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Business Materials and Metals

  • TORONTO _ Kinross Gold Corp. on Wednesday reported a loss of $116.5 million in its fourth quarter. The Toronto- based company said it had a loss of 9 cents per share. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

  • Feb 15- Some 1,000 unionized employees at Primero Mining Corp have gone on strike at the Canadian gold miner's San Dimas mine in Mexico, halting mining and milling operations, the company and union said on Wednesday. The National Union of Mine, Metal, Steel and Allied Workers of the Mexican Republic said about 1,000 workers began the strike at midnight.

  • TORONTO _ Barrick Gold Corp. on Wednesday reported fourth-quarter net income of $425 million, after reporting a loss in the same period a year earlier. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share. Barrick Gold shares have climbed 21 percent since the beginning of the year.

  • Copper inventories tied to China's Shanghai Futures Exchange have surged 61 percent since the week of Jan. 20 to 277,659 tonnes, the most since May 2016, the latest data shows. Stockpiles held in bonded warehouses in China have edged above 500,000 tonnes, from around 450,000 tonnes in November, according to consultants CRU Group. "In China's bonded market there is...

  • Feb 15- Unionized employees at Primero Mining Corp have gone on strike, resulting in a complete halt to mining and milling operations at the Canadian gold miner's San Dimas mine in Mexico, the company said on Wednesday. Depending on its duration, the strike could have a negative impact on the company's 2017 production, Primero said. As a result, it has decided to...

  • Feb 15- Goldcorp Inc reported a higher-than-expected fourth-quarter profit on Wednesday compared to a steep loss a year ago, as much lower costs at its gold mines in the Americas and a higher gold price offset lower production. That compared with a loss of $4.3 billion, or $5.14 per share, a year earlier when the Canadian miner wrote down the value of a mine in...

  • TORONTO, Feb 15- Barrick Gold Corp said on Wednesday that fourth-quarter profits rose from last year, reflecting further cost cuts and a rise in metal prices, as the world's largest gold miner increased its dividend and planned to further pare its debt. The Toronto- based miner reported an adjusted profit of $255 million, or 22 cents a share, up from $91 million, or 8...

  • LIMA, Feb 15- Peru's economy expanded by a stronger-than-expected pace of 3.25 percent in December from a year earlier and by 3.90 percent in all of 2016 as a surge in copper production offset tepid domestic demand, official data showed on Wednesday. The sol currency surged against the dollar after state statistics agency Inei released the data, prompting the...

  • TORONTO/ VANCOUVER, Feb 15- Canadian miner Teck Resources Ltd reported a better-than-expected quarterly profit on Wednesday, lifted by a surge in the price of coal for steelmaking, but weaker demand at the start of the year spooked investors, sending its shares lower. The Lunar New Year holidays also crimped demand in Asia. Shares of the Vancouver- based company,...

  • *Iran could need more iron ore to reach its goal. LONDON, Feb 15- Iran aims to export 20 to 25 million tonnes of steel annually by 2025, it said in an official statement on Wednesday, up from a previous goal of 10 million tonnes. The Iranian Mines and Mining Industries Development and Renovation Organisation, in the statement published on its website, quoted a member of...

  • *China bonded nickel premiums jump $15 to $180. LONDON, Feb 15- Copper rose on Wednesday on upbeat signals for the U.S. economy and as talks to end a major strike in Chile were delayed, while nickel rose on continued supply disruptions in the Philippines. In Chile, renewed talks in Chile to end a week-long strike at Escondida, the world's biggest copper mine, have been...

  • *Tata can now move to close UK final salary pension scheme. LONDON, Feb 15- Tata Steel's British workers voted on Wednesday to accept pension benefit cuts in return for safeguards on jobs and investment, although the Indian company's plan to spin off its entire UK pension scheme still faces regulatory hurdles. In return for pension changes, Tata Steel has pledged...

  • LONDON, Feb 15- European shares ended higher on Wednesday in another session dominated by earnings, as French lender Credit Agricole led banking stocks to a three-week high. Shares in Credit Agricole jumped 4.7 percent after France's biggest retail bank beat forecasts with a smaller than expected earnings drop in the fourth quarter. "remains one of our...

  • TORONTO, Feb 15- Canadian miner Teck Resources Ltd reported a better-than-expected quarterly profit on Wednesday, lifted by a surge in the price of coal for steelmaking, but said weaker demand in recent weeks was eroding prices and sales. Shares of the Vancouver- based company, which also mines copper, gold and silver, were down 4.3 percent at C $31.27 in early...

  • LONDON, Feb 15- Tata Steel's British workers voted on Wednesday to accept pension benefit cuts in return for safeguards on jobs and investment, although the Indian-owned firm's plan to spin off its entire pension scheme still faces regulatory hurdles. The company's new defined contribution scheme will cover its existing 11,000 UK employees.

  • JOHANNESBURG, Feb 15- Anglo American Platinum, the world's top producer of the precious metal, announced a swing back into profit on Wednesday, along with the sale of another mine, but said it was still not ready to resume dividend payments. On Wednesday Amplats, which is majority-owned by Anglo American, announced it was also selling its Union mine to unlisted...

  • LONDON, Feb 15- The Bank of England said on Wednesday it would keep using trace amounts of animal fat to make new plastic banknotes, as it would cost about 80 million pounds to switch back to paper and resolve vegetarians' and religious groups' concerns. More than 130,000 people signed an online petition last year calling on the BoE to stop using animal products in...

  • *China bonded nickel premiums jump $15 to $180. *Coming Up: U.S. Industrial production Jan at 1415 GMT. LONDON, Feb 15- Copper prices were steady on Wednesday after Federal Reserve Chair Janet Yellen's upbeat assessment of the outlook for the U.S. economy, while nickel rose on supply disruptions in the Philippines.

  • In reporting higher global sales Wednesday, PepsiCo CEO Indra Nooyi reiterated in a call with Wall Street analysts that 45 percent of the company's revenue now comes from such "guilt-free" products. Last year, the Food and Drug Administration said it is re-evaluating its guidelines for when companies can use the term "healthy" on packaging to reflect the latest...

  • VANCOUVER, British Columbia _ Pan American Silver Corp. on Tuesday reported fourth-quarter net income of $21.8 million, after reporting a loss in the same period a year earlier. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share. Pan American Silver shares have climbed 38 percent since the...

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