GO
Loading...

Enter multiple symbols separated by commas

Materials and Metals Metals and Mining

More

  • METALS-London copper prices drift on Lunar New Year lull Wednesday, 18 Feb 2015 | 8:43 PM ET

    MELBOURNE, Feb 19- London copper edged lower on Thursday, paring gains from a short-covering burst the session before, with trade subdued as many Asian nations celebrate Lunar New Year. Copper is expected to remain stuck in the $5,300- 5,800 range in place for the past month until Chinese buying activity ramps up in mid-March. *Other markets taking some holiday...

  • Feb 18- Barrick Gold Corp said on Wednesday it will sell its Porgera mine in Papua New Guinea and its Cowal mine in Australia to help reduce net debt by at least $3 billion by year-end, giving investors a long-awaited glimpse into its strategy. Barrick, the world's biggest gold producer, also said it was reducing the size of its Toronto head office by close to half...

  • Feb 18- Barrick Gold Corp said on Wednesday it plans to reduce its net debt by $3 billion by the end of the year through moves that will include selling its Porgera mine in Papua New Guinea and its Cowal mine in Australia. The Toronto- based company reported a net loss in the fourth quarter as it booked $2.8 billion in after-tax impairment charges related mostly to...

  • Feb 18- Barrick Gold Corp on Wednesday reported a net loss in the fourth quarter as it booked $2.8 billion in after-tax impairment charges related mostly to its Lumwana mine in Zambia and its Cerro Casale project in Chile.

  • *Markets eye outcome of Greece talks with creditors. *Platinum pares losses after sliding to 5-1/ 2 year low. NEW YORK/ LONDON, Feb 18- Gold rose on Wednesday, rebounding above a six-week low after minutes from the Federal Reserve's latest meeting showed policymakers were concerned about raising interest rates too soon.

  • RIO DE JANEIRO, Feb 18- Brazilian steelmaker Usiminas posted a net loss of 117 million reais in the fourth quarter due to low steel demand from a stalling local economy and falling iron ore prices, the company said on Wednesday after delaying its results for several days. Shares of Usinas Siderurgicas de Minas Gerais SA, as the company is formally known, were up 4.4...

  • MOSCOW, Feb 18- Indebted Russian coal and steel producer Mechel has sold its U.S.-based Bluestone coal business back to its original owner, the James Justice family, in an attempt to free up cash to service its debt, Mechel said on Wednesday. Six years ago, Mechel bought the business from the Justice family from West Virginia for $436 million in cash plus preferred...

  • Zhang Guangning, chairman of the China Iron& Steel Association, started it, when he told the Association's annual conference in January that " China's steel sector has already entered a period of peaking and flattening out. Because China, the engine of global steel production and consumption, is not supposed to have reached the stage of "peaking and flattening" yet.

  • RIO DE JANEIRO, Feb 18- Brazilian steelmaker Usiminas said on Wednesday it posted a net loss of 117 million reais in the fourth quarter due to low steel demand from a stalling local economy and falling iron ore prices. Analysts had forecast a quarterly net loss at Usinas Siderurgicas de Minas Gerais SA, as the company is formally known, of 118.81 million reais,...

  • METALS-Copper rebounds as Chinese sellers go on holiday Wednesday, 18 Feb 2015 | 10:20 AM ET

    LONDON, Feb 18- Copper rebounded on Wednesday after hefty falls in the previous session as some bulls took advantage of Chinese investors being absent due to the week-long Lunar New Year holiday. Copper prices have recovered around 8 percent since hitting the 5-1/ 2 year low in January, but the metal used in power and construction has still fallen some 9 percent so...

  • MOSCOW, Feb 18- Russian steelmaker Severstal reported its best core earnings margin in six years in the last quarter of 2014, helped by a weakened rouble which lifted exports and cut its costs, the company said on Wednesday. Severstal is the first Russian steelmaker to report financials for the final quarter of last year, when the rouble lost 30 percent against...

  • LONDON, Feb 18- Copper inched up on Wednesday on bargain-hunting following hefty falls in the previous session, though thin trading exaggerated the price move as consumers in China were absent due to the week-long Lunar New Year holiday. Copper prices have recovered around 6 percent since hitting a 5-1/ 2 year low in January, but the metal used in power and...

  • MOSCOW, Feb 18- Severstal, one of Russia's largest steel producers, said on Wednesday its fourth-quarter net loss had widened to $795 million from a loss of $45 million in the previous quarter due to non-cash items. Without the non-cash items- a foreign exchange loss and an impairment charge- the company would have posted a net profit of $534 million in the fourth...

  • MOSCOW, Feb 18- Severstal, one of Russia's largest steel producers, said on Wednesday its fourth-quarter net loss had widened to $795 million from a loss of $45 million in the previous quarter due to non-cash items.

  • BOGOTA, Feb 17- U.S.-based Drummond said it expects coal production in Colombia this year to reach about 30 million tonnes as it increases mining even as prices remain low, its Colombia president Jose Miguel Linares said on Tuesday. Colombia's second biggest coal miner produced about 26.8 million tonnes last year, up 17.5 percent from 2013. The company is...

  • BELGRADE, Feb 17- The sale of Serbia's sole steel mill to U.S. firm Esmark collapsed on Tuesday, in a blow to government efforts to rein in spending under the terms of a loan deal with the International Monetary Fund. The steel mill has been draining $120 million per year in taxpayers' money since Serbia bought it back from U.S. The government committed to cut...

  • Feb 17- Walter Energy Inc forecast a 10 percent drop in sales volume of steel-making coal for 2015 due to sluggish Chinese and European demand, sending its shares down as much as 11 percent. Walter had said in April it would stop production at its Wolverine and Willow Creek mines in British Columbia and temporarily lay off about 700 employees.

  • Feb 17- U.S. coal miner Walter Energy Inc reported a bigger-than-expected quarterly loss as it sold less metallurgical coal after suspending mining operations in Canada. Walter Energy also forecast metallurgical coal sales to fall to 8.5 MMTs to 9 MMTs in 2015 from $9.7 MMTs in 2014, helping to send its shares down more than 8 percent to $1.00 in premarket...

  • Fortescue maintains production target despite profit fall

    Nev Power, CEO of Fortescue Metals, discusses the first-half results and explains why the miner will continue to "drive the maximum amount of tonnes out of its assets."

  • LONDON, Feb 16- U.S. shale producers have responded even more quickly to lower oil prices than analysts expected, which should ensure shale production hits a plateau by May or June and is sustained rather than falling in the second half of the year. The number of rigs drilling for oil in the United States declined by another 84 last week, according to oil field...