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Materials and Metals Metals and Mining

  • BILLINGS, Mont.— The Interior Department has put on hold changes to how the federal government values huge volumes of coal extracted from public lands, primarily in the Western United States, after mining companies challenged the agency in federal court. The changes, crafted under the administration of President Barack Obama, were aimed at ensuring companies...

  • CALGARY, Alberta, Feb 24- Canada's energy sector has fallen out of favor with international oil majors, who are scaling back ambitions and walking away from reserves in the ground there to focus on lower-cost and higher-margin opportunities elsewhere. Billion-dollar bets on Canada's oil sands went sour this week for Exxon Mobil Corp and Conoco Phillips.

  • TORONTO, Feb 24- A strike at Noranda Income Fund's zinc processing plant in Quebec stretched into a 13th day on Friday, with no talks scheduled between management and the United Steelworkers of America union. Noranda's zinc processing facility in Salaberry-de-Valleyfield is the second-largest in North America and largest in eastern North America, where the...

  • VIENNA— An Austrian court has ordered that Ukrainian oligarch Dymitro Firtash be released from custody pending decisions on separate U.S. and Spanish extradition requests for him. Firtash was indicted by a U.S. grand jury in 2012 for allegedly paying off officials through U.S. banks in a failed attempt to secure titanium mining rights in India worth hundreds...

  • LONDON, Feb 24- Is the Philippines' draconian mining clampdown already affecting the flow of nickel ore to China's nickel pig iron producers? China's import picture is also one of growing diversification of supply, not least from Indonesia, the other political wild-card in the nickel supply chain. China's imports of ore from the Philippines were 779,000 tonnes...

  • *Demand doubts counter supply pinch in Chile, Indonesia. LONDON, Feb 24- Copper clawed back some of the previous session's hefty losses on Friday as supply disruptions in Chile and Indonesia lent support, but stayed on track for a second straight weekly drop as concerns over the demand outlook weighed. Some investors also cashed in after copper hit a 21- month high...

  • Freeport's Grasberg mine holds more gold and copper reserves than any other in the world, but has frequently been a source of controversy over the revenue share Indonesia and Papua get from the mine and the impact of its tailings on local water systems. Here are some facts on the Grasberg mine in Papua:. GRASBERG MINE Freeport-McMoRan began mining in Papua in...

  • VANCOUVER, British Columbia _ Silver Standard Resources Inc. on Thursday reported fourth-quarter net income of $12.1 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Vancouver, British Columbia- based company said it had net income of 10 cents. Silver Standard Resources shares have climbed 22 percent since the...

  • BEIJING, Feb 24- China's securities industry association plans to revise rules on private bond sales to restrict issuance of them by property developers, steelmakers and coal producers, two sources with direct knowledge of the plan told Reuters on Friday. Under the revised rules, getting drafted by the Securities Association of China, property developers who...

  • Residents rallied to keep the stack as part of the legacy of southwestern Montana's mining days, when copper was king and the ore processed in the nearby town of Anaconda was used to electrify the United States. Three years after BP-owned Atlantic Richfield Co. shut down the Anaconda smelter in 1980, the U.S. Environmental Protection Agency designated 300...

  • SYDNEY, Feb 24- London copper prices found modest support on Friday after a big fall overnight amid fresh doubts over Chinese demand and some upward movement in the U.S. dollar. *Three-month copper on the London Metal Exchange was up $7, or 0.1 percent, at $5,866 a tonne by 0105 GMT after falling 3 percent in the previous session. *The most-traded copper contract on the...

  • CALGARY, Alberta, Feb 23- Most oil and gas firms in Canada's oil-rich Alberta, which cut costs following the crude crash in 2014, are looking to run even leaner, according to the author of a report from professional services firm EY released on Thursday. The western province of Alberta is home to Canada's vast oil sands deposits and is the top exporter of crude to the...

  • VANCOUVER, British Columbia _ Eldorado Gold Corp. on Thursday reported a loss of $32.5 million in its fourth quarter. The average estimate of three analysts surveyed by Zacks Investment Research was also breakeven on a per-share basis. This story was generated by Automated Insights using data from Zacks Investment Research.

  • LONDON, Feb 23- Commodities trader and miner Glencore reported an 18 percent rise in full-year profit on Thursday, buoyed by a rebound in raw materials prices, and said it was well-placed financially for small acquisitions or a special dividend payout. Its trading arm achieved adjusted earnings before interest and tax of $2.8 billion, up 14 percent and above...

  • LONDON/ MILAN, Feb 23- European shares fell slightly on Thursday, weighed down by a pull-back in banking and mining stocks in a day where trading activity was dominated by a raft of company earnings. Losses in Barclays and in HSBC, which continued its slide after a disappointing update earlier this week, resulted in a 1 percent fall for Europe's banking index.

  • 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...