Materials and Metals Metals and Mining

  • A worker walks among rolls of semi-finished aluminum at the Alcoa aluminum factory

    Alcoa said its split into two publicly traded companies is expected to be effective Nov. 1, after the company's board approved the separation.

  • SYDNEY, Sept 30- The world's fourth biggest copper deposit Australia's Olympic Dam remained indefinitely idle on Friday and production at some of the country's major steelworks halted, after a massive power outage, disrupting supply lines of raw materials to Asia. The power outage across South Australia state on Wednesday, caused by severe storms, has...

  • *Manila has already halted 10 mines, 20 more at risk. MANILA, Sept 30- The Philippines said on Friday it may not halt operations at all 20 mines facing suspension for environmental violations and will give them time to address problems-- a softening of a tough stance that has seen 10 mines shut and a spike in nickel prices. The Philippines, the world's top supplier of...

  • MANILA, Sept 30- The Philippine government may not freeze all 20 mines facing suspension for environmental infractions and they will be given time to address any lapses, the minister in charge of mining said on Friday. "Yes if they are able to fix whatever" needs to be fixed, Environment and Natural Resources Secretary Regina Lopez told Reuters when asked if it is...

  • NEW YORK, Sept 30- On a routine check of a surface coal mining facility in rural Alabama early this month, inspector Randall Aldridge first smelled gasoline. Then he saw dead plants and animals along a man-made pond that helps the region manage heavy rain. Aldridge happened upon a leak on the main fuel artery to the U.S. East Coast known as the Colonial Pipeline, in...

  • MANILA, Sept 30- Lead and tin steadied near multi-month highs on Friday and were heading for their biggest quarterly gains in at least three years, bolstered by tighter supply and falling inventories. Three-month lead on the London Metal Exchange was down 0.2 percent at $2,059 a tonne by 0242 GMT, after peaking at $2,070.50 on Thursday, its strongest since May...

  • MANILA, Sept 30- Lead steadied near multi-month highs on Friday and, along with tin, was heading for its biggest quarterly gain in at least three years, bolstered by tighter supply and falling inventories. *Three-month lead on the London Metal Exchange was little changed at $2,061.50 a tonne by 0053 GMT, after peaking at $2,070.50 on Thursday, its strongest since...

  • The aluminum producer had said it would change its name to Arconic Inc and focus on engineering products for aerospace and automotive businesses, and spin off its smelting and refining divisions into a new company, Alcoa Corp.. If the reverse stock split is approved, shareholders will receive one share of Alcoa Corp common stock for every three shares of Alcoa...

  • LONDON, Sept 29- Lead climbed on Thursday to its highest since May last year, supported by steadier copper prices and worries over mine supply, while nickel retreated from a seven-week high. The metal hit $2,041.50 earlier, its strongest since May 2015, extending gains from the previous session, when rising oil prices also lent support. On the Shanghai Futures...

  • *Shanghai lead at strongest since March 2013. LONDON, Sept 29- Lead climbed to its highest since May last year on Thursday, supported by steadier copper prices and worries over mine supply contraction, while nickel retreated from a seven-week high as inventories remain ample. On the Shanghai Futures Exchange, the most-traded lead contract for November delivery...

  • HOUSTON, Sept 29- It was a moment U.S. shale oil producers have been waiting on for more than two years: OPEC nations finally agreed to cut production on Wednesday in a move that lifted low prices ravaging their budgets. U.S. benchmark crude rose more than 5 percent to $47 a barrel on the news, pending final details about the cut, which won't be known until after another...

  • SYDNEY, Sept 29- An unprecedented power outage across South Australia state has stopped production at major miners BHP Billiton and OZ Minerals and left one steelmaker struggling to prevent molten steel from hardening and damaging its factory. Prime Minister Malcolm Turnbull said it was a "wake-up call" to ensure energy security. "Let's focus now and take this...

  • *Shanghai lead surges to highest since 2013. MANILA, Sept 29- London lead futures climbed to the highest since May last year on Thursday amid worries over tighter supply in top market China and elsewhere, while nickel slipped below seven-week highs with supply risks from top ore exporter Philippines seen limited. The supply of lead concentrate in China is "very...

  • HOUSTON, Sept 29- It was a moment U.S. shale oil producers have been waiting on for more than two years: OPEC nations finally agreed to cut production on Wednesday in a move that lifted low prices ravaging their budgets. U.S. benchmark crude rose more than 5 percent to $47 a barrel on the news, pending final details about the cut, which won't be known until after another...

  • *Shanghai lead surges to highest since 2013. MANILA, Sept 29- London lead futures climbed to the highest since May last year on Thursday amid worries over tighter supply in top market China and elsewhere, while nickel held near seven-week highs on similar supply risks from top ore exporter Philippines. The supply of lead concentrate in China is "very tight and the...

  • *BHP shuts Olympic Dam mine after power outage. SYDNEY, Sept 29- BHP Billiton said a massive blackout in South Australia has forced it to suspend production at its Olympic Dam copper, gold and uranium mine to divert back-up power to maintain essential operations at the remote site. "Following the loss of power in South Australia, Olympic Dam was able to safely shut...

  • SYDNEY, Sept 29- Power was restored to the state of South Australia on Wednesday after storms a day earlier caused an unprecedented statewide blackout which disrupted operations at mining majors like BHP Billiton's, closed ports and halted public transport. Coal-fired power plants dominate the country's power sector resulting in Australia being one of the...

  • MANILA, Sept 29- London lead futures rose as much as 1 percent on Thursday to the highest since May last year amid expectations for brisk demand, while nickel held near seven-week highs on supply risks from top ore exporter Philippines. On the Shanghai Futures Exchange, the most-traded lead for November delivery rose 2.2 percent to 15,005 yuan a tonne.

  • SAO PAULO, Sept 28- Brazilian steelmaker Cia Siderúrgica Nacional SA said on Wednesday it had no definitive deal to sell part of its stake in Congonhas Minerios SA, the country's No. 2 iron ore producer, following a report that it was considering a such sale. CSN, as the company is known, was responding in a filing to securities regulator CVM, which questioned the...

  • LONDON, Sept 28- Tin hit its highest price since January last year on Wednesday after inventories dwindled while nickel struggled to advance as investors assessed the likely impact of mine suspensions in top ore exporter the Philippines. Falling shipments from leading tin exporter Indonesia and question marks over whether a surge in mining in Myanmar can be...