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Materials and Metals Metals and Mining

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  • MELBOURNE, Feb 26- South Korea's state commodity buyer has paid a lower premium for aluminum in its latest tender, signaling a turning point for costs to obtain the metal in Asia as regional supply climbs. It comes just as quarterly talks between producers and consumers kick off in Japan, which typically set the benchmark for the region. South Korea's public...

  • HONG KONG, Feb 26- China is set to launch a link between gold markets in Shanghai and Hong Kong this year following a landmark stock connect scheme, aiming to enhance its pricing power of gold contracts and ultimately challenge its competitors in the West. While China is the world's largest consumer of the precious metal, having surpassed India, daily trading of...

  • *Palladium prices hit 6- week high at $804.10/ oz. LONDON, Feb 25- Gold rose on Wednesday, recovering from the previous day's seven-week lows, after comments from Federal Reserve Chair Janet Yellen suggested the central bank would not be rushed into raising interest rates. The precious metal rose more than 1 percent to a session high earlier in Asia after Chinese...

  • ATHENS, Feb 25- Greece's new left-wing government will not block Canadian firm Eldorado Gold Corp.' s mining operations in the country's north but will review permits for a processing plant at the site, a senior energy ministry official said on Wednesday. "The mining will not stop," the official told reporters, a day after Greece climbed down from pledges to halt...

  • LONDON, Feb 24- Non-Chinese aluminium production was unchanged in January, according to the latest figures from the International Aluminium Institute. A combination of lower London Metal Exchange basis price and softer physical premiums, particularly in Europe, has seen the all-in price slide back to just above $2,100 per tonne from over $2,450 as recently...

  • CALGARY, Alberta, Feb 24- Cash flows from the Canadian oil sands will fall by $23 billion and turn negative in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low crude prices make it less economical to extract tar-like bitumen from the sands. The oil sands of northern Alberta hold the world's third-largest proven crude...

  • CALGARY, Alberta, Feb 24- Oil sands cash flows will fall by $23 billion in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low global petroleum prices make it less economical to extract bitumen from northern Alberta. Canada's oil sands hold the world's third-largest proven crude reserves after Saudi Arabia and Venezuela, but...

  • CALGARY, Alberta, Feb 24- Oil sands cash flows will fall by $21 billion in the next two years, energy consultancy Wood Mackenzie said in a report on Tuesday, as low global petroleum prices make it less economical to extract bitumen from northern Alberta. Canada's oil sands hold the world's third-largest proven crude reserves after Saudi Arabia and Venezuela, but...

  • LONDON, Feb 24- The head of the world's largest mining company BHP Billiton said on Tuesday that the price of its main commodity, iron ore, is likely to fall in the near term under pressure from increasing global supply. "Although we see some loss of production, particularly from expensive Chinese iron ore... we still see a growing surplus of low-cost supply and...

  • LONDON, Feb 24- Non-Chinese aluminum production was unchanged in January, according to the latest figures from the International Aluminum Institute. A combination of lower London Metal Exchange basis price and softer physical premiums, particularly in Europe, has seen the all-in price slide back to just above $2,100 per tonne from over $2,450 as recently as...

  • *Natalka's gold reserves estimate cut by 49 pct. MOSCOW, Feb 24- Polyus Gold, Russia's biggest gold producer, is sticking with its flagship Natalka project despite a drop in its estimated gold reserves, and hopes to prepare an operating plan by mid-2015, it said on Tuesday. "This is a major decrease, although the company previously guided that it's likely to happen,"...

  • JAKARTA, Feb 24- Indonesia's plan to roughly double coal royalties next month is expected to hurt most for smaller and newer firms producing low-quality coal, government and industry officials say, with many struggling as prices have halved since 2011.. "The main impact will be felt by companies low calorie," Coal and Minerals Director General Sukhyar, who goes by...

  • *H1 profit falls to $5.35 bln, above $5.1 bln consensus. MELBOURNE, Feb 24- Global miner BHP Billiton posted a 31 percent drop in half-year profit as prices for all its main products collapsed, but beat market forecasts and flagged further belt tightening to withstand the tough conditions. Amid tough conditions "they're doing better than the market's expecting, so...

  • Atlas Iron: Seeing success in cost cuts Tuesday, 24 Feb 2015 | 12:32 AM ET
    Atlas Iron: Seeing success in cost cuts

    Brinsden Ken, managing director of Atlas Iron, says its cost-cutting program has generated "substantial success" and the Australian miner will do more to lower its operating costs.

  • Why BHP's stock is up despite profit drop Monday, 23 Feb 2015 | 10:23 PM ET
    Why BHP's stock is up despite profit drop

    Gaurav Sodhi, resources analyst at Intelligent Investor, says the rise in BHP Billiton's free cash flow is "extraordinary" and is set to continue amid cost cuts and higher productivity.

  • MELBOURNE, Feb 24- London copper edged lower on Tuesday as traders turned defensive ahead of a speech by Federal Reserve Chair Janet Yellen later in the session, with volumes expected to improve as China returns from a week-long break on Wednesday. *Volumes are expected to pick up when China reopens on Wednesday, although traders in Asia don't expect huge...

  • BHP Billiton half-year profit slides by a third Monday, 23 Feb 2015 | 8:13 PM ET
    Trucks at an iron ore mine

    BHP Billiton posted a 31 percent drop in half-year profit as prices for all its main products collapsed, but beat market forecasts.

  • Despite 31% fall, BHP results still positive: Pro Monday, 23 Feb 2015 | 7:33 PM ET
    Despite 31% fall, BHP results still positive: Pro

    Tim Schroeders, portfolio manager at Pengana Capital, explains why he is reading the 31 percent slump in BHP Billiton's half-year profit positively.

  • *H1 profit falls to $5.35 bln, above $5.1 bln consensus. MELBOURNE, Feb 24- Global miner BHP Billiton posted a 31 percent drop in half-year profit as prices for all its main products collapsed, but beat market forecasts and flagged further belt tightening to withstand the tough conditions. "Quality operations are making a fist of the tough environment, and they're...

  • In 2015, headwinds abound for BHP Billiton Monday, 23 Feb 2015 | 5:08 PM ET
    In 2015, headwinds abound for BHP Billiton

    Sean Fenton, director & portfolio manager at Tribeca Investment Partners, discusses the outlook for the global miner following the announcement of half-year profit results.