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Materials and Metals Metals and Mining

  • SYDNEY, Nov 29- The U.S. Securities and Exchange Commission is investigating a $3 billion impairment charge booked by miner Rio Tinto in 2013 on the value of a Mozambican coal asset, two sources familiar with the matter said on Tuesday. The shock impairment, less than two years after Rio bought Mozambique- focused Riversdale Mining in 2011, helped trigger the...

  • *Seeks premium from China mills for 1st time since 2010. That would be a record high and up from a premium of $1.50 for the four-month period through December this year, said one of the sources who works closely with Rio in China. From Chinese mills, Rio initially sought a 15- cent premium, but this week increased it to about $1, said the same source.

  • YANGON, Nov 29- More than 500 companies list among their suppliers Chinese-controlled firms that indirectly buy tin ore from a mine operated by an ethnic armed group in Myanmar, a Reuters examination of the supply chain found. The Man Maw mine is controlled by the United Wa State Army, which the United States placed under sanctions for alleged narcotics...

  • YANGON/ WASHINGTON, Nov 29- From a remote corner of northeastern Myanmar, an insurgent army sells tin ore to suppliers of some of the world's largest consumer companies. More than 500 companies, including leading brands such as smartphone maker Apple, coffee giant Starbucks and luxury jeweler Tiffany& Co, list among their suppliers Chinese-controlled firms...

  • LONDON/ FRANKFURT, Nov 28- Tata Steel and Thyssenkrupp are looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales, industry sources said, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry. Indian-owned Tata Steel, which employs 11,000 people in...

  • YANGON/ WASHINGTON, Nov 29- From a remote corner of northeastern Myanmar, an insurgent army sells tin ore to suppliers of some of the world's largest consumer companies. More than 500 companies, including leading brands such as smartphone maker Apple, coffee giant Starbucks and luxury jeweler Tiffany& Co, list among their suppliers Chinese-controlled firms...

  • YANGON, Nov 29- More than 500 companies list among their suppliers Chinese-controlled firms that indirectly buy tin ore from a mine operated by an ethnic armed group in Myanmar, a Reuters examination of the supply chain found. The Man Maw mine is controlled by the United Wa State Army, which the United States placed under sanctions for alleged narcotics...

  • *China infrastructure, property investment boost metals. LONDON, Nov 28- Zinc soared to a nine-year high on Monday and lead hit a five-year peak as reports of more infrastructure investment in China and signs of strong property investment in the world's top metals user sparked heavy buying. China on Monday approved a 247 billion yuan railway plan to improve...

  • MUMBAI, Nov 28- Tata Steel UK, the British arm of India's Tata Steel, will hold exclusive talks with trading firm Liberty House to sell its speciality steel business as its parent seeks to offload loss-making assets and restructure European operations. Tata Steel, India's biggest steelmaker by overall capacity, has been trying to restructure its UK business,...

  • *Zinc, lead surge on China infrastructure, property investment. LONDON, Nov 28- Zinc soared to a nine-year high on Monday and lead hit a five-year peak as reports of more infrastructure investment in China and signs of strong property investment in the world's top metals user sparked heavy buying. China on Monday approved a 247 billion yuan railway plan to improve...

  • JAKARTA, Nov 28- Indonesian state-controlled miner PT Aneka Tambang Tbk may not have the cash flow for downstream investments worth at least $500 million if a ban on nickel ore exports is not eased, its chief executive told Reuters on Monday. Indonesia banned metal ore exports in 2014 to encourage miners to build domestic smelters to shift exports from raw...

  • *Shanghai rebar steel up nearly 90 pct this year. *Shanghai exchange to limit size of positions of non-members. Strong property sales in China along with the government's push for more infrastructure projects via its public-private partnership fund have strengthened steel demand while supply is under control as Beijing intensely pursues capacity cuts,...

  • LAUNCESTON, Australia, Nov 28- Almost unnoticed, Rio Tinto Chief Executive Jean Sebastien Jacques has ushered the China iron ore elephant out of the room. News that Rio has quietly abandoned its long-held view that China's steel output will rise to 1 billion tonnes a year by 2030 wasn't exactly hidden by Jacques, but neither was it highlighted when the new boss of...

  • The red-hot rally in steel is bound to push iron ore above $80 a tonne for the first time since October 2014, having lifted zinc to a nine-year high. Strong property sales in China along with the government's push for more infrastructure projects via its public-private partnership fund have strengthened steel demand while supply is under control as Beijing...

  • MELBOURNE, Nov 28- London Metal Exchange zinc surged to its highest in nine years on Monday and lead hit a five-year peak as a searing rally in metals gained steam on a softer dollar and inflation expectations that pushed investors into commodities. *LME zinc surged by more than 5 percent to $2,970 a tonne, which was its highest since October 2007.

  • DRURIDGE BAY, England, Nov 27- In northeastern England, a battle is raging between grass roots campaigners and a company intent on digging a new open cast mine as world coal prices soar. Some wonder how long the coal price surge will last, but in Northumberland, the Banks Group is pressing ahead with plans for a new mine despite opposition from local...

  • Merkel said Germany, which takes over the G20 presidency next month, would push for a collective solution for the worldwide glut that has dampened steel prices for years and raised tensions between China and other major producers. European and U.S. leaders have pressed China to accelerate capacity cuts, blaming its big exports for slumping prices and accusing...

  • *LME lead surges to highest since February 2013. LONDON, Nov 25- Zinc powered to its highest levels in more than 8-1/ 2 years on Friday on continued fund buying but analysts cautioned that prices were outrunning supply/demand fundamentals. Benchmark LME zinc had climbed to $2,791 a tonne by 1530 GMT, a gain of 2.4 percent and its highest since March 6, 2008.

  • BAMAKO, Nov 25- Mali's government plans to take stakes in the country's two gold refineries by 2018, the minister of industrial development told state radio on Friday, in a move to increase revenues from production in Africa's third-largest gold producer. Mali, which expects to produce 47 tonnes of gold this year, has the capacity to refine nearly 55 tonnes per...

  • *Rio seeks premium of $95/ T while Rusal offers $110/ T. TOKYO, Nov 25- Some big aluminum producers seek a premium of $95- $110 per tonne from Japanese buyers for primary metal shipments in the January to March period, up 27-47 percent from the previous quarter, five sources involved in pricing talks said on Friday. Rio Tinto Ltd has offered Japanese buyers a premium of...