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Materials and Metals Metals and Mining

  • LONDON, April 21- Is aluminum the new steel for China's policy-makers? Threats to close capacity in the region around Beijing over the winter heating months had already propelled aluminum prices higher. They have just been given a further boost by news that Beijing has ordered the suspension of new capacity in the northwestern province of Xinjiang.

  • ZURICH, April 23- LafargeHolcim is close to announcing that its chief executive Eric Olsen is to step down following an internal investigation into activities at a former Lafarge cement plant in Syria, a source familiar with the matter said on Sunday. The cement maker in March said one of its cement plants probably paid protection money to armed groups in Syria...

  • ZURICH, April 23- LafargeHolcim is close to announcing that its chief executive Eric Olsen is to step down following an internal investigation into activities at a former Lafarge cement plant in Syria, the Financial Times reported on Sunday, citing sources close to the company. LafargeHolcim declined to comment on the FT report. The cement maker in March said...

  • Joe Manchin and other coal-state Democrats threatened to shut down the government over the issue in December, but they retreated after winning a four-month extension that preserves benefits through April 30. "We will use every vehicle we can, every pathway we can, to make sure we do not leave here... until we have our miners protected," he said in a speech on the Senate...

  • VP raised Freeport dispute in discussion with Widodo. Indonesia's trade ministry issued Freeport with a permit to export 1.1 million tonnes of copper concentrate up to February next year, although it was unclear how long shipments would last. Freeport is still at loggerheads with Indonesia over rights to its giant Grasberg mine in Papua, and tensions with...

  • Tensions are rising around Grasberg, the world's second-biggest copper mine, after operator Freeport laid off thousands of workers there to stem losses from an ongoing dispute with the Indonesian government over mining rights. While Freeport is expecting to soon seal agreements with Jakarta to allow it to temporarily resume copper concentrate exports...

  • BUENOS AIRES, April 21- Barrick Gold Corp and its new Chinese partner presented a $500 million plan on Friday to make safety and environmental improvements to the Veladero gold mine in Argentina after a third cyanide spill in 18 months, a company executive said. Argentina told Barrick earlier this month it had to overhaul environmental and operating processes...

  • BUENOS AIRES, April 21- Barrick Gold Corp and its new Chinese partner presented a $500 million plan on Friday to make safety and environmental improvements to the Veladero gold mine in Argentina after the third cyanide spill in 18 months, a company executive said. Argentina told Barrick earlier this month it had to overhaul environmental and operating...

  • LONDON, April 21- Copper suffered a third week of losses amid a broad decline for industrial metals on Friday as worries over political instability and global demand prompted investors to cut bets on higher prices. *COPPER SUPPLY: The global refined copper market had a 51,000 tonne surplus in January, up from a 44,000 tonne surplus in January last year, the...

  • SEOUL, April 21- South Korea plans to raise the issue of U.S. restrictions on steel imports at World Trade Organization committee meetings next week, its trade ministry said on Friday. The United States has already slapped a series of anti-dumping duties on steel imports from South Korea and other countries. The United States is the biggest market after China for...

  • JAKARTA, April 21- Miner Freeport McMoran Inc.' s Indonesia unit has been granted a permit to export 1.11 million wet metric tonnes of copper concentrate until February of next year, a trade ministry official said. Oke Nurwan, director general of foreign trade at Indonesia's trade ministry, told Reuters the permit was valid until Feb. 16, 2018.

  • *Thousands of "zama zamas" mine gold illegally in South Africa. WESTONARIA, South Africa, April 21- Illegal gold mining has plagued South Africa's mining companies for decades, robbing the industry and state coffers of billions of rand through smalltime pilfering as well as networks run by organised crime. "We will have them out then," Sibanye's Chief Executive Neal...

  • LONDON, April 21- Supply concerns helped copper higher on Friday but the metal was still on track for a third week of losses due to fund selling earlier in the week on fears political instability could hurt global growth. Stocks in warehouses monitored by the Shanghai Futures Exchange declined 11.5 percent to 240,191 tonnes from a week ago.

  • LONDON, April 21- Supply concerns helped copper higher on Friday but the metal was still on track for a third week of losses due to fund selling earlier in the week on fears political instability could hurt global growth. Stocks in warehouses monitored by the Shanghai Futures Exchange declined 11.5 percent to 240,191 tonnes from a week ago.

  • LONDON, April 21- Is aluminium the new steel for China's policy-makers? Threats to close capacity in the region around Beijing over the winter heating months had already propelled aluminium prices higher. They have just been given a further boost by news that Beijing has ordered the suspension of new capacity in the northwestern province of Xinjiang.

  • LONDON, April 21- Is aluminum the new steel for China's policy-makers? Threats to close capacity in the region around Beijing over the winter heating months had already propelled aluminum prices higher. They have just been given a further boost by news that Beijing has ordered the suspension of new capacity in the northwestern province of Xinjiang.

  • *Rebates, huge surplus fuelling China's steel exports. President Donald Trump's first shot across China's bow over its steel exports, escalating a years-long brawl over trade between the world's top two economies, may not pull up Beijing. Speaking in the U.S. capitol at IMF and World Bank meetings after Trump launched a trade probe against China and other...

  • Vice President Mike Pence told Indonesian President Joko Widodo that more steps were needed to resolve the dispute between mining company Freeport McMoRan Inc and the Indonesian government, a White House foreign policy adviser said on Friday. Amid rising tensions around the world's second-biggest copper mine, Pence briefly raised the issue during a...

  • LONDON, April 21- Global steel demand will grow more than previously forecast in 2017 due to a recovery in developed economies and accelerating growth in emerging and developing markets, especially Russia, Brazil and India, an industry body said on Friday. "We expect that Russia and Brazil will finally move out of their recessions. "However, China, which accounts...

  • Tensions are rising around Grasberg, the world's second-biggest copper mine, after operator Freeport laid off thousands of workers there to stem losses from an ongoing dispute with the Indonesian government over mining rights. While Freeport is expecting to soon seal agreements with Jakarta to allow it to temporarily resume copper concentrate exports...