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Materials and Metals Metals and Mining

  • LIMA, Feb 14- The new chief executive of Peru's biggest precious metals miner, Buenaventura, said on Tuesday that he does not think the price of gold will trigger the mining industry to initiate new mining projects until it reaches at least $1,350 per ounce.

  • SANTIAGO/ ANTOFAGASTA, Feb 14- Striking workers at Chile's massive Escondida copper mine and mine operator BHP Billiton said they have agreed to renew talks on Wednesday, helping to ease a copper price rally on hopes of an early settlement to the six-day stoppage. Carlos Allendes, leader of the 2,500- strong member union, said on Tuesday it had received and...

  • NEW YORK, Feb 14- Oil prices pared gains after the settlement Tuesday, as evidence of surging U.S. crude oil stockpiles underscored concerns that shale production might limit the effectiveness of an OPEC- led effort to cut global output. Brent crude traded at $55.73 a barrel at 4:39 p.m. Eastern, off the settlement of $55.97 a barrel, which was up 38 cents but well...

  • NEW YORK, Feb 14- Oil settled slightly higher on Tuesday, as rising supply from U.S. shale output limited enthusiasm about an OPEC- led effort to cut global output. Brent crude settled 38 cents higher at $55.97 a barrel, well off the session high of $56.46 a barrel. The Organization of the Petroleum Exporting Countries and other exporters including Russia have...

  • LIMA, Feb 14- Peru will start the bidding on a nearly 100- year old polymetallic smelter and a copper mine at about $270 million in a March 10 auction, the government said on Tuesday. The La Oroya smelter in Peru's central Andes is seen as being worth $334 million and the Cobriza copper mine $71 million, according to the energy and mines ministry.

  • *Protest in north China over building of aluminium plant. LONDON, Feb 14- Copper slipped into the red on Tuesday on hopes strike talks would restart at the world's biggest copper mine in Chile while aluminium touched its highest in 21 months on renewed concerns about potential closures of Chinese smelters to cut pollution. Benchmark copper on the London Metal...

  • *Protest in north China over building of aluminum plant. LONDON, Feb 14- Copper slipped into the red on Tuesday on hopes strike talks would restart at the world's biggest copper mine in Chile while aluminum touched its highest in 21 months on renewed concerns about potential closures of Chinese smelters to cut pollution. Benchmark copper on the London Metal...

  • LONDON, Feb 14- Here we go again? The price of iron ore traded on the Dalian Commodity Exchange rose on Tuesday for the sixth consecutive day and is now at its highest level in three years. Iron ore for delivery to China's Qingdao port jumped 6.5 percent to $92.23 a tonne on Monday, the highest since August 2014, according to Metal Bulletin.

  • *Protest in north China over building of aluminium plant. Benchmark aluminium on the London Metal Exchange climbed 1.8 percent to $1,905 a tonne by 1130 GMT, the highest since May 13, 2015. "It doesn't appear as though production cuts have been implemented, although if the proposed measures are applied this should impact a significant proportion of current...

  • LONDON, Feb 14- Copper prices have surged to 21- month highs above $6,200 a tonne for a gain of more than 40 percent since January 2015 due to worries about supplies after disruptions in top producer Chile, Indonesia and Peru. Forecasts ranged between $4,740 and $5,855. BHP Billiton's Escondida in Chile, the world's largest copper mine, will not be able to meet its...

  • LONDON, Feb 14- Copper prices have surged to 21- month highs above $6,200 a tonne for a gain of more than 40 percent since January 2015 due to worries about supplies after disruptions in top producer Chile, Indonesia and Peru. Forecasts ranged between $4,740 and $5,855. BHP Billiton's Escondida in Chile, the world's largest copper mine, will not be able to meet its...

  • *Freeport hopes to gain new investment guarantees. JAKARTA, Feb 14- Freeport-McMoRan Inc has halted production of concentrate at the world's second-largest copper mine in Indonesia and has begun to send workers home, a spokesman for the company's local unit said on Tuesday. Freeport previously said the suspension of concentrate exports would require the...

  • JAKARTA, Feb 14- Freeport-McMoRan Inc has halted production of copper concentrate in Indonesia and has begun to send home workers at Grasberg, the world's second-largest copper mine, a spokesman for the company's local unit said. Indonesia introduced rules on Jan 12 that restrict copper concentrate exports from the country in an effort to promote the...

  • There's 'no stopping' copper now: Analyst

    Charles Bradford, president of Bradford Research, talks about the reductions in copper supply on the back of strikes at the Escondida mine in Chile.

  • A resurgence in interest for nuclear energy and a sharp reduction in supply is putting a glow on the uranium market as prices surge.

  • *The most-traded copper contract on the Shanghai Futures Exchange rose 0.7 percent to 49,870 yuan a tonne. *Already under fire for widespread environmental damage, Malaysia's once lucrative bauxite mining industry is facing a likely death knell from neighboring Indonesia's move to allow a resumption of exports. *Japan's Mitsubishi Materials Corp aims to...

  • Workers of the Escondida copper mine start an indefinite strike in Antofagasta, Chile, on February 9, 2017.

    A strike that has shut down operations at a northern Chilean copper mine Escondida.

  • NEW YORK, Feb 13- U.S. shale oil production for March is expected to rise by the most in five months to its highest rate since May last year, government data showed on Monday, as energy companies boost drilling on the back of crude prices that are hovering over $50 a barrel. March oil production is forecast to rise by nearly 79,000 barrels per day to 4.87 million bpd,...

  • *Palladium touches highest since Jan. 25. NEW YORK/ LONDON, Feb 13- Gold prices slipped on Monday as the dollar rose and equities climbed, but political and economic uncertainties in the United States and Europe are expected to provide support for now. The spot price was down 0.7 percent at $1,225.71 an ounce by 2:51 p.m. EST, falling further below last week's...

  • LIMA, Feb 13- MMG Ltd has been transporting copper concentrates from its Las Bambas mine in Peru since late on Friday, when residents of a nearby town called off protests that had blocked the road used by the company, a representative of the ombudsman's office said. The flare-up last week threatened to further constrain global supplies of copper as Chile's...