Materials and Metals Metals and Mining

  • TORONTO, June 21- Canada's main stocks edged lower on Tuesday as losses for gold ahead of a vote by Britain on its European Union membership weighed on mining stocks, offsetting gains for financial and energy stocks. Spot gold fell 1.9 percent as U.S. and European shares rose amid receding expectations that Britain could vote to leave the European Union in...

  • BETHUNE, Saskatchewan, June 21- German fertilizer and salt producer K&S AG will adjust potash production from its new Canadian mine according to price and demand, and will not necessarily maximize output during the industry's worst slump in nearly a decade, Chief Financial Officer Burkhard Lohr said on Tuesday. The fifth-largest global potash producer,...

  • NEW DELHI, June 21- India's cash-rich state coal, power and oil firms will jointly invest nearly $3 billion to revive three mothballed fertilizer plants, a government official said on Tuesday, as the country aims to increase local production of crop nutrients and cut imports. India produced 24.5 million tonnes of urea in the financial year ended March 2016, but...

  • TORONTO, June 21- Canada's main stock index slipped on Tuesday as lower commodity prices weighed on energy and mining stocks, while industrials also fell after one of the country's major railways said it expected revenue to decline due to lower volumes and a major wildfire. At 10:35 a.m. EDT, the Toronto Stock Exchange's S&P/TSX composite index was down 29.61...

  • BERLIN, June 21- Germany's coalition government agreed to ban fracking for shale gas indefinitely on Tuesday, after years of fractious talks over the issue, but environmental groups said the ban did not go far enough and vowed to fight the deal. If the law is approved by parliament, Germany will follow France, which has banned fracking, whereas Britain allows it...

  • BERLIN, June 21- Germany's coalition government agreed to ban fracking for shale gas indefinitely on Tuesday, after years of fractious talks over the issue, but environmental groups said the ban did not go far enough and vowed to fight the deal. If the law is approved by parliament, Germany will follow France, which has banned fracking, whereas Britain allows it...

  • BERLIN, June 21- Germany's coalition government agreed to ban fracking for shale gas indefinitely on Tuesday, after years of fractious talks over the issue, but environmental groups said the ban did not go far enough and vowed to fight the deal. If the law is approved by parliament, Germany will follow France, which has banned fracking, whereas Britain allows it...

  • BERLIN, June 21- Germany's coalition government agreed to ban fracking for shale gas indefinitely on Tuesday, after years of fractious talks over the issue, but environmental groups said the ban did not go far enough and vowed to fight the deal. If the law is approved by parliament, Germany will follow France, which has banned fracking, whereas Britain allows it...

  • By James Regan and Barbara Lewis. SYDNEY/ LONDON, June 21- Rio Tinto replaced the head of its main profit-making iron ore division in a reshuffle by new Chief Executive Jean-Sebastien Jacques, who will run the mining giant from the start of July with a focus on the lowest costs in the business. "A big departure, but not a great surprise given that Andrew must have been...

  • NEW YORK, June 21- Global demand for palladium in automobiles will rise nearly 3 percent to a record in 2016 on growing Chinese demand for small cars and as lower oil prices have spurred U.S. sales of light trucks, CPM Group said on Tuesday. But demand for platinum in automobiles will be flat, the market research firm said in a report. "The Volkswagen diesel vehicle...

  • SYDNEY, June 21- Rio Tinto on Tuesday replaced the head of its iron ore division, its biggest profit maker, as part of a sweeping management reshuffle by incoming Chief Executive Jean-Sebastien Jacques, who takes over next week. However, investors were relieved that another possible contender for the top job, chief financial officer Chris Lynch, would stay on in...

  • LONDON, June 21- European shares steadied on Tuesday after a sharp rally in the previous session, although commodities-related stocks came under pressure following a drop in mining and energy shares. Britain's commodity-heavy FTSE 100 index dropped 0.2 percent after a fall in the prices of industrial metals, with copper slipping 0.5 percent on concerns...

  • SYDNEY, June 21- Rio Tinto on Tuesday replaced the head of its iron ore division, its biggest profit maker, as part of a sweeping management reshuffle by new Chief Executive Jean-Sebastien Jacques, who will take over the reins next week. Iron ore division head Andrew Harding- once tipped as a contender to lead the company- will leave Rio as of July 1, the company said in a...

  • There's finally light at the end of the tunnel for the mining industry.

    Mining industry sentiment has finally started to improve, after several years of gloom amid a commodity price slump.

  • CHICAGO, June 20- The U.S. Department of Justice has opposed a plan by coal producer Alpha Natural Resources to sell valuable assets to its creditors, which it said puts significant mine cleanups at risk, according to a court filing on Monday. The government does not plan to approve the transfer of any federal lease or contract unless cleanups are assured, the...

  • SAO PAULO, June 20- Brazilian mining company Samarco Mineração SA and owners Vale SA and BHP Billiton Plc have hired banks to sound out creditors on a potential renegotiation of $3.8 billion in debt, after a deadly dam spill led to the shutdown of a key mine, a source with direct knowledge of the plan said on Monday. Bloomberg News first reported the hiring of the...

  • SAO PAULO, June 20- Brazilian mining company Samarco Mineração SA and owners Vale SA and BHP Billiton Plc have hired banks to sound out creditors on a potential renegotiation of $3.8 billion in debt, after a deadly dam spill led to the shutdown of a key mine, a source with direct knowledge of the plan said on Monday. Bloomberg News first reported the hiring of the...

  • *Graphic on China aluminum production vs prices: http://tmsnrt.rs/28IXhIq. LONDON, June 20- " China has committed to ensure that its central government policies and support do not target the net expansion of steel capacity; and to actively and appropriately wind down' zombie enterprises' through a range of efforts, including restructuring and bankruptcy."

  • *Graphic on China aluminium production vs prices: http://tmsnrt.rs/28IXhIq. LONDON, June 20- " China has committed to ensure that its central government policies and support do not target the net expansion of steel capacity; and to actively and appropriately wind down' zombie enterprises' through a range of efforts, including restructuring and bankruptcy."

  • LONDON, June 20- Copper and other base metals extended gains on Monday as concern that Britain might leave the European Union eased and nickel hit a six-week peak on concern about top supplier Philippines. The FTSE is up and that's flowing through into today's more risk-friendly environment. Three-month LME copper had climbed 1.7 percent to $4,627.50 a tonne...