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Materials and Metals

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  • BILLINGS, Mont.— The Northern Cheyenne tribe is planning additional investigations of cultural sites along the path of a proposed railroad that would open new areas of southeastern Montana to large-scale coal mining. Tribal Councilmember Conrad Fisher said elders will revisit areas previously surveyed by contractors for the Surface Transportation...

  • LONDON, July 27- Chinese steel output fell by 1.3 percent in the first half of the year. This is self-evidently not good news for the iron ore market, given China is the single biggest buyer of seaborne ore. The first-half drop in China's steel production may look marginal, equivalent as it was to just 5 million tonnes less output than in the first half of last year.

  • SPARTANBURG, S.C. _ Synalloy Corp. on Monday reported second-quarter net income of $2.5 million. On a per-share basis, the Spartanburg, South Carolina- based company said it had net income of 28 cents. Synalloy shares have decreased 33 percent since the beginning of the year.

  • MEDINA, Ohio _ RPM International Inc. on Monday reported fiscal fourth-quarter net income of $128 million. RPM International expects full-year earnings to be $2.55 per share. RPM International shares have dropped slightly more than 9 percent since the beginning of the year.

  • SYDNEY, July 27- Australia has fast-tracked the building of prawn farm that is expected to dramatically boost the country's prawn output, as part of a growing focus on food exports to ease the economy's reliance on the faltering mining sector. Seafarms Group Ltd's proposed A $1.45 billion prawn farm in the Northern Territory had been awarded "major project"...

  • SYDNEY, July 27- Billionaire Gina Rinehart has bought a West Australian cattle station, further expanding into the country's farm sector with a deal that positions the mining magnate to profit from a recent Australian live cattle-export agreement with China. Rinehart, the richest person in Australia, completed the purchase of the Fossil Downs cattle station...

  • Taiwan stocks down, in line with regional bourses Sunday, 26 Jul 2015 | 10:03 PM ET

    TAIPEI, July 27- Taiwan stocks fell on Monday, in line with regional markets and Wall Street, ahead of a Federal Reserve rate meeting later this week. Leading chipmakers including world's No.1 chip packaging and testing firm Advanced Semiconductor Engineering Inc and memory chip maker Inotera Memories Inc led declines, falling 2.5 and 2.89 percent,...

  • MELBOURNE, July 27- London copper slipped on Monday to trade near its weakest in six years, as concerns over demand in top user China was compounded by a seasonal slowdown in manufacturing activity over the summer and ample supply. *Three-month copper on the London Metal Exchange edged down by 0.3 percent to $5,246.50 a tonne by 0038 GMT, after also ending softer on...

  • Oil and iron ore will rebound, but not gold: Expert Sunday, 26 Jul 2015 | 6:44 PM ET
    Oil and iron ore will rebound, but not gold: Expert

    Martin Lakos, division director at Macquarie Private Wealth, expects a rebound in the prices of oil and iron ore soon, but gold will likely continue to suffer on the back of a strong dollar.

  • With authorities at the Jamaica- based International Seabed Authority issuing exploration contracts, alarmed conservationists are warning that the deep ocean's fragile biodiversity must be protected and not nearly enough is known about the risks of extracting minerals from seabeds. "The pace of activity has increased dramatically over the last five...

  • TORONTO/ JAKARTA, July 25- Shares of diversified miner and energy producer Freeport-McMoRan sank for a second session on Friday, as uncertainty around Indonesian mining contracts added to worries about spending plans, high debt and falling commodity prices. "They haven't completed the terms," Coal and Minerals director general Bambang Gatot told reporters...

  • SANTIAGO, July 24- A Chilean mining contract worker was shot dead by police on Friday during a protest against state-owned copper company Codelco, prompting union leaders to say a four-day strike would intensify. The CTC did not elaborate on how it would escalate the labor dispute, which has already forced the suspension of operations at Codelco's Salvador...

  • NEW YORK/ LONDON, July 24- Gold turned higher after sliding more than 1 percent to its lowest since early 2010 on Friday, as the dollar fell from its highs and U.S. stocks extended losses, but the precious metal was on track to see the biggest weekly decline since March. Spot gold hit the lowest since February 2010 at $1,077.00 an ounce but was up 0.5 percent at $1,096.29...

  • When water scarcity becomes bad for business Friday, 24 Jul 2015 | 2:38 PM ET
    A footbridge spans a completely dry river bed in Porterville, Calif.

    Competition for water is forcing companies and governments to treat water as a more precious resource than they have in the past.

  • TORONTO, July 24- Shares of diversified miner and energy producer Freeport-McMoRan sank for a second session Friday, as uncertainty around Indonesian mining contracts added to worries about spending plans, high debt and falling commodity prices. Over the past two days, Freeport's market capitalization has shed some $2.9 billion, dropping to $12.75 billion...

  • LONDON, July 24- A slump in metals prices this week and worries over China's growth prospects have heightened investor scrutiny of whether mining companies have the ability to weather the storm ahead. China accounts for almost half of global copper demand, 70 percent of iron ore consumption and vies with India to be the top gold consumer. China's economy is seen...

  • *Copper hits lowest since July 2009. NEW YORK, July 24- Metals prices hit multi-year lows, and stock markets and oil prices declined on Friday, as weaker-than-expected data from China and the euro zone exacerbated concerns over global economic growth. Adding to the bearish tone for Wall Street, Democratic presidential candidate Hillary Clinton is expected to...

  • *To invest $5 bln in refining, petrochemicals by March. MUMBAI, July 24- India's Reliance Industries Ltd said on Friday it will invest $5 billion across its refining and petrochemicals business by next March, after strong refining margins boosted its quarterly profit. Controlled by India's richest man Mukesh Ambani, Reliance is India's second-largest company...

  • SANTIAGO, Chile— A mining contractor was shot dead early Friday in Chile after clashing with police during protests against the state-run copper giant Codelco. The Confederation of Copper Workers said that Nelson Quichillao, 47, was shot by police at 2:00 a.m. near Codelco's Salvador mine in the northern Atacama region. The state-run miner said another...

  • *Maintains interim dividend of $0.32 per share. *Takes non-cash impairment of $3.5 billion. LONDON, July 24- Global mining company Anglo American will shed about 6,000 jobs in the next couple of years as it fights rapidly deteriorating market conditions that have dragged its shares down to a 13- year low this week.

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