobs in the United States, Chief Executive Mario Longhi told CNBC on Wednesday, without providing a timeline for the additions. The company had about 21,000 employees in North America as of Dec. 31, down from about 28,000 in 2007.. The steelmaker is hoping to accelerate its investments in the...

  • The increases come amid signs the siege mentality that permeated all parts of Canada's energy industry is lifting after more than two and a half years of slumping prices. "In western Canada outside of oil sands we expect to see activity increase year over year," said FirstEnergy Capital analyst Mike Dunn. The oil sands produce 2.4 million barrels per day, 65...

  • The increases come amid signs the siege mentality that permeated all parts of Canada's energy industry is lifting after more than two and a half years of slumping prices. "In western Canada outside of oil sands we expect to see activity increase year over year," said FirstEnergy Capital analyst Mike Dunn. The oil sands produce 2.4 million barrels per day, 65...

  • LONDON, Dec 7- Tata Steel UK offered British unions a deal guaranteeing jobs and investment on Wednesday in return for pension cuts, moving the company closer to merging its European assets with Germany's Thyssenkrupp. Britain's largest steelmaker offered to guarantee production at the country's largest steel plant in Port Talbot, Wales, for five years, and to...

  • SANTIAGO, Dec 7- Mining companies in Chile, by far the world's largest copper producer, are examining their energy contracts to see if they can renegotiate terms to incorporate now-cheaper renewable power, company sources say. The moves could also imply major cost savings for Chile's copper industry, which spends around 20 percent of overhead on energy,...

  • LONDON, Dec 7- Tata Steel UK on Wednesday offered British unions a deal guaranteeing jobs and investment in return for cutbacks to pensions, moving the company a step closer to merging its European assets with Germany's Thyssenkrupp. It also offered to invest 1 billion pounds in its UK business over the next 10 years. In return however, Tata, which employs some...

  • LONDON— A deal between multinational Tata Steel and unions secured some 8,000 jobs across Britain on Wednesday in an agreement that ended months of uncertainty for steelworkers and their families. "This proposal would secure jobs for years to come and bring serious investment not just to Port Talbot but to steelworks across the U.K.," said Roy Rickhuss, general...

  • TORONTO, Dec 7- Canada's main stock index rose on Wednesday as higher gold prices supported mining shares, offsetting losses for the energy group as oil lost ground. The Toronto Stock Exchange's S&P/TSX composite index was up 18.87 points, or 0.12 percent, at 15,144.67, shortly after the open. Seven of the index's 10 main groups were higher.

  • BEIJING— Seven coal miners are dead and another four still missing after a gas explosion in a central province in the latest deadly accident to strike China's mining industry, authorities said Wednesday. China is the world's top producer and consumer of coal. China is trying to balance the vast energy demands of the world's most populous country— and an industry...

  • Dec 6- Latin America will play an increasingly important role in Barrick Gold's growth strategy, the world's biggest gold miner said on Tuesday as it named a new director with decades of mining experience in that region. Marcet's deep operational and geopolitical experience in Latin America will be a vital asset as the company evaluates new investments in the...

  • HOUSTON, Dec 6- As oil prices recover and U.S. shale production picks up, energy companies that had planned to ship crude on the Dakota Access Pipeline will turn to rail, a transport method that poses its own risks to the environment and local communities. Sunday's decision by U.S. Army Corps of Engineers to deny Energy Transfer Partners an easement to complete the...

  • HOUSTON, Dec 6- As oil prices recover and U.S. shale production picks up, energy companies that had planned to ship crude on the Dakota Access Pipeline will turn to rail, a transport method that poses its own risks to the environment and local communities. Sunday's decision by U.S. Army Corps of Engineers to deny Energy Transfer Partners an easement to complete the...

  • LONDON, Dec 6- Copper fell on Tuesday as investors cashed in after the previous session's rally, on concerns that the surge in base metals prices over the last month had left markets overstretched. Three-month copper on the London Metal Exchange was down 0.7 percent at $5,908.50 by 1545 GMT. The metal rose 23 percent last month to reach its highest since June 2015...

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