Materials and Metals Metals and Mining

  • *Tighter aluminum supply in China amid slow output from restarts. MANILA, Aug 19- London aluminum futures held near their strongest level in 13 months on Friday, propped up by firm demand and tighter supply in top market China. Aluminum production among restarted aluminum smelters in China following production curbs last year has been slow, causing supply to...

  • MANILA, Aug 19- London aluminium futures held near their strongest level in 13 months on Friday on worries over tighter supply, while copper was headed for its first weekly gain in five. *Three-month aluminium on the London Metal Exchange was little changed at $1,681 a tonne by 0055 GMT, after hitting on Thursday its highest since July last year at $1,709 a tonne.

  • LONDON, Aug 18- Copper is underperforming every other major base metal so far this year. The London Metal Exchange three-month price is this morning trading around $4,840 per tonne, translating to a year-to-date gain of just under five percent. It's coming from South America, but not Chile, the country most synonymous with copper production, but rather its...

  • MELBOURNE, Aug 18- China's huge zinc smelting industry has slashed its fees for turning ore concentrates into refined metal by 20 percent as competition for dwindling global mine output heats up, industry sources said this week. Global commodities giant Glencore and Belgium's Nyrstar also slashed mine output when zinc prices slumped to a 6-1/ 2- year-low in...

  • *China copper output +9.6 percent y/y at 722,000 T. *China seeing fewer mine supply disruptions- MS. MELBOURNE, Aug 18- London copper climbed on Thursday away from near one-month lows as the dollar dropped after minutes from the last U.S.

  • *Strategy to bypass China pays off. SYDNEY, Aug 18- Australia's Whitehaven Coal Ltd returned to the black and beat profit forecasts on Thursday, buoyed in part by a strategy that sidesteps a reliance on China for its high-quality coal. Unlike larger rivals such as Peabody Energy, Glencore and Anglo American, which are curtailing production or getting out of coal...

  • SINGAPORE, Aug 18- Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities. "Reasons for the increase in prices include mine closures in Indonesia, United States and Australia and policy change by Chinese authorities,"...

  • *China's steel sector debt estimated at $500 billion. LONDON, Aug 18- Debt in the world's top 30 steel companies totals a record $150 billion, international accountancy firm EY said on Thursday, adding governments' action to support the sector would work only if matched with more radical industry restructuring. The debt of the top 30 companies is dwarfed by...

  • Aug 17- Bankrupt coal company Peabody Energy won U.S. court approval on Wednesday for agreements with three states to partially cover $1.14 billion in potential environmental liabilities and for a bonus plan for its six top executives. Under the agreements, Wyoming can receive $127 million in cash if Peabody walks away from its mine cleanup obligations in the...

  • *200- day moving average at $4,726 could be key for copper. *China demand growth fears persist. Earlier this week it fell to a one-month low of $4,750.50 after weak economic data raised doubts about the strength of demand in China, which accounts for nearly half of global consumption estimated at 22 million tonnes this year.

  • SINGAPORE, Aug 17- Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities. Global mining majors like Glencore and Anglo American, but also regional Asian players like Thailand's Banpu, are reaping the benefits.

  • Hong Kong-listed MMG Ltd. is turning its focus to copper production after closing its biggest zinc mine in early this year.

  • MELBOURNE, Aug 17- London nickel climbed on Wednesday, rebounding from three-week lows reached in the previous session following news that Indonesia may seek to relax its ore export laws, as metals also found support from a softer dollar. Prices have rallied 20 percent since the start of June on fears that the Philippines would clamp down on exports to China, the...

  • CARACAS, Aug 16- President Nicolas Maduro said on Tuesday that Venezuela had struck $4.5 billion in mining deals with foreign and domestic companies, part of plan to lift the OPEC nation's economy out of a deep recession causing food shortages and social unrest. The socialist leader, whose popularity hit a nine-month low in a survey published this week, said he...

  • MMG Results

    MMG CEO Andrew Michelmore talks about the miners' transformation towards becoming a major copper producer with its Las Bambas project.

  • BHP Results

    Intelligent Investor's Gaurav Sodhi says BHP Billiton's underlying results were strong, while the losses came from a misallocation of capital.

  • CARACAS, Aug 16- President Nicolas Maduro said on Tuesday that Venezuela had signed $4.5 billion in mining deals for investment in the South American country's southern mineral belt, but did not say who the deals were with or for what projects.

  • BHP Billiton

    BHP is off to a good start by cutting dividends and targeting $1.8 billion of productivity gains in 2016, says Patersons Securities's Rob Brierley.

  • NEW YORK, Aug 16- A Gabonese man who consulted for a joint venture involving a U.S. hedge fund was arrested on Tuesday on charges that he participated in a scheme to bribe officials in Africa to obtain mineral concessions. Samuel Mebiame, who authorities say worked as a "fixer" for the joint venture and one of its mining companies, was charged in a criminal complaint...

  • CHICAGO, Aug 16- A leading U.S. coal regulator announced plans on Tuesday to toughen what it called "out-of-date" rules for guaranteeing mine cleanups. The Office of Surface Mining and Reclamation Enforcement said it would start working with U.S. state regulators to modify rules on self-bonding, a decades-old program that allowed healthy coal companies to post...