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Materials and Metals Metals and Mining

  • LONDON, Feb 14- Copper prices have surged to 21- month highs above $6,200 a tonne for a gain of more than 40 percent since January 2015 due to worries about supplies after disruptions in top producer Chile, Indonesia and Peru. Forecasts ranged between $4,740 and $5,855. BHP Billiton's Escondida in Chile, the world's largest copper mine, will not be able to meet its...

  • *Freeport hopes to gain new investment guarantees. JAKARTA, Feb 14- Freeport-McMoRan Inc has halted production of concentrate at the world's second-largest copper mine in Indonesia and has begun to send workers home, a spokesman for the company's local unit said on Tuesday. Freeport previously said the suspension of concentrate exports would require the...

  • JAKARTA, Feb 14- Freeport-McMoRan Inc has halted production of copper concentrate in Indonesia and has begun to send home workers at Grasberg, the world's second-largest copper mine, a spokesman for the company's local unit said. Indonesia introduced rules on Jan 12 that restrict copper concentrate exports from the country in an effort to promote the...

  • There's 'no stopping' copper now: Analyst

    Charles Bradford, president of Bradford Research, talks about the reductions in copper supply on the back of strikes at the Escondida mine in Chile.

  • A resurgence in interest for nuclear energy and a sharp reduction in supply is putting a glow on the uranium market as prices surge.

  • *The most-traded copper contract on the Shanghai Futures Exchange rose 0.7 percent to 49,870 yuan a tonne. *Already under fire for widespread environmental damage, Malaysia's once lucrative bauxite mining industry is facing a likely death knell from neighboring Indonesia's move to allow a resumption of exports. *Japan's Mitsubishi Materials Corp aims to...

  • Workers of the Escondida copper mine start an indefinite strike in Antofagasta, Chile, on February 9, 2017.

    A strike that has shut down operations at a northern Chilean copper mine Escondida.

  • NEW YORK, Feb 13- U.S. shale oil production for March is expected to rise by the most in five months to its highest rate since May last year, government data showed on Monday, as energy companies boost drilling on the back of crude prices that are hovering over $50 a barrel. March oil production is forecast to rise by nearly 79,000 barrels per day to 4.87 million bpd,...

  • *Palladium touches highest since Jan. 25. NEW YORK/ LONDON, Feb 13- Gold prices slipped on Monday as the dollar rose and equities climbed, but political and economic uncertainties in the United States and Europe are expected to provide support for now. The spot price was down 0.7 percent at $1,225.71 an ounce by 2:51 p.m. EST, falling further below last week's...

  • LIMA, Feb 13- MMG Ltd has been transporting copper concentrates from its Las Bambas mine in Peru since late on Friday, when residents of a nearby town called off protests that had blocked the road used by the company, a representative of the ombudsman's office said. The flare-up last week threatened to further constrain global supplies of copper as Chile's...

  • LONDON, Feb 13- European shares gained on Monday as mining stocks touched a 2 1/ 2- year high on rising copper prices and mergers and acquisitions continued to drive shares, with takeover offers sending German drugmaker Stada to a record high. It led sectoral gainers in Europe as copper prices hit their highest in 20 months in heavy trade, driven up by supply worries...

  • *BHP says can't meet supply obligations on Chile strike. LONDON, Feb 13- The price of copper on Monday hit its highest level since May 2015, extending the previous session's near 5 percent surge after shipments from the world's two biggest copper mines were disrupted. "Copper has managed to break higher from its recent range with the supply disruptions from two...

  • steelmakers@ SAO PAULO, Feb 13- Latin American stocks rose on Monday as China- listed iron ore futures surged, lifting shares of miners and steelmakers. The most-active iron ore contract on the Dalian Commodity Exchange climbed as much as 5.8 percent to the highest since December 2013 as investors bet on strong demand for building materials.

  • MANILA, Feb 13- A group of miners on Monday opposed the appointment of the Philippine environment minister saying her ordered closure of more than half of the country's mines showed an "undeniable bias" against the sector. Regina Lopez, a former environmental activist appointed by President Rodrigo Duterte last June, is among a few cabinet members who have yet to...

  • *BHP says can't meet supply obligations on Chile strike. LONDON, Feb 13- Copper hit its highest since May 2015 on Monday, extending the previous session's near 5 percent surge after shipments were disrupted from the world's two biggest copper mines. "Copper has managed to break higher from its recent range with the supply disruptions from two major producers," Saxo...

  • MILAN, Feb 13- European shares rose for a fifth consecutive session on Monday with mining stocks touching their highest in 2-1/ 2- years on stronger copper prices and with takeover offers sending German drugmaker Stada to a record high. UK's FTSE was up 0.1 percent. It led sectoral gainers in Europe as copper prices hit their highest in 20 months in heavy trade,...

  • *BHP says can't meet supply obligations on Chile strike. *Vandalism, fire at Chile copper mine over past few days. More than 300 people wearing hoods vandalized property at the world's largest copper mine at the weekend and forced contract workers to stop work during an ongoing strike at BHP Billiton's Escondida in Chile.

  • SHANGHAI, Feb 13- China's main stock indexes rose for their fourth straight day of gains on Monday to a fresh two-month high, as the materials sector underpinned the market on the back of strong commodities. Some good news over the weekend, including a rally in metals prices, supported the market, said Tian Weidong, analyst at Kaiyuan Securities in Xi'an.

  • SHANGHAI, Feb 13- Chinese steel capacity in operation actually rose in 2016 after a high-profile closure program concentrated on shutting idled plants, environment group Greenpeace said on Monday. "We believe that it's above all in China's self-interest to tackle the overcapacity problem, because of the tremendous health and environmental costs as well as...

  • Iron ore prices are defying rationality: Expert

    Gavin Wendt of Minelife says iron ore prices have been surprisingly resilient.