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Materials and Metals Metals and Mining

  • MOSCOW, Feb 27- Russia is proposing the creation of an OPEC- like organization for the global aluminum industry, TASS news agency quoted Russian Industry and Trade Minister Denis Manturov as saying on Monday. OPEC, the Organization of the Petroleum Exporting Countries, unites some of the world's largest oil producers. Its members, together with non- OPEC oil...

  • MOSCOW, Feb 27- Russia is proposing the creation of an OPEC- like organisation for the global aluminium industry, TASS news agency quoted Russian Industry and Trade Minister Denis Manturov as saying on Monday. OPEC, the Organization of the Petroleum Exporting Countries, unites some of the world's largest oil producers. Its members, together with non- OPEC oil...

  • HOLLYWOOD, Fla., Feb 27- Shareholders are pressuring miner Freeport-McMoRan Inc to stand up to the Indonesian government over changes the Southeast Asian country wants to make in the U.S. miner's contract, Freeport's chief executive officer said on Monday. Rio Tinto Plc, which is a partner in Freeport's massive Grasberg copper and gold mine in Indonesia, is also...

  • *Markets await Trump speech to Congress on Tuesday. The metal hit its highest since May 2015 on Feb. 13 on news of a strike at BHP Billiton's Escondida copper mine in Chile, and a contractual dispute that halted operations at Freeport-McMoran's Grasberg facility in Indonesia. "Then we have this Donald Trump speech tomorrow in front of Congress.

  • *Markets await Trump speech to Congress on Tuesday. The metal hit its highest since May 2015 on Feb. 13 on news of a strike at BHP Billiton's Escondida copper mine in Chile, and a contractual dispute that halted operations at Freeport-McMoran's Grasberg facility in Indonesia. "Then we have this Donald Trump speech tomorrow in front of Congress."

  • *Strike at Noranda zinc plant in Canada continue. MELBOURNE, Feb 27- London copper slipped on Monday, but prices were supported by simmering concerns over supply amid production stoppages at the world's two biggest copper mines. "We're seeing some consolidation as we have the same story as last week but nothing on the fundamentals has changed," said analyst Helen...

  • MELBOURNE, Feb 27- London copper prices inched towards the key level of $6,000 a tonne on Monday, with supply concerns simmering amid production stoppages at the world's two biggest copper mines. *Shanghai Futures Exchange copper rose 0.8 percent to 48,130 yuan a tonne. *A strike at Noranda Income Fund's zinc processing plant in Quebec stretched into a 13th day on...

  • 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:. Freeport-McMoRan began mining in Papua in 1967, the first...

  • 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...

  • Feb 27- Gold prices held firm on Monday near 3-1/ 2- month highs hit in the previous session as investors await more clarity on President Donald Trump's economic policy. *Spot gold was little changed at $1,256.61 per ounce at 0034 GMT. The metal hit its highest since Nov. 11 at $1,260.10 in the previous session.

  • 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...