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Business Materials and Metals

  • LONDON, Oct 28- Tin prices rallied to a two-year high on Friday, helped by concerns over supply from Asia and a drop in stockpiles to a 12- year low, while aluminum hit peaks not seen since July 2015. Three-month tin on the London Metal Exchange hit a peak of $20,615 a tonne, its highest since October 2014, and was up 1.1 percent in official midday trading at $20,600.

  • MUNICH, Germany, Oct 28- German industrial gases group Linde is not considering reviving merger talks with rival Praxair, its outgoing chief executive told Reuters on Friday. "Praxair is not a live issue for us," Wolfgang Buechele said after the company presented a new restructuring plan involving thousands of job cuts, a likely exit from some markets and the...

  • LONDON/ BENGALURU, Oct 28- Mining company Rio Tinto has agreed to sell its stake in Guinea's Simandou project to Chinalco, it said on Friday, potentially kickstaring the long-stalled scheme to develop the world's largest untapped iron ore reserves. China, the world's largest iron ore consumer, provides an obvious market for Simandou, which Guinea is counting on...

  • LONDON, Oct 28- Major miner Rio Tinto announced an agreement on Friday to sell its stake in a project to develop the world's biggest untapped iron ore reserves in Guinea to Chinalco. Rio has a 46.6 percent stake in the Simandou project, while Chinalco, a state-owned Chinese metals producer, has 41.3 percent and the Guinea government owns 7.5 percent.

  • LONDON, Oct 28- Tin prices rallied to their highest since December 2014 on Friday, helped by concerns over supply from Asia and a further decline in stockpiles, while aluminium rose to peaks not seen since July last year. Three-month tin on the London Metal Exchange hit a high of $20,600 a tonne, matching its December 2014 peak, and by 0945 GMT was up 0.7 percent at...

  • LONDON, Oct 28- Tin prices rallied to their highest since December 2014 on Friday, helped by concerns over supply from Asia and a further decline in stockpiles, while aluminum rose to peaks not seen since July last year. Three-month tin on the London Metal Exchange hit a high of $20,600 a tonne, matching its December 2014 peak, and by 0945 GMT was up 0.7 percent at...

  • TORONTO/ BUENOS AIRES, Oct 28- Chinese state-owned miners considering buying into Barrick Gold Corp's operations in Argentina would take on assets that are under regulatory scrutiny and entangled in lawsuits and investigations. In the four years to 2014, 68 percent of the 210 "regulatory actions and incidents" reported by Barrick were in Argentina, according...

  • SYDNEY, Oct 28- London copper prices dipped on Friday following overnight gains, while Shanghai futures were firmer amid expectations that physical demand in China will pick up. *Three-month copper on the London Metal Exchange eased 0.1 percent to $4,785 a tonne by 0100 GMT. *The most-traded copper contract on the Shanghai Futures Exchange was up 0.7 percent to...

  • How Fortescue Metals is keeping costs down

    A rebound in iron ore prices has benefited low-cost producers like Fortescue Metals Group, which uses autonomous trucks on its mine sites.

  • VANCOUVER, Oct 27- Teck Resources Ltd, North America's largest producer of steel-making coal, does not expect two months of surging coal prices to trigger a flurry of restarts by idled mines anytime soon, company officials said on Thursday. New supplies would take time to come to market, they said, noting that many shuttered mines, especially in the United States,...

  • MUMBAI, Oct 27- Tata Steel Ltd's plans for its European steel business are unchanged and the debt-laden firm is still seeking a partner for a joint venture to run the assets, according to a source present at a closed-door analyst briefing on Thursday. The process was suspended in July because of uncertainty over Britain's vote to leave the European Union.

  • TORONTO/ WINNIPEG, Oct 27- Shareholders of Agrium Inc and Potash Corp of Saskatchewan Inc are set to overwhelmingly approve a merger of the two Canadian fertilizer producers, according to a source familiar with the situation, despite initial skepticism from Agrium investors. Potash shares dipped slightly in New York and Toronto on Thursday, while Agrium stock...

  • TORONTO/ WINNIPEG, Oct 27- The shareholders of Agrium Inc and Potash Corp of Saskatchewan Inc are set to overwhelmingly approve a merger of the two Canadian fertilizer producers, according to a source familiar with the situation, despite initial skepticism from Agrium investors. On Nov. 3, shareholders of Agrium and Potash will vote in separate meetings in...

  • Potash Corp in September agreed to combine with Agrium to navigate a severe industry slump by boosting efficiency and cutting costs. Potash shares rose 1.1 percent to $16.96 in New York and have gained nearly 8 percent in the past 10 days. From this point, it really is all about the upcoming merger with Agrium, "said Michael Underhill, chief investment officer of...

  • ROME/ MILAN, Oct 27- Italy's Cementir Holding will launch its first ever bond next year as the cement maker takes advantage of record-low interest rates to fund two recent acquisitions, its chief executive said, adding he was still interested in more deals. Italy's third-largest cement maker has just refinanced around 700 million euros in loans with a...

  • *Sales up 3.7 pct to $12.48 bln vs est $11.96 bln. *Adjusted EPS profit $0.91 vs est. The company's shares were up 1.6 percent at $54.60 in premarket trading on Thursday.

  • Potash Corp in September agreed to combine with fellow Canadian fertilizer producer Agrium Inc to navigate a severe industry slump by boosting efficiency and cutting costs. The company cut the upper end of its full-year earnings forecast to 45 cents per share from 55 cents. Net income fell to $81 million, or 10 cents per share, from $282 million, or 34 cents per...

  • BRASILIA, Oct 27- Brazilian miner Vale SA will go ahead with the sale of its fertilizer business after its board of directors gave its approval, the newspaper Valor Economico reported on Thursday. Reuters reported on Oct. 5 that Brazil's global mining company was negotiating the sale of the business with Mosaic and Yara for at least $3.6 billion.

  • SINGAPORE, Oct 27- Global efforts to cut carbon dioxide emissions will be key for the adoption of liquefied natural gas as a marine fuel, German shipowner and ship-management firm Bernhard Schulte said. Shipping emits around 1 billion tonnes of carbon dioxide, accounting for about 2.5 percent of global greenhouse gas emissions, but this can be cut by about 75...

  • BRASILIA, Oct 27- Brazilian miner Vale SA on Thursday reported third quarter net profit of $575 million, as the world's largest producer of iron ore returned to profit after a hefty loss during the same quarter last year. Net profit was down 48 percent from the second quarter, and below analyst estimates of $758.9 million, with Vale citing a weakening Brazilian...

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