Materials and Metals Metals and Mining

More

  • Vale, the world's biggest nickel producer, will cease smelting and refining in Thompson, Manitoba, once work is complete to allow it to produce and ship nickel concentrate from its mill, said Mark Scott, Vale's director of mining and milling in Thompson. Vale plans to ship nickel from its mine at Voisey's Bay, Newfoundland and Labrador, to a new processing facility...

  • TORONTO, Nov 19- Canadian miner Aura Minerals Inc said on Thursday that it has suspended operations at its San Andres gold mine in Honduras after a small group from local communities entered the site and "forcefully" disrupted operations. The Toronto- based company said that it is considering options to restart the mine and is working with local representatives...

  • JOHANNESBURG, Nov 19- South African coal miner Exxaro Resources has cut its planned capital expenditure for expansion over the next five years by 13 percent as it expects commodity prices to weaken further, it said on Thursday. The 13 percent drop in planned capital spending would include reducing investment in the Waterberg coalfield to 15 billion rand over...

  • *Platinum recovers from near 7- year low. LONDON, Nov 19- Gold rose 1 percent on Thursday, rebounding from near six-year lows as indications from the Federal Reserve that it may move cautiously into the rate hiking cycle weighed on the dollar and prompted investors to cover short positions. Spot gold was up 1 percent at $1,081.10 an ounce at 1507 GMT, while U.S. gold...

  • LONDON, Nov 19- A split among analysts about Glencore's prospects has widened even after the commodity trader and miner took more steps to cut its heavy debt burden, hoping to reverse a dive in its share price. Supporters such as UBS and Citi, likewise, have stuck to their bright outlooks, reiterating their belief that Glencore will successfully restructure...

  • Copper production in Johor, Malaysia

    The slide in copper has fueled fears of a stagnating global economy, but the red metal’s track record in diagnosing economic health looks shaky.

  • *Moment of silence with Greenpeace over Brazil disaster. PERTH, Nov 19- Mining giant BHP Billiton will update the market on its future dividend policy in February, chairman Jac Nasser said on Thursday, at it battles falling prices for everything from iron ore to copper. Speaking at the company's annual shareholder meeting, Nasser and Chief Executive Andrew...

  • *Moment of silence with Greenpeace over Brazil disaster. "Through thick and thin, through good times and bad times, this company has been quite strong," Chairman Jacques Nasser told shareholders at the company's annual meeting in Australia. UBS is forecasting a near 50 percent fall in BHP's net earnings to $3.3 billion in 2015/ 16, about half the $6.49 billion the...

  • *Shfe nickel, zinc, seen as casualty of China steel woes-trader. MELBOURNE, Nov 19- London copper edged up on Thursday but remained near its lowest in more than half a decade, as persistent concerns about ebbing demand from top metals user Chinese eclipsed the impact of a slightly softer dollar. "We are already seeing the start of the next bull market in commodities,"...

  • Top issues on the BHP Biliton AGM agenda

    BHP Biliton shareholders are concerned about issues such as dividends, guidance and the Brazilian dam incident, says James Wilson, resource analyst at Morgans.

  • WASHINGTON, Nov 18- The U.S. government has not set a new date for an oil and natural gas lease auction of federal lands in Utah postponed this week following overwhelming interest from the public, including climate activists, who wanted to attend the event. Officials want to hold the auction as soon as possible but rescheduling the sale is tricky going into the...

  • SYDNEY/ TORONTO, Nov 19- A deadly mud slide at an iron ore mine in Brazil has reignited calls for safer ways to dispose of millions of tonnes of ore waste held back by man-made dams. The Nov. 5 disaster has been termed an "environmental catastrophe" by Brazil after sending waste across two states and liability could fall on Samarco's joint owners Vale and BHP Billiton.

  • *Silver hit 2-1/ 2- month low, platinum at 7- year lows. *Gold prices come off lows after Federal Reserve minutes. NEW YORK/ LONDON, Nov 18- Gold prices inched higher after tapping a nearly six-year low on Wednesday as the market reacted to the minutes of a recent U.S.

  • Copper hitting six year lows

    Guy Wolf, global head of market analytics at Marex Spectron, says the demand for copper has collapsed.

  • NEW YORK, Nov 18- Novelis Inc, the world's largest rolled aluminum producer, opened a new production line in Germany to make parts for the auto industry, the latest push by aluminum fabricators to expand into burgeoning demand from carmakers for the light metal. It said in a statement:. --New 120,000 tonne-per-year automotive aluminum heat treatment line opens on...

  • *Silver hit 2-1/ 2- month low, platinum at 7- year lows. LONDON, Nov 18- Gold fell close to an earlier multi-year low on Wednesday, as the market awaited minutes of a recent Federal Reserve meeting which could reinforce bets of a rate hike next month. Silver tracked gold, dropping close to a 2-1/ 2- month low, down 0.5 percent at $14.07 an ounce, while platinum stood just...

  • LONDON, Nov 18- History may not repeat itself but it certainly does rhyme strongly when it comes to the copper market. January's implosion was exacerbated by liquidity black holes with the Shanghai Futures Exchange contract going limit-down and forcing order flows into the LME market in the wee hours of the London morning. This time the collapse has been more...

  • LONDON, Nov 18- Base metals hit multi-year lows on Wednesday as fears persisted over waning demand in top metals user China and investors awaited the minutes of the U.S. London Metal Exchange zinc hit a fresh six-year trough of $1,518.50 a tonne, and was down 0.3 percent at $1,543 a tonne at 1135 GMT; lead struck its weakest in more than five years at$, 1571 while nickel...

  • ALMATY, Nov 18- Kazakhstan plans to sell stakes of at least 25 percent in 43 large state-owned companies via initial public offerings in 2016-17, the Samruk-Kazyna sovereign wealth fund said on Wednesday. Tau-ken Samruk has a 30 percent stake in Glencore- controlled zinc producer Kazzinc. Two sources close to the government told Reuters this month the...

  • MANILA, Nov 18- A slowing Chinese economy will not curb appetite for gold from the world's second-biggest consumer, the chief executive of Australia's Oceanagold Corp said on Wednesday, and should support prices that have tumbled to near six-year lows. The mid-tier gold miner is looking to lift output by nearly 40 percent in 2017 following a bout of...