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  • Jan 11- Canadian gold miner Rubicon Minerals Corp cut the gold reserve estimate for its Phoenix mine in Ontario by 86 percent and said it was considering selling itself among other options, sending its shares down 60 percent. "Not only is this a huge negative development for RMX, but is it also a huge black-eye for the industry," Mackie Research Capital analysts...

  • Jan 11- Canadian gold miner Rubicon Minerals Corp cut the gold reserve estimate for its Phoenix mine in Ontario by 86 percent and said it was evaluating strategic options including a sale, sending its shares down 60 percent. "Not only is this a huge negative development for RMX, but is it also a huge black-eye for the industry," Mackie Research Capital analysts wrote...

  • CHICAGO, Jan 11- Arch Coal, the second-largest U.S. coal miner, filed for Chapter 11 bankruptcy protection on Monday with a plan to cut $4.5 billion in debt from its balance sheet in the midst of a prolonged downturn in the coal industry. Missouri- based Arch Coal has been saddled with debt since its $3.4 billion acquisition of International Coal Group in 2011, which...

  • HONG KONG/ LONDON, Jan 11- The biggest-ever Chinese acquisition of a German company was announced on Monday, with a consortium led by state-owned China National Chemical Corp buying industrial machinery maker KraussMaffei Group for about $1 billion. The ChemChina-led consortium, which also includes Guoxin International Investment Corp and private equity...

  • Jan 11- Arch Coal Inc, the second-largest coal miner in the United States, and its domestic subsidiaries filed for Chapter 11 bankruptcy to facilitate a restructuring with a group of lenders that hold more than 50 percent of its debt, the company said. The Missouri- based company was widely expected to go bankrupt after delaying a $90 million interest payment due...

  • Jan 11- Arch Coal Inc, the second-largest coal miner in the United States, and its domestic subsidiaries filed for Chapter 11 bankruptcy to facilitate a restructuring with a group of lenders that hold more than 50 percent of its debt, the company said. Arch Coal said on Monday it reached an agreement with its lenders that will eliminate more than $4.5 billion in...

  • SANTIAGO, Jan 8- The union at global miner BHP Billiton's Cerro Colorado copper mine in Chile said on Friday that it will go on strike on Monday over failed contract negotiations. "If the company doesn't offer anything better we will go on strike on Monday," said Leoncio Parra, president of Union 1 at the mine. The union, which represents 682 workers at Cerro Colorado,...

  • The company, which also makes Pepperidge Farm cookies and Prego pasta sauces, said it would withdraw from all efforts by groups opposing such measures. Several big companies such as PepsiCo Inc, Kellogg Co and Monsanto Co have resisted such calls and have spent millions of dollars to defeat GMO-labeling ballot measures in states such as Oregon, Colorado,...

  • The company, which also makes Pepperidge Farm cookies and Prego pasta sauces, said it would withdraw from all efforts by groups opposing such measures. Several big companies such as Monsanto Co, PepsiCo Inc and Kellogg Co have resisted such calls and have spent millions of dollars to defeat GMO-labeling ballot measures in states such as Oregon, Colorado,...

  • *India plans to double coal production by 2020. NEW DELHI, Jan 8- India is getting ready to open up commercial coal mining to private companies for the first time in four decades, with the aim of shifting the world's third-biggest coal importer towards energy self-sufficiency. India has an ambitious plan to double its coal production to 1.5 billion tonnes a year by...

  • Investors may be running away from assets with exposure to China, but one analyst says there are at least two companies worth holding on to.

  • NEW YORK, Jan 7- Alcoa Inc's plans to close its 269,000 tonne-per-year Warrick smelter, announced on Thursday, will bring U.S. aluminum output to its lowest level in more than 65 years as the industry endures tumbling prices amid rising trade tensions with China. Warrick is the largest currently-operating smelter in the United States and the biggest shoe to drop...

  • SAN FRANCISCO, Jan 7- A Chinese steel manufacturer faces renewed U.S. criminal charges over allegations that it arranged to improperly obtain confidential trade secrets from DuPont and got access to hacked information from the U.S. company's computers. The indictment against Pangang Group, which was made public on Thursday in San Francisco federal court,...

  • NEW YORK, Jan 7- Alcoa Inc said on Thursday it will permanently close its 269,000 tonne-per-year Warrick Operations smelter in Evansville, Indiana, by the end of first quarter, the latest in a string of U.S. smelter curtailments as producers struggle with tumbling prices. Warrick is the largest operating aluminum smelter in the United States, and its closure will...

  • SAN FRANCISCO, Jan 7- A Chinese steel manufacturer faces renewed U.S. criminal charges over allegations that it arranged to improperly obtain confidential trade secrets from DuPont and got access to hacked information from the U.S. company's computers. The indictment against Pangang Group, which was made public on Thursday in San Francisco federal court,...

  • "The United States continued to import large volumes of gold jewelry in October," Erica Rannestad, senior analyst of precious metals demand at GFMS, said in an email late on Wednesday. "Gold prices averaged 25 percent lower that month than a year earlier, buoying demand for jewelry made with gold amid a strong United States dollar." "Gold prices rose in much of October,...

  • The potential buyer is hoping to clinch a deal with KraussMaffei's owner, Canada's Onex Corp, before the Chinese New Year in early February, the people said on Thursday. They added that the deal may still fall apart or that counterbids may surface that may appeal to Onex. Onex bought KraussMaffei from U.S. investor firm Madison Capital in 2012 in a 568 million-euro...

  • *China stocks suspended after falling 7 pct, 2nd time this week. *Allowing yuan to fall an acknowledgement of weak China growth. LONDON, Jan 7- Copper prices tumbled on Thursday, nearing a six and a half year low, as crashing China equities highlighted the country's economic problems and fuelled concern about demand for industrial metals.

  • *China stocks suspended after falling 7 pct early on. MELBOURNE, Jan 7- London copper hurtled towards nearly seven-year lows on Thursday, after China's stock markets tumbled limit down in early trade, fuelling concerns about the demand for industrial metals in the world's second biggest economy. "The two biggest pressures on metals are coming from the Chinese...

  • SYDNEY, Jan 7- Australian metals refiner Queensland Nickel on Thursday said it had made arrangements to pay employee wages next week amid concerns the private company could be struggling to survive. A slump in the nickel price from nearly $30,000 a tonne in 2011 to less than $8,500 a tonne amid a mounting supply glut has piled pressure on many producers of the...

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