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Materials and Metals Metals and Mining

  • GENEVA— The chief executive of Glencore says the Swiss mining and metals company is better positioned than ever after core profits rose 48 percent last year amid recovering commodity prices and cost cutting policies. The Baar, Switzerland- based company reported net income before exceptional items of $1.99 billion in 2016, against $1.34 billion the year...

  • LONDON, Feb 23- Three of the world's biggest exchanges are launching precious metals contracts in London this year, each aiming for a chunk of the city's $5- trillion- a-year gold business. The London Metal Exchange, CME and ICE see an opportunity as increasing regulatory scrutiny is raising costs for banks trading gold over the counter in bilateral deals.

  • *Trims net debt to $25.08 billon. BRASILIA, Feb 23- Brazilian miner Vale SA reported on Thursday net profit of $525 million for the fourth quarter, falling short of analyst expectations but reversing a heavy loss in the period a year earlier thanks to record output and higher iron ore prices. Analysts at Bernstein said the results were positive, noting the company...

  • TORONTO _ Alamos Gold Inc. on Thursday reported a loss of $20.6 million in its fourth quarter. The Toronto- based company said it had a loss of 8 cents per share. Alamos Gold shares have climbed 17 percent since the beginning of the year.

  • LONDON, Feb 23- Commodities trader and miner Glencore reported an 18 percent rise in 2016 profit on Thursday, buoyed by a rebound in raw material prices, and said it was well-placed financially for small acquisitions or a special dividend payout. For the trading, or marketing division that sets Glencore apart from other miners, adjusted earnings before interest...

  • BRASILIA, Feb 23- Brazilian miner Vale SA reported on Thursday net profit of $525 million for the fourth quarter, falling short of analyst expectations but reversing a heavy loss in the period a year earlier. A Reuters poll of analysts had forecast net profit of $1.8 billion in the quarter, but the world's largest producer of iron ore fell short on account of...

  • VANCOUVER, British Columbia _ Taseko Mines Ltd. on Wednesday reported fourth-quarter net income of $3.8 million, after reporting a loss in the same period a year earlier. The Vancouver, British Columbia- based company said it had net income of 1 cent per share. For the year, the company reported that its loss narrowed to $23.7 million, or 11 cents per share.

  • COEUR D`ALENE, Idaho _ Hecla Mining Co. on Thursday reported fourth-quarter net income of $20.3 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Coeur d`Alene, Idaho- based company said it had profit of 5 cents. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per...

  • TORONTO _ North American Palladium Ltd. on Wednesday reported a loss of $9.7 million in its fourth quarter. The Toronto- based company said it had a loss of 17 cents per share. Keywords: North American Palladium, Earnings Report.

  • By Barbara Lewis and Dmitry Zhdannikov. LONDON, Feb 23- Commodities trader and miner Glencore reported an 18 percent rise in 2016 profit on Thursday, buoyed by a rebound in raw material prices, and said it had never been better-placed financially, signaling a readiness for small purchases or a special dividend payout. For the trading, or marketing division that...

  • Miner-trader Glencore reported an 18 percent increase in 2016 profits buoyed by a rebound in commodities.

  • MELBOURNE, Feb 23- London copper prices slipped on Thursday, as concerns about fresh regulations that could dampen China's property boom steepened a correction that began with improving prospects for a U.S. interest rate hike in March. China's Vice Housing Minister Lu Kehua told reporters on Thursday that preparatory work was now being done for a nationwide...

  • *Philippines is world's top nickel ore exporter. MANILA, Feb 23- The Philippines' environment minister on Thursday said President Rodrigo Duterte had backed her decision to ban mining in watershed areas at a meeting earlier this week, winning his support once more for her crackdown on the sector. Don't worry, you are my cabinet secretary and I also believe that...

  • SYDNEY, Feb 23- The first attempt at an acquisition by Australia's South32 following its spinoff from BHP Billiton has raised competition concerns over control of the local coking coal market. Australia's chief competition regulator on Thursday said it was concerned South32's proposed $200 million acquisition of Peabody Energy's Metropolitan colliery...

  • SYDNEY, Feb 23- The first attempt at an acquisition by Australia's South32 following its spinoff from BHP Billiton has raised competition concerns with regulators over control of the domestic coking coal market. Australia's chief competition regulator on Thursday said it was concerned South32's proposed $200 million acquisition of Peabody Energy's...

  • CALGARY, Alberta, Feb 22- U.S. oil major Exxon Mobil Corp has revised down its proved crude reserves by 3.3 billion barrels of oil equivalent as a result of low oil prices throughout 2016, a company filing showed on Wednesday. The de-booking includes the entire 3.5 billion barrels of bitumen reserves at the Kearl oil sands project in northern Alberta, operated by...

  • Workers of the Escondida copper mine block a road as they strike in Antofagasta, Chile, on February 20, 2017.

    Analysts say the company's decision to give up its right to replace striking workers at its Escondida mine puts the ball in the union's court.

  • KIEV, Feb 22- The Ukrainian central bank will take "anti-crisis measures" if a rail blockade in Ukraine's war-torn east continues, resulting in lost foreign exchange earnings, the head of the regulator told Reuters. On Monday, Ukraine's largest steel producer, Metinvest, said the blockade had forced it to halt production temporarily at one of its mills and several...

  • KIEV, Feb 22- The Ukrainian central bank will take "anti-crisis measures" if a rail blockade in Ukraine's war-torn east continues, resulting in lost foreign exchange earnings, the head of the regulator told Reuters. On Monday, Ukraine's largest steel producer, Metinvest, said the blockade had forced it to halt production temporarily at one of its mills and several...

  • BEIJING, Feb 22- China will ratchet up planned steel production cuts and target illegal factories in an effort to reduce pollution during the winter, an official said on Wednesday. Steel producing cities in China's Hebei province must also cut production in half during the winter season and seasonal production halts on cement and casting industries in the...