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Materials and Metals Metals and Mining

  • LONDON, Feb 24- Is the Philippines' draconian mining clampdown already affecting the flow of nickel ore to China's nickel pig iron producers? China's import picture is also one of growing diversification of supply, not least from Indonesia, the other political wild-card in the nickel supply chain. China's imports of ore from the Philippines were 779,000 tonnes...

  • *Demand doubts counter supply pinch in Chile, Indonesia. LONDON, Feb 24- Copper clawed back some of the previous session's hefty losses on Friday as supply disruptions in Chile and Indonesia lent support, but stayed on track for a second straight weekly drop as concerns over the demand outlook weighed. Some investors also cashed in after copper hit a 21- month high...

  • Freeport's Grasberg mine holds more gold and copper reserves than any other in the world, but has frequently been a source of controversy over the revenue share Indonesia and Papua get from the mine and the impact of its tailings on local water systems. Here are some facts on the Grasberg mine in Papua:. GRASBERG MINE Freeport-McMoRan began mining in Papua in...

  • BEIJING, Feb 24- China's securities industry association plans to revise rules on private bond sales to restrict issuance of them by property developers, steelmakers and coal producers, two sources with direct knowledge of the plan told Reuters on Friday. Under the revised rules, getting drafted by the Securities Association of China, property developers who...

  • SYDNEY, Feb 24- London copper prices found modest support on Friday after a big fall overnight amid fresh doubts over Chinese demand and some upward movement in the U.S. dollar. *Three-month copper on the London Metal Exchange was up $7, or 0.1 percent, at $5,866 a tonne by 0105 GMT after falling 3 percent in the previous session. *The most-traded copper contract on the...

  • CALGARY, Alberta, Feb 23- Most oil and gas firms in Canada's oil-rich Alberta, which cut costs following the crude crash in 2014, are looking to run even leaner, according to the author of a report from professional services firm EY released on Thursday. The western province of Alberta is home to Canada's vast oil sands deposits and is the top exporter of crude to the...

  • LONDON, Feb 23- Commodities trader and miner Glencore reported an 18 percent rise in full-year profit on Thursday, buoyed by a rebound in raw materials prices, and said it was well-placed financially for small acquisitions or a special dividend payout. Its trading arm achieved adjusted earnings before interest and tax of $2.8 billion, up 14 percent and above...

  • LONDON/ MILAN, Feb 23- European shares fell slightly on Thursday, weighed down by a pull-back in banking and mining stocks in a day where trading activity was dominated by a raft of company earnings. Losses in Barclays and in HSBC, which continued its slide after a disappointing update earlier this week, resulted in a 1 percent fall for Europe's banking index.

  • LONDON, Feb 23- Three of the world's biggest exchanges are launching precious metals contracts in London this year, each aiming for a chunk of the city's $5- trillion- a-year gold business. The London Metal Exchange, CME and ICE see an opportunity as increasing regulatory scrutiny is raising costs for banks trading gold over the counter in bilateral deals.

  • *Trims net debt to $25.08 billon. BRASILIA, Feb 23- Brazilian miner Vale SA reported on Thursday net profit of $525 million for the fourth quarter, falling short of analyst expectations but reversing a heavy loss in the period a year earlier thanks to record output and higher iron ore prices. Analysts at Bernstein said the results were positive, noting the company...

  • LONDON, Feb 23- Commodities trader and miner Glencore reported an 18 percent rise in 2016 profit on Thursday, buoyed by a rebound in raw material prices, and said it was well-placed financially for small acquisitions or a special dividend payout. For the trading, or marketing division that sets Glencore apart from other miners, adjusted earnings before interest...

  • BRASILIA, Feb 23- Brazilian miner Vale SA reported on Thursday net profit of $525 million for the fourth quarter, falling short of analyst expectations but reversing a heavy loss in the period a year earlier. A Reuters poll of analysts had forecast net profit of $1.8 billion in the quarter, but the world's largest producer of iron ore fell short on account of...

  • By Barbara Lewis and Dmitry Zhdannikov. LONDON, Feb 23- Commodities trader and miner Glencore reported an 18 percent rise in 2016 profit on Thursday, buoyed by a rebound in raw material prices, and said it had never been better-placed financially, signaling a readiness for small purchases or a special dividend payout. For the trading, or marketing division that...

  • Miner-trader Glencore reported an 18 percent increase in 2016 profits buoyed by a rebound in commodities.

  • MELBOURNE, Feb 23- London copper prices slipped on Thursday, as concerns about fresh regulations that could dampen China's property boom steepened a correction that began with improving prospects for a U.S. interest rate hike in March. China's Vice Housing Minister Lu Kehua told reporters on Thursday that preparatory work was now being done for a nationwide...

  • *Philippines is world's top nickel ore exporter. MANILA, Feb 23- The Philippines' environment minister on Thursday said President Rodrigo Duterte had backed her decision to ban mining in watershed areas at a meeting earlier this week, winning his support once more for her crackdown on the sector. Don't worry, you are my cabinet secretary and I also believe that...

  • SYDNEY, Feb 23- The first attempt at an acquisition by Australia's South32 following its spinoff from BHP Billiton has raised competition concerns over control of the local coking coal market. Australia's chief competition regulator on Thursday said it was concerned South32's proposed $200 million acquisition of Peabody Energy's Metropolitan colliery...

  • SYDNEY, Feb 23- The first attempt at an acquisition by Australia's South32 following its spinoff from BHP Billiton has raised competition concerns with regulators over control of the domestic coking coal market. Australia's chief competition regulator on Thursday said it was concerned South32's proposed $200 million acquisition of Peabody Energy's...

  • CALGARY, Alberta, Feb 22- U.S. oil major Exxon Mobil Corp has revised down its proved crude reserves by 3.3 billion barrels of oil equivalent as a result of low oil prices throughout 2016, a company filing showed on Wednesday. The de-booking includes the entire 3.5 billion barrels of bitumen reserves at the Kearl oil sands project in northern Alberta, operated by...

  • Workers of the Escondida copper mine block a road as they strike in Antofagasta, Chile, on February 20, 2017.

    Analysts say the company's decision to give up its right to replace striking workers at its Escondida mine puts the ball in the union's court.