×

Materials and Metals Metals and Mining

  • TORONTO, March 7- Bankers and stock markets are signaling an upcoming wave of mergers and acquisitions among small and mid-sized miners, but financiers worry that companies have not learned from costly mistakes made in the last commodity boom. "They're not going to sit still," said TD Securities deputy chair of investment banking, Rick McCreary, at a Toronto...

  • *Mongolia regarded as top copper exploration ground. LONDON, March 7- Canadian miner Kincora Copper plans over coming months to start exploration drilling in Mongolia, its CEO told Reuters, calling the area "one of the last frontiers" for top quality copper assets. Kincora's CEO Sam Spring compared Mongolia to Chile, the world's largest copper producer, in the 1970...

  • TORONTO, March 7- Canada's main stock index was little changed in Tuesday morning trading as gains for some heavyweight financial shares partly offset weakness in commodity prices that weighed on the country's substantial mining and energy sectors. At 10:22 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was down 11.87 points, or 0.08 percent,...

  • JOHANNESBURG, March 7- South African stocks edged lower on Tuesday, led by gold mining shares as the price of the metal slipped to its weakest level in four weeks, while the rand gained, shrugging off a fourth quarter contraction in gross domestic product. Rival AngloGold followed with 2.60 percent decline to 131.57 rand. Platinum prices also took a hit, falling...

  • LONDON, March 7- Copper fell to its lowest in a month on Tuesday on a surge in warehouse stocks and zinc hit a seven-week low as investors liquidated positions in both metals on concerns that markets had decent supplies despite mine strikes and shutdowns. On Friday a weekly 23,974- tonne build in Shanghai Futures Exchange stocks took total inventories to just...

  • *Russia, Iraq say too early to discuss extending output cut. LONDON, March 7- Oil prices firmed on Tuesday but stayed in a tight range, with investors seeking a clearer direction from inventory data and comments from oil officials as rising U.S. shale output offset OPEC production cuts. Capping any upsurge has been an increase in U.S. shale oil drilling after WTI rose...

  • LONDON, March 7- Copper and zinc prices hit multi-week lows on Tuesday as investors liquidated long positions on concerns that markets had decent supplies despite strikes and shutdowns after big inflows of copper inventories. "These stock increases are spooking the market but maybe they're reading too much into it, thinking it reflects slowing demand in...

  • MANILA, March 7- Philippine President Rodrigo Duterte said on Tuesday he hopes there will be a "happy compromise" between the mining industry and protecting the environment, throwing support once more to an embattled minister who shut half of the country's mines. Environment and Natural Resources Secretary Regina Lopez will appear before Congress for her...

  • *India says requirement for local steel will be WTO compliant. *India fears reliance on Chinese imports- steel ministry paper. NEW DELHI, March 7- India may soon mandate the use of local steel in government infrastructure projects worth billions of dollars, sources said, pitching it as a WTO-compliant protectionist measure aimed at further cutting cheap imports,...

  • MELBOURNE, March 7- London copper edged up on Tuesday, but was still near one-month lows struck after heavy inflows into London Metal Exchange warehouses doused supply concerns from disruptions at major mines. LME copper stocks surged by 38,825 tonnes across mostly Asian warehouses, data showed on Monday, following a bumper build in weekly Shanghai Futures...

  • MELBOURNE, March 7- London copper edged up on Tuesday, but was not far off one-month lows struck after heavy inflows into London Metal Exchange warehouses doused supply concerns from disruptions at major mines. *Three-month copper on the London Metal Exchange traded up 0.1 percent at $5,861 a tonne by 0104 GMT, after 1 percent losses in the previous session when...

  • Concerns over rising U.S. shale oil output have been offsetting the impact of production cuts agreed by the Organisation of the Petroleum Exporting Countries and some non- OPEC members to curb a global crude oversupply. Russia and Iraq said on Monday it was too early to discuss if the pact by OPEC and non- OPEC members should be extended beyond May.

  • Under a deal announced on Monday, Peabody said it had arranged for $1.26 billion in third-party bonds and $14.5 million in a state bond pool in Indiana, one of the states where it held self-bonds, to fully satisfy its financing requirements. It's also another example of how credit markets and banks seem to be more willing to open up their books to coal companies, "...

  • TORONTO, March 6- Canada's benchmark stock index edged up on Monday to its highest close in 11 days as financial and energy shares climbed, while mining stocks weighed as lower Chinese economic growth targets contributed to a softening in prices for metals. China, which is copper's biggest consumer, cut its growth target this year as the world's second-largest...

  • TORONTO, March 6- Canada's Cameco Corp, the world's second-biggest uranium producer, is exploring the sale of its U.S. production facilities, its chief executive said on Monday, as a six-year industry slump drags on. Cameco, which has been cutting costs and curbing production, is in the early stages of evaluating the sale of its mines in Wyoming and Nebraska, but also...

  • TORONTO, March 6- Silver Wheaton would consider changing its financing deal with Primero Mining on the troubled San Dimas mine in Mexico if that would improve the "health of the asset," the mining financier's chief executive said on Monday. Silver Wheaton, a Vancouver- based company that provides miners with upfront payments, or "streams," in exchange for future...

  • HOUSTON, March 6- Norwegian oil producer Statoil ASA expects its U.S. shale operations to be profitable within two years at crude prices of $50 per barrel, an improvement helped by simplifying operations, technological improvements and cost cuts. "Our business clearly makes sense in a $50 environment," Reitan said Monday on the sidelines of the CERAWeek...

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

    Goldman says Alcoa's new investments in 18 projects could yield $300 million of additional EBITDA per year.

  • LONDON, March 6- Copper prices fell to a more than one-week low on Monday on concerns the metal had extended too much but supply disruptions at the world's two biggest copper mines provided some support. Three-month copper on the London Metal Exchange closed 1 percent lower at $5,858 tonne, its lowest since Feb. 24. "The super enthusiastic reception to Donald Trump...

  • LONDON, March 6- Copper prices fell to a more than one-week low on Monday on concerns the metal had extended too much but supply disruptions at the world's two biggest copper mines provided some support. Three-month copper on the London Metal Exchange closed 1 percent lower at $5,858 tonne, its lowest since Feb. 24. "The super enthusiastic reception to Donald Trump...