Materials and Metals Metals and Mining

  • Aug 29- Zhongwang USA LLC, a division of China's Zhongwang International Group Ltd., said on Monday it would buy U.S.-based aluminum rolled products maker Aleris Corp from a fund group in a $2.33 billion deal. Zhongwang International is also the parent of China Zhongwang Holdings Ltd, the world's second-largest producer of aluminum extrusions.

  • Aug 29- Building supplies maker USG Corp said it would sell its distribution unit, L&W Supply Corp, to roofing supplier ABC Supply Co Inc for $670 million, as the company looks to cut debt and focus on its high-return gypsum and ceiling businesses. The distribution business accounted for about 38 percent of Chicago- based USG's total sales of $3.78 billion in 2015..

  • This could be the next 'conflict mineral'

    Experts say cobalt is being mined by young children in poor working environments.

  • A child walks past a truck carrying rocks from a mine in Lubumbashi, DRC on May 23, 2016.

    "The glamorous shop displays are a stark contrast to the children carrying bags of rocks and miners in narrow manmade tunnels."

  • LIMA, Aug 28- Peru's economy is set to grow 4 percent this year and 4.8 percent next year, the government said on Sunday in its first set of forecasts since taking power in July, raising estimates on an expected boost from new mines. Peruvian production of mined copper jumped by over 50 percent in the first half of this year, driven by two new mines, Las Bambas and...

  • CARACAS, Aug 26- Venezuela has signed over $5.5 billion in mining deals with companies including Canada's Barrick Gold Corp and China's Shandong Gold, President Nicolas Maduro said on Friday. Earlier this month, Maduro said Venezuela had struck $4.5 billion in mining deals with foreign and domestic companies. It was unclear if the $5.5 billion were part of the...

  • CARACAS, Aug 26- President Nicolas Maduro said on Friday that Venezuela had signed over $5.5 billion in mining deals with companies including Canada's Barrick Gold Corp and China's Shandong Gold. Earlier this month, Maduro said Venezuela had struck $4.5 billion in mining deals with foreign and domestic companies. It was unclear if the $5.5 billion were part of...

  • SANTIAGO, Aug 26- World no. 1 copper miner Codelco produced more copper in the first half of 2016 than a year ago, but made a financial loss, and the chief executive said on Friday that the company position was "extremely fragile." Even though direct cash costs fell 9 percent to $1.275 per pound of copper compared to a year ago, the copper price is down over 20 percent,...

  • TORONTO, Aug 26- Canada's main stock index rose on Friday, led by energy and mining stocks as oil and gold prices gained after a speech by Federal Reserve Chair Janet Yellen viewed as supportive of a U.S. interest rate increase. The most influential movers on the index were gold stocks, including Barrick Gold, which rose 2.3 percent to C $24.2, and Franco Nevada Corp, up...

  • *Inner Mongolia to shutter about 2.9 mln T of steel capacity. LONDON, Aug 26- Zinc hit its highest levels in 15 months on Friday as bearish speculators scrambled to close out positions, though some investors doubted that the hefty gains were entirely justified. LME zinc rallied to its highest since May 2015 at $2,327.50 a tonne before retreating to $2,321 by 1000...

  • MELBOURNE, Aug 26- London zinc touched its highest in 15 months on Friday as fresh shutdowns in China's steel sector added to mine supply concerns to ignite a short-covering rally. China plans to cut steel production by 2.91 million tonnes this year in inner Mongolia, a government official said, according to state media. As China steel mills shutter, steel prices...

  • Rusal's profit slumped 70 percent in the first half of 2016, but the aluminum giant said tightening Chinese supply was helping stabilize metal prices.

  • MELBOURNE, Aug 26- London zinc rallied to its highest in 15 months on Friday as fresh shutdowns in China's steel sector added to mine supply concerns to ignite a short-covering rally. China plans to cut steel production by 2.91 million tonnes this year in inner Mongolia, an industry group reported on its website on Friday. As China steel mills shutter, steel prices...

  • LAUNCESTON, Australia, Aug 25- Is nickel's current rally sustainable or is the metal merely having a strong run because market participants are more focused on the environmental crackdown in top ore miner the Philippines, rather than on the surge in Indonesian ferronickel exports? China imported 3.163 million tonnes of nickel ore and concentrates from the...

  • LONDON, Aug 25- Nickel slumped to the lowest in over six weeks on Thursday after worries eased that an environmental crackdown in the Philippines would create shortages. Nickel had surged 32 percent from the beginning of June until it hit a one-year peak in early August as authorities in the Philippines launched a campaign to close mining operations that...

  • *Dollar retreats ahead of Jackson Hole meeting. LONDON, Aug 25- Gold edged off the previous day's four-week low on Thursday as the dollar retreated, but prices were rangebound ahead of a speech by Federal Reserve Chair Janet Yellen this week which will be watched for clues on monetary policy. Spot gold was up 0.2 percent at $1,324.61 an ounce at 0930 GMT, while U.S....

  • LAUNCESTON, Australia, Aug 25- Is nickel's current rally sustainable or is the metal merely having a strong run because market participants are more focused on the environmental crackdown in top ore miner the Philippines, rather than on the surge in Indonesian ferronickel exports? China imported 3.163 million tonnes of nickel ore and concentrates from the...

  • South32 Guidance

    South32's Graham Kerr says the company has made big inroads in terms of reducing capital expenditure and operating costs.

  • Aug 25- Russian aluminum giant Rusal on Thursday reported a nearly 40- percent drop in second-quarter core earnings due to weak aluminum prices, slightly better than analysts feared, and warned the second half of the year would remain tough. "Looking forward to the second half of the year, we believe that the aluminum industry will remain under pressure," Chief...

  • Aug 25- Gold rose slightly on Thursday after hitting a four-week low in the previous session, with the dollar losing strength ahead of a speech by Federal Reserve Chair Janet Yellen that will be closely watched for clues on U.S. interest rate policy. *Spot gold was up 0.2 percent at $1,326.22 an ounce at 0102 GMT. *Yellen is scheduled to address a meeting of central...