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Business Materials and Metals

  • INTERVIEW-CODELCO'S UNDERGROUND CHUQUICAMATA MINE AIMS TO HAVE CASH COSTS OF UNDER $1 PER LB OF COPPER BY 2025, FROM $1.287/ LB AT CURRENT OPERATION.

  • *China demand seen around 5-7 pct for 2016- Citi. MELBOURNE, Nov 11- London copper was on track for its biggest weekly rally in over 35 years on Friday as hopes of U.S. infrastructure spending on Donald Trump's election win and firming demand from China drag metals out of a years-long bear market. Copper has been pushed higher by a surge in China steel and coal prices, as...

  • *Beijing has been fighting to cool surging coal prices. BEIJING, Nov 11- Unprecedented steps by Beijing to snuff out a months-long rally in coal prices are casting fresh doubts on China's drive to become a global price-setting hub for commodities worth trillions of dollars. Soaring coal markets have sparked a weeks-long effort by China's state economic...

  • SYDNEY, Nov 11- Russian aluminium giant Rusal on Friday posted a better-than-expected 22 percent rise in third quarter core earnings and lifted its forecast for global aluminium consumption. Rusal's third-quarter earnings before interest, taxation, depreciation and amortisation increased to $421 million from $344 million in the second quarter and $420...

  • LONDON, Nov 10- Donald Trump's election has thrown an apparent lifeline to beleaguered coal producers but he may not be able to do much to revive the fortunes of the industry. The U.S. coal industry has been a victim of the shale revolution and the enormous quantities of cheap gas that have been unleashed by hydraulic fracturing and horizontal drilling.

  • MEXICO CITY, Nov 10- Mexico's Elementia, a cement company partly owned by billionaire Carlos Slim, said on Thursday it had completed its 4.37 billion peso capital raise and could now complete its takeover of U.S. peer Giant Cement Holding. It will now buy the 55 percent of Giant Cement for some $220 million, Elementia said, and lend it some $305 million.

  • TORONTO, Nov 10- Canada's main stock index dipped on Thursday as lower commodity prices weighed on gold mining and energy stocks, while higher bond yields weighed on defensive sectors, such as utilities, telecoms and consumer staples. "Higher interest rates are good for banks, but they are not good for a telco or utility because they have a lot of debt outstanding...

  • TORONTO, Nov 10- Mining financier Silver Wheaton Corp sees a $2 billion- plus opportunity as mining companies plan to expand or restart their mines, and switch gears from debt reduction, its chief executive said on Thursday. The bulk of those deals are in the $300 million to $400 million range, with some around $500 million, he said. It reported a profit of 19 cents a...

  • LONDON, Nov 10- Donald Trump's election has thrown an apparent lifeline to beleaguered coal producers but he may not be able to do much to revive the fortunes of the industry. The U.S. coal industry has been a victim of the shale revolution and the enormous quantities of cheap gas that have been unleashed by hydraulic fracturing and horizontal drilling.

  • NEW YORK, Nov 10- What better business pursuit for the daughter of a plumbing equipment supplier than bathroom design? Since 1978, Barbara Sallick and her husband, Robert, have run the luxury bath and kitchen design company Waterworks, headquartered in Danbury, Connecticut. Their son Peter is currently chief executive of the company, while Barbara Sallick just...

  • NEW YORK, Nov 10- What better business pursuit for the daughter of a plumbing equipment supplier than bathroom design? Since 1978, Barbara Sallick and her husband, Robert, have run the luxury bath and kitchen design company Waterworks, headquartered in Danbury, Connecticut. Their son Peter is currently chief executive of the company, while Barbara Sallick just...

  • Worker in copper refinery

    London copper jumped 4 percent to its highest in nearly 16 months on Thursday on expectations that Donald Trump could spur infrastructure spending.

  • SHANGHAI, Nov 10- Chinese packaging makers are bracing themselves for Singles' Day on Friday, stocking up on cardboard and taking on staff ahead of an online shopping bonanza that shifts more goods than Black Friday and Cyber Monday in the United States combined. More packagers have emerged in answer to China's e-commerce boom which began around 2010,...

  • SYDNEY, Nov 10- Top Rio Tinto executives discussed payments to a consultant working to smooth relations with Guinea, weeks after it announced a settlement allowing it access to one of the world's largest iron ore deposits, according to internal emails. A U.S. investigation into Rio's activities and any payments in Guinea, however, could complicate a move...

  • BEIJING, Nov 10- The United States has not told China about an investigation into whether Chinese companies shipped steel through other countries to avoid anti-dumping duties, China's commerce ministry spokesman said on Thursday. "To date, the U.S. has not informed China about this," Shen Danyang told reporters at a routine news briefing. China hopes all...

  • MELBOURNE, Nov 10- London copper jumped 4 percent to its highest in nearly 16 months on Thursday on expectations that policies under U.S. Shanghai copper and aluminum also surged limit-up as London copper gained and as Trump's policies could require China to keep easy monetary policies in place. "To the extent there was raising of trade barriers between the U.S....

  • MELBOURNE, Nov 10- London copper rose 4 percent to its highest level in nearly 16 months on Thursday as Shanghai copper and aluminium surged limit-up on expectations that a U.S. Shanghai aluminium climbed a limit-up 4 pct, while ShFE nickel also neared its 6 percent upside limit. Shanghai zinc and lead also held gains of more than 3 percent.

  • Environmental groups criticized the EPA approval. The EPA signed off on Monsanto's XtendiMax herbicide for in-crop use on Roundup Ready 2 Xtend biotech soybeans, designed to tolerate applications of glyphosate and dicamba, and its Bollgard II XtendFlex cotton, which can tolerate the two chemicals as well as glufosinate. The company is still awaiting an EPA...

  • LIMA, Nov 9- Peruvian miner Milpo expects to produce about 260,000 or 265,000 tonnes of zinc this year, maintaining output levels from recent years, the company's president said on Wednesday. Victor Gobitz said the Lima- listed company, controlled by the Brazilian group Votorantim, expects to start producing copper from its $300 million project Magistral in...

  • MARRAKESH, Morocco/ CHICAGO, Nov 9- The prospect of an abrupt shift in U.S. climate policy under President-elect Donald Trump lifted the shares of U.S. mining equipment giant Caterpillar Inc, North American railroads and other companies tied to fossil fuels, and slammed shares of renewable energy firms. His victory caused dismay at a climate policy conference in...

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