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Materials and Metals Metals and Mining

  • TORONTO, Jan 23- Canada's main stock index fell on Monday as energy companies retreated along with lower oil prices, while mining shares bucked a broadly weaker trend on higher metal prices. At 10:21 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was down 49.07 points, or 0.32 percent, at 15,498.81. Teck Resources Ltd advanced 2.2 percent to C...

  • CAIRO, Jan 23- Centamin Plc, which runs Egypt's only commercial gold mine, said it would not bid in the country's new gold exploration tender because the terms are not commercially viable. Egypt, which is hoping that gold production can be a future source of growth for its struggling economy, began accepting bids last week for five concessions in its first tender...

  • LONDON, Jan 23- The number of rigs drilling for oil and gas in the United States has recorded the largest one-week increase for over five years, confirming a rapid upturn is now underway. But there is no denying a rapid and sustained upturn is now underway which could pose challenges for the Organization of the Petroleum Exporting Countries and for shale drillers...

  • CAIRO, Jan 23- Centamin Plc, which runs Egypt's only commercial gold mine, said it would not bid in the country's new gold exploration tender because the terms are not commercially viable. Egypt, which is hoping that gold production can be a future source of growth for its struggling economy, began accepting bids last week for five concessions in its first tender...

  • *Japan asks for talks with India on steel duties, import price. TOKYO, Jan 23- Japan is threatening to take India to the WTO over restrictions that nearly halved its steel exports to the South Asian nation over the past year, a step that could trigger more trade spats as global tensions over steel and other commodities run high. India imposed duties of up to 20 percent...

  • Jan 20- U.S. energy companies this week added the most oil rigs in nearly four years, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut supplies that has boosted prices over $50 a barrel since early December. Almost two-thirds of the rigs added since May were in the Permian basin, the nation's biggest shale oil formation located...

  • *Coming up: Trump inauguration at 1700 GMT. LONDON, Jan 20- Gold prices dipped on Friday as investors expect U.S. "On the whole, we'd expect an appropriately presidential tone to be struck and that the dollar will gain and that bullion will once again be under pressure along with the rest of the precious metals complex," said Jonathan Butler, commodities analyst at...

  • *Coming up: Trump inauguration at 1700 GMT. LONDON, Jan 20- Gold prices dipped on Friday as investors expect U.S. "On the whole we'd expect an appropriately presidential tone to be struck and that the dollar will gain and that bullion will once again be under pressure along with the rest of the precious metals complex," said Jonathan Butler, commodities analyst at...

  • *Japan asks for talks with India on steel duties, import price. TOKYO, Jan 20- Japan is threatening to take India to the WTO over restrictions that nearly halved its steel exports to the South Asian nation over the past year, a step that could trigger more trade spats as global tensions over steel and other commodities run high. India imposed duties of up to 20 percent...

  • LONDON, Jan 20- Last year it was the strength of demand that caught the copper market by surprise. Everyone had braced themselves for an expected hard metallic landing in China, the driver of global copper usage. China itself, it seems, was not quite ready for the promised shift from the old model of fixed asset investment to what was touted as the "new normal" of slower,...

  • *Freeport wants legal guarantees over new rules. But new regulations announced last week mean that Freeport and some other miners could be allowed to keep exporting ore if they meet conditions including shifting from their current' contracts of work' to so-called' special mining permits', a move that could leave them liable to paying more in taxes.

  • *Freeport wants legal guarantees over new rules. But new regulations announced last week mean that Freeport and some other miners could be allowed to keep exporting ore if they meet conditions including shifting from their current' contracts of work' to so-called' special mining permits', a move that could leave them liable to paying more in taxes.

  • BEIJING, Jan 20- China's December coal output rose 1 percent from November to hit its highest level in a year, as miners ramped up output to meet government orders amid increased demand from utilities during the cold winter months, data showed on Friday. Notching up a third straight monthly increase, miners produced 311 million tonnes of coal, the National Bureau...

  • BEIJING, Jan 20- China's December coal output rose 1 percent from November to hit its highest level in a year, as miners cranked out more product to meet government orders amid increased demand from utilities during the cold winter months, data showed on Friday. Notching up a third straight monthly increase, miners produced 311 million tonnes of coal, the National...

  • SANTIAGO, Jan 19- Chilean copper miner Antofagasta said on Thursday it would sell its 40 percent stake in the Alto Maipo hydroelectric power project to partner AES Gener, exiting the project entirely. London- listed Antofagasta, controlled by Chile's wealthy Luksic family, signed up to Alto Maipo in 2013, seeking to secure power for its Los Pelambres mine.

  • LONDON, Jan 19- Two groups of Church of England advisers have cautiously endorsed fracking for shale gas in the United Kingdom provided it does not conflict with climate change policy and robust regulations are put in place. "The government's public commitment to reducing the UK's carbon emissions... provides a context which should ensure that shale gas is not...

  • ST. LOUIS, Jan 19- Peabody Energy Corp, the world's largest private-sector coal producer, is squaring off in court with shareholders who claim their stock should not be wiped out in the company's $8 billion Chapter 11 bankruptcy, given a rise in prices for the fuel. Shareholders led by hedge fund Mangrove Partners hope to prove at a hearing in St. Louis on Thursday...

  • LONDON, Jan 19- British company Cornish Lithium said on Thursday it had reached a mineral rights agreement with Canada's Strongbow Exploration to explore for lithium in Cornwall, southwest England, stoking hopes for a British mining revival. Cornwall historically was a mining hub for metals such as tin and copper and the British government is keen to...

  • *Data shows China exceeded targets for reducing 2016 output. BEIJING/ SHANGHAI, Jan 19- The new year has ushered in a new round of capacity cuts as China tries to combat excess in its bloated steel and coal sectors, but the moves are a drop in the ocean in the nation's long struggle to make its heavy industry more efficient. For years, Beijing has been seeking to cut the...

  • *South Africa has world's deepest mines. RANDFONTEIN, South Africa, Jan 19- The number of miners killed in South Africa's mines fell in 2016 to a new record low of 73 from 77 in 2015 thanks to a government drive to improve practices, Mineral Resources Minister Mosebenzi Zwane said on Thursday. Unions in South Africa, the world's top platinum producer, say the death...