Materials and Metals Metals and Mining

  • LONDON, Aug 30- It's been nearly a year since Glencore announced it was mothballing half a million tonnes of mined zinc capacity. Three-month metal is currently trading just above $2,300 per tonne, compared with $1,700 at the time of the announcement back in October 2015. Several analysts tried to pin Glencore Chief Executive Ivan Glasenberg down on the...

  • DUNDALK, Md.— Under Armour is planning to open a distribution warehouse at the site of a former steel mill east of Baltimore. Under Armour already has a distribution hub in Baltimore that employs 1,200 people. Under Armour's vice president of corporate real estate, Neil Jurgens, says the company chose Sparrows Point over sites in Tennessee, Indiana and Ohio.

  • *Minerals, metals, fuels account for 60 pct of Africa exports. *AngloGold says Ghana govt breached obligations over Obuasi. OBUASI, Ghana, Aug 30- Two years after AngloGold Ashanti suspended production at its giant but loss-making gold mine in Obuasi, central Ghana, the boom of underground explosions has resumed.

  • A floor hand helps line up a pipe while drilling for oil in the Bakken shale formation near Watford City, North Dakota.

    Oil markets could see an increased risk of another major jolt if prices continue remain at current levels, the chief executive of Vedanta Resources said.

  • *China August industrial output likely shrank in August. MELBOURNE, Aug 30- London copper dipped to a 10- week low on Tuesday after falling for the last six sessions, as the market waits for U.S. non-farm payrolls data later this week for further clues on the timing of any U.S. rate hike. It's being battered by some quite conflicting data, then you've got the Fed and...

  • "Gold remains range-bound within a descending triangle over the past month, with price action likely to remain fairly stable while inside this," Alex Thorndike, senior precious metals dealer with MKS PAMP Group, said in a note. "Prices will need to either breach the next major support at $1309- 11 or $1334.80 and $1355 to the topside to garner more interest."

  • MELBOURNE, Aug 30- London copper edged up from a nine-week low on Tuesday after falling for the last six sessions in a row, as the market waits on U.S. non-farm payrolls data later this week for further clues on the timing of any U.S. rate hike. It's being battered by some quite conflicting data, then you've got the Fed and expectations around the rate hike starting to...

  • MELBOURNE, Aug 30- London copper rose on Tuesday as risk appetite grew on bets of further easing by the world's central banks after a meeting in Jackson Hole, Wyoming at the weekend, and as London markets reopened after a long holiday break. *Shanghai Futures Exchange copper traded up 0.1 percent at 36,410 yuan a tonne. *Zhongwang USA LLC, backed by Chinese aluminum...

  • NEW YORK, Aug 29- Zhongwang USA LLC, backed by Chinese aluminum magnate Liu Zhongtian, said on Monday it would buy U.S. aluminum company Aleris Corp in a bet by the billionaire that the nascent U.S. automotive aluminum sector will be the industry's next big growth market. The $2.33 billion deal comes as Liu and Zhongwang International Group Ltd, the parent of...

  • JOHANNESBURG, Aug 29- South Africa's Treasury and state-owned Eskom clashed on Monday over a probe into coal contracts between the power utility and a company linked to the wealthy Gupta family that is accused of holding undue political sway over President Jacob Zuma. The row further scarred relations in a government rocked by a police investigation of...

  • Aug 29- Zhongwang USA LLC, a division of China's Zhongwang International Group Ltd., said on Monday it would buy U.S.-based aluminum rolled products maker Aleris Corp from a fund group in a $2.33 billion deal. Zhongwang International is also the parent of China Zhongwang Holdings Ltd, the world's second-largest producer of aluminum extrusions.

  • Aug 29- Building supplies maker USG Corp said it would sell its distribution unit, L&W Supply Corp, to roofing supplier ABC Supply Co Inc for $670 million, as the company looks to cut debt and focus on its high-return gypsum and ceiling businesses. The distribution business accounted for about 38 percent of Chicago- based USG's total sales of $3.78 billion in 2015..

  • This could be the next 'conflict mineral'

    Experts say cobalt is being mined by young children in poor working environments.

  • A child walks past a truck carrying rocks from a mine in Lubumbashi, DRC on May 23, 2016.

    "The glamorous shop displays are a stark contrast to the children carrying bags of rocks and miners in narrow manmade tunnels."

  • LIMA, Aug 28- Peru's economy is set to grow 4 percent this year and 4.8 percent next year, the government said on Sunday in its first set of forecasts since taking power in July, raising estimates on an expected boost from new mines. Peruvian production of mined copper jumped by over 50 percent in the first half of this year, driven by two new mines, Las Bambas and...

  • CARACAS, Aug 26- Venezuela has signed over $5.5 billion in mining deals with companies including Canada's Barrick Gold Corp and China's Shandong Gold, President Nicolas Maduro said on Friday. Earlier this month, Maduro said Venezuela had struck $4.5 billion in mining deals with foreign and domestic companies. It was unclear if the $5.5 billion were part of the...

  • CARACAS, Aug 26- President Nicolas Maduro said on Friday that Venezuela had signed over $5.5 billion in mining deals with companies including Canada's Barrick Gold Corp and China's Shandong Gold. Earlier this month, Maduro said Venezuela had struck $4.5 billion in mining deals with foreign and domestic companies. It was unclear if the $5.5 billion were part of...

  • SANTIAGO, Aug 26- World no. 1 copper miner Codelco produced more copper in the first half of 2016 than a year ago, but made a financial loss, and the chief executive said on Friday that the company position was "extremely fragile." Even though direct cash costs fell 9 percent to $1.275 per pound of copper compared to a year ago, the copper price is down over 20 percent,...

  • TORONTO, Aug 26- Canada's main stock index rose on Friday, led by energy and mining stocks as oil and gold prices gained after a speech by Federal Reserve Chair Janet Yellen viewed as supportive of a U.S. interest rate increase. The most influential movers on the index were gold stocks, including Barrick Gold, which rose 2.3 percent to C $24.2, and Franco Nevada Corp, up...

  • *Inner Mongolia to shutter about 2.9 mln T of steel capacity. LONDON, Aug 26- Zinc hit its highest levels in 15 months on Friday as bearish speculators scrambled to close out positions, though some investors doubted that the hefty gains were entirely justified. LME zinc rallied to its highest since May 2015 at $2,327.50 a tonne before retreating to $2,321 by 1000...