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  • Feb 19- General Motors Co on Thursday named Craig Glidden, chief legal officer at chemicals company LyondellBasell Industries NV, as its general counsel, succeeding Michael Millikin, who is retiring in July. Glidden, 57, helped steer LyondellBasell out of bankruptcy and through restructuring. Glidden has been LyondellBasell's top lawyer since 2009, the same...

  • TORONTO, Feb 19- Goldcorp Inc on Thursday said its fourth-quarter loss more than doubled as it took a $2.3 billion impairment charge on its new Cerro Negro gold mine in Argentina. The company, the world's biggest gold producer by market value, said its net loss widened to $2.4 billion, or $2.94 a share, from $1.1 billion, or $1.34 a share, a year earlier.

  • RIO DE JANEIRO, Feb 19- Brazilian miner Vale SA said on Thursday it produced 319.2 million tonnes of iron ore in 2014, beating its forecast for the year, as it begins to boost production after years of stagnation. The growth in production will be more than offset by falling iron ore prices, which fell by half last year as a massive increase in Australian capacity...

  • Feb 19- U.S. drinks can maker Ball Corp agreed to buy British rival Rexam Plc in a sweetened 4.43 billion pounds deal, creating an industry giant that can better manage capital spending and costs as aluminium premiums rise. Shares in Rexam, which makes cans for Coca-Cola Co and Anheuser-Busch InBev, rose more than 6 percent to 571.5 pence in early trading before...

  • *China's markets closed for Lunar New Year holiday. Three-month nickel prices on the London Metal Exchange dropped to a session low of $13,910 a tonne, the weakest since Feb. 6, 2014, and slightly pared losses to $13,945 by 1041 GMT, down 2.2 percent. That might have weighed on sentiment, "said Xiao Fu, head of commodity market strategy at Bank of China International in...

  • OSLO/ FRANKFURT, Feb 19- Norwegian fertiliser maker Yara and German chemicals firm BASF will spend $600 million building an ammonia plant in Texas, taking advantage of cheap shale gas to expand their presence in the United States, the companies said. Yara will own 68 percent of the project, to be built on BASF's industrial complex in Freeport, while the German firm...

  • VANCOUVER/ MELBOURNE, Feb 19- Miners who can't get financing for new projects from banks or traditional equity investors because metals prices have collapsed are turning to an alternative source: the engineering and construction companies, many from China and South Korea, who actually build their mines. China's NFC and South Korea's POSCO Engineering&...

  • METALS-London copper prices drift on Lunar New Year lull Wednesday, 18 Feb 2015 | 8:43 PM ET

    MELBOURNE, Feb 19- London copper edged lower on Thursday, paring gains from a short-covering burst the session before, with trade subdued as many Asian nations celebrate Lunar New Year. Copper is expected to remain stuck in the $5,300- 5,800 range in place for the past month until Chinese buying activity ramps up in mid-March. *Other markets taking some holiday...

  • Feb 18- Barrick Gold Corp said on Wednesday it will sell its Porgera mine in Papua New Guinea and its Cowal mine in Australia to help reduce net debt by at least $3 billion by year-end, giving investors a long-awaited glimpse into its strategy. Barrick, the world's biggest gold producer, also said it was reducing the size of its Toronto head office by close to half...

  • Feb 18- Barrick Gold Corp said on Wednesday it plans to reduce its net debt by $3 billion by the end of the year through moves that will include selling its Porgera mine in Papua New Guinea and its Cowal mine in Australia. The Toronto- based company reported a net loss in the fourth quarter as it booked $2.8 billion in after-tax impairment charges related mostly to...

  • Feb 18- Barrick Gold Corp on Wednesday reported a net loss in the fourth quarter as it booked $2.8 billion in after-tax impairment charges related mostly to its Lumwana mine in Zambia and its Cerro Casale project in Chile.

  • *Markets eye outcome of Greece talks with creditors. *Platinum pares losses after sliding to 5-1/ 2 year low. NEW YORK/ LONDON, Feb 18- Gold rose on Wednesday, rebounding above a six-week low after minutes from the Federal Reserve's latest meeting showed policymakers were concerned about raising interest rates too soon.

  • RIO DE JANEIRO, Feb 18- Brazilian steelmaker Usiminas posted a net loss of 117 million reais in the fourth quarter due to low steel demand from a stalling local economy and falling iron ore prices, the company said on Wednesday after delaying its results for several days. Shares of Usinas Siderurgicas de Minas Gerais SA, as the company is formally known, were up 4.4...

  • MOSCOW, Feb 18- Indebted Russian coal and steel producer Mechel has sold its U.S.-based Bluestone coal business back to its original owner, the James Justice family, in an attempt to free up cash to service its debt, Mechel said on Wednesday. Six years ago, Mechel bought the business from the Justice family from West Virginia for $436 million in cash plus preferred...

  • Zhang Guangning, chairman of the China Iron& Steel Association, started it, when he told the Association's annual conference in January that " China's steel sector has already entered a period of peaking and flattening out. Because China, the engine of global steel production and consumption, is not supposed to have reached the stage of "peaking and flattening" yet.

  • RIO DE JANEIRO, Feb 18- Brazilian steelmaker Usiminas said on Wednesday it posted a net loss of 117 million reais in the fourth quarter due to low steel demand from a stalling local economy and falling iron ore prices. Analysts had forecast a quarterly net loss at Usinas Siderurgicas de Minas Gerais SA, as the company is formally known, of 118.81 million reais,...

  • METALS-Copper rebounds as Chinese sellers go on holiday Wednesday, 18 Feb 2015 | 10:20 AM ET

    LONDON, Feb 18- Copper rebounded on Wednesday after hefty falls in the previous session as some bulls took advantage of Chinese investors being absent due to the week-long Lunar New Year holiday. Copper prices have recovered around 8 percent since hitting the 5-1/ 2 year low in January, but the metal used in power and construction has still fallen some 9 percent so...

  • MOSCOW, Feb 18- Russian steelmaker Severstal reported its best core earnings margin in six years in the last quarter of 2014, helped by a weakened rouble which lifted exports and cut its costs, the company said on Wednesday. Severstal is the first Russian steelmaker to report financials for the final quarter of last year, when the rouble lost 30 percent against...

  • LONDON, Feb 18- Copper inched up on Wednesday on bargain-hunting following hefty falls in the previous session, though thin trading exaggerated the price move as consumers in China were absent due to the week-long Lunar New Year holiday. Copper prices have recovered around 6 percent since hitting a 5-1/ 2 year low in January, but the metal used in power and...

  • MOSCOW, Feb 18- Severstal, one of Russia's largest steel producers, said on Wednesday its fourth-quarter net loss had widened to $795 million from a loss of $45 million in the previous quarter due to non-cash items. Without the non-cash items- a foreign exchange loss and an impairment charge- the company would have posted a net profit of $534 million in the fourth...

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