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  • BOGOTA, Feb 17- U.S.-based Drummond said it expects coal production in Colombia this year to reach about 30 million tonnes as it increases mining even as prices remain low, its Colombia president Jose Miguel Linares said on Tuesday. Colombia's second biggest coal miner produced about 26.8 million tonnes last year, up 17.5 percent from 2013. The company is...

  • BELGRADE, Feb 17- The sale of Serbia's sole steel mill to U.S. firm Esmark collapsed on Tuesday, in a blow to government efforts to rein in spending under the terms of a loan deal with the International Monetary Fund. The steel mill has been draining $120 million per year in taxpayers' money since Serbia bought it back from U.S. The government committed to cut...

  • Feb 17- Walter Energy Inc forecast a 10 percent drop in sales volume of steel-making coal for 2015 due to sluggish Chinese and European demand, sending its shares down as much as 11 percent. Walter had said in April it would stop production at its Wolverine and Willow Creek mines in British Columbia and temporarily lay off about 700 employees.

  • DUBLIN, Feb 17- Ireland is to proceed with plans for a law requiring tobacco companies to sell cigarettes in plain packets, legislation that has prompted a threat of legal action from Japan Tobacco International. Ireland said in 2013 it wanted to become the first country in the European Union to ban branding on cigarette packages. Australia introduced a ban a few...

  • Feb 17- U.S. coal miner Walter Energy Inc reported a bigger-than-expected quarterly loss as it sold less metallurgical coal after suspending mining operations in Canada. Walter Energy also forecast metallurgical coal sales to fall to 8.5 MMTs to 9 MMTs in 2015 from $9.7 MMTs in 2014, helping to send its shares down more than 8 percent to $1.00 in premarket...

  • LONDON, Feb 16- U.S. shale producers have responded even more quickly to lower oil prices than analysts expected, which should ensure shale production hits a plateau by May or June and is sustained rather than falling in the second half of the year. The number of rigs drilling for oil in the United States declined by another 84 last week, according to oil field...

  • JERUSALEM, Feb 16- Israel's main labour union threatened on Monday to shut Israel Chemicals main Dead Sea potash operations if the fertilizer and specialty chemicals maker does not revise a plan to cut jobs. ICL, which has exclusive permits to extract minerals from the Dead Sea, is one of the three largest suppliers of the crop nutrient potash to China, India and...

  • *China markets closed from Feb. 18 for Lunar New Year holiday. LONDON, Feb 16- Copper retreated on Monday from a three-week high hit on Friday as volumes shrank ahead of the Lunar New Year holiday in China and traders worried about the outlook for demand from the world's top metals consumer. Trading volumes have tailed off as market participants in China wind down...

  • JAKARTA, Feb 16- Indonesia has dropped its demand that Freeport-McMoran Inc build a $1.5 billion copper smelter in Papua province, saying a regionally owned enterprise would take on the project instead, website Detik.com reported, quoting the mining minister. The ministry in December said Arizona- based Freeport, which runs the world's fifth-largest copper...

  • JAKARTA, Feb 14- Indonesia's top tin miner PT Timah has suspended all new sales until benchmark prices of the solder material rise above at least $20,000 per tonne, an official at the state-owned firm said on Saturday. While PT Timah will not take part in any export moratorium, the miner had suspended all sales until prices recover, with the aim of achieving prices...

  • SANTIAGO, Feb 13- Chile's massive Collahuasi copper mine reactivated its main grinding mill on Friday after halting it earlier this week for minor maintenance work, the company told Reuters. Collahuasi, one of the world's largest copper mines, is a partnership between Glencore Plc and Anglo American Plc. Collahuasi produced 470,400 tonnes of copper last year,...

  • CHICAGO, Feb 13- Syngenta AG may file counterclaims against some of the more than 750 U.S. grain farmers and exporters who have sued the seed maker over sales of biotech corn seed that disrupted trading with China last year, regulatory documents show. Syngenta, the world's largest crop chemicals company, is "assessing the scope for potential counterclaims" in...

  • CHICAGO, Feb 13- Syngenta AG may file counterclaims against some of the more than 750 U.S. grain farmers and exporters who have sued the seed maker over its sales of a type of biotech corn seed that disrupted trading with China last year, a regulatory filing shows. Syngenta, the world's largest crop chemicals company, is "assessing the scope for potential...

  • Stealth rally continues on Europe, China easing Friday, 13 Feb 2015 | 10:26 AM ET
    Traders work on the floor of the New York Stock Exchange.

    The US market rally continued Friday as US stocks kept rising on European numbers and easing China regulations.

  • *Dividend unchanged at 85 cents per share. LONDON, Feb 13- Global miner Anglo American took a $3.9 billion writedown after commodity prices tumbled and it warned on Friday of more headwinds, but a steady dividend reassured investors. The company, however, left unchanged its dividend at 85 cents a share after cutting $500 million in overhead costs.

  • The company, which makes about 6 percent of the world's steel and is one of the world's largest iron ore producers, cut its estimate for global steel consumption because of a slowdown in China and heavy declines in Brazil and former Soviet states. The two regions account for about two thirds of ArcelorMittal's steel shipments. Chief Executive Lakshmi Mittal...

  • LONDON, Feb 13- Global miner Anglo American took a $3.9 billion writedown on Friday after commodity prices tumbled, mainly on its Brazilian iron ore operations, and warned of more headwinds. Anglo warned last month of a likely charge on last year's results and analysts had penciled in about $2- 3 billion. The bulk of the impairment, $3.5 billion, was on its Minas Rio...

  • LONDON, Feb 13- Global miner Anglo American took a $3.9 billion writedown on Friday, mainly on its Brazilian iron ore operations, due to weak commodity prices. The company also posted a 25 percent drop in underlying operating profit for last year to $4.9 billion, in line with expectations. Anglo warned last month of a likely charge on last year's results and...

  • TORONTO, Feb 12- Teck Resources Ltd said on Thursday it might have to reduce its dividend in July if industry-wide cuts in the production of steelmaking coal fail to lift prices from current historically low levels. To bring the market back into balance, an additional 12 million tonne reduction in supply is needed above the 30 million tonnes announced since...

  • TORONTO, Feb 12- Shares in Teck Resources Ltd rose on Thursday after the diversified Canadian miner posted quarterly revenue and gross-profit figures that beat analysts' expectations, with currency gains and lower oil costs offsetting the blow from falling commodity prices. Shares in the Vancouver- based miner rose 3.6 percent to C $18.25 in Toronto.

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