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Materials and Metals

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  • July 29- Iron ore and coal producer Cliffs Natural Resources Inc reported a second-quarter profit, compared with a year-ago loss, helped by lower costs. The company reported a net profit attributable to shareholders of $60.2 million, or 39 cents per share, for the quarter ended June 30, compared with a loss of $1.9 million, or 2 cents per share, a year earlier.

  • Says to restart Goa mines after monsoons. MUMBAI, July 29- India's Vedanta Ltd said on Wednesday its quarterly profit more than doubled from a year-ago comparison weighed down by a one-time charge, and that it was on track to restart mining in key producing state Goa after monsoons. "We continue to focus on improving efficiency, costs, and enhancing production...

  • COLUMBUS, Ohio _ Installed Building Products Inc. on Wednesday reported second-quarter earnings of $6.5 million. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 23 cents per share. Installed Building Products shares have increased 41 percent since the beginning of the year.

  • LONDON, July 29- British American Tobacco expects its legal challenge to the implementation of "plain packaging" of tobacco in Britain to be heard in court in December, with possible final resolution by the end of 2016, a senior executive said. Britain adopted a law in March that would prohibit tobacco products from being sold with any branding, colours or logos.

  • MEMPHIS, Tenn. _ International Paper Co. on Wednesday reported second-quarter profit of $227 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share. International Paper shares have fallen 9 percent since the beginning of the year, while the Standard& Poor's 500 index has increased nearly 2...

  • LONDON, July 29- Copper prices rose on Wednesday, boosted by stronger Chinese equities and expectations that China, a top consumer of industrial metals, will move to support growth and sentiment with further stimulus. "China is struggling, but its not imploding. Copper is probably now reasonable value. "

  • FRANKFURT, July 29- German potash and salt miner K+ S has turned to economy minister Sigmar Gabriel for help in resisting an unwanted takeover approach by Potash Corp of Saskatchewan Inc, and has discussed the option of German state bank KfW taking a stake in K+ S, a newspaper reported on Wednesday. K+ S earlier this month rebuffed Potash Corp's 7.9 billion euros...

  • SEOUL, July 29- An ugly fight among Lotte Group founding family members for control of the conglomerate's holding company sent shares in group firms jumping on Wednesday as investors bet the founder's sons would seek to boost their stakes. Whether younger son Shin Dong- bin, 60, will be able to maintain his grip on Lotte Holdings remains uncertain as the father...

  • LONDON, July 29- Chilean miner Antofagasta cut is annual copper output forecast for the second time this year on Wednesday due to a delay in the start-up of its Antucoya project, as it posted a double-digit-percentage decline in half-year copper production. The London- listed miner, which has been hurt by a steep fall in prices, declining ore grades, unfavourable...

  • LONDON, July 29- Chilean miner Antofagasta cut is annual copper output forecast on Wednesday due to a delay in the start up of its Antucoya project, as it posted a double-digit percentage decline in its half-year copper production. The London- listed miner, which has been hurt by a steep fall in prices, declining ore grades, unfavourable weather and environmental...

  • MELBOURNE, July 29- London copper jumped on Wednesday as short sellers rushed to cover their positions amid speculation about further stimulus from China, and ahead of a key monetary policy meeting in the United States. Three-month copper on the London Metal Exchange jumped by 1.2 percent to $5,360.50 a tonne by 0141 GMT, adding to 2.2 percent gains in the...

  • MELBOURNE, July 29- London copper climbed on Wednesday, adding to gains in the previous session, as investors bet on further stimulus from China following this week's sharemarket rout, and ahead of a key monetary policy meeting in the United States. *Shanghai Futures Exchange copper climbed 2.2 percent to 38980 yuan a tonne. *The rebound in U.S. jobs, limited in the...

  • LIMA, July 28- Southern Copper Corp said on Tuesday its net income dropped 12.6 percent drop in the first half of the year due to the slump in global metal prices, but it said it was well-positioned to weather the "temporary downturn". "Even though the current economic scenario is affecting metal prices, we believe this is a temporary headwind that will eventually...

  • VANCOUVER, British Columbia _ New Gold Inc. on Tuesday reported second-quarter profit of $9.4 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • *Protesters block Codelco mine access roads across Chile. SANTIAGO, July 28- A week-long strike by Codelco contract workers in Chile briefly stopped work at its second-largest copper mine on Tuesday, as Codelco Chief Executive Officer Nelson Pizarro negotiated with companies that employ the striking workers. Its small Salvador mine, which produced 54,000...

  • July 28- Freeport-McMoRan Inc may cut output at its small North American copper and molybdenum mines to help it reduce costs, analysts said on Tuesday after the miner and oil producer announced a cost and spending review amid weak commodity prices. Shares in Arizona- based Freeport leapt on the announcement, and were last up 9.4 percent at $12.44 on the New York...

  • Shares of Freeport-McMoRan jumped Tuesday after the company said it has started reviewing its mining and oil and gas businesses to look for cost-cutting opportunities in the face of weak markets for its products. Freeport-McMoRan Inc.' s assets include mining operations in North and South America, oil and gas assets in the United States and a minerals...

  • FRANKFURT, July 28- German drugs packaging firm Gerresheimer has agreed to buy U.S. plastic vial maker Centor for $725 million in cash, giving it a leading position in the world's biggest drugs market and lifting its shares to an all-time high. Shares in Gerresheimer jumped more than 15 percent to 65.33 euros, valuing the company at 2.05 billion euros.

  • BRUSSELS, July 28- EU members have backed the imposition of anti-dumping duties on imports of cold-rolled flat stainless steel from China and Taiwan, according to sources familiar with the decision. The European Union will charge tariffs of between 24.3 and 25.3 percent for sheet, coil and strip imports from China and of 6.8 percent for Taiwanese product,...

  • Mozambique coal: boom to bust to wait it out Tuesday, 28 Jul 2015 | 10:20 AM ET

    Just a few years ago, billions of dollars poured into Mozambique, one of the world's poorest nations, in a twin scramble for inland coal and offshore gas. "At this stage Mozambique is not a coal story any more. "It's really a liquefied natural gas story now and I think the government is shifting its focus from coal to LNG," she told Reuters on the sidelines of a Mozambique...

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