Materials and Metals Metals and Mining

More

  • View of destroyed houses after a dam burst in the village of Bento Rodrigues, in Mariana, Minas Gerais state, Brazil on November 6, 2015.

    Samarco, co-owned by BHP and Vale, will pay at least $5B to settle damages caused by a dam spill in November, a source told Reuters.

  • March 1- In a ray of hope for oil bulls, leading U.S. shale producers are at last predicting output declines this year- a long-anticipated turning point for a market reeling from an epic supply surplus. In contrast, the U.S. Energy Information Administration is forecasting an 11 percent drop in national production outside of Alaska and the Gulf of Mexico, where...

  • Glencore takes $5.8B of charges

    The miner and commodity trader has been hit by the slide in raw material prices.

  • Keep away from mining sector: Strategist

    Ramin Nakisa, global macro strategist at UBS, says his company keeps away from mining stocks due to the cost of capital

  • LONDON, March 1- Miner and commodity trader Glencore, seeking to reduce its debt, increased its target for asset sales on Tuesday after posting an expected slide in 2015 profit and $5.8 billion in charges after a rout on commodity markets. Glencore said it was confident it could achieve $4- 5 billion of asset disposals during the rest of 2016, on top of the $1.6...

  • *China factory activity shrinks in Feb, misses forecasts. *China copper premiums drop from as high as $100 last week. MELBOURNE, March 1- London copper pared early losses on Tuesday, as expectations grew that China would have to boost stimulus to shore up its economy after data showed a slowdown in factory activity last month.

  • March 1- In a ray of hope for oil bulls, leading U.S. shale producers are at last predicting output declines this year- a long-anticipated turning point for a market reeling from an epic supply surplus. In contrast, the U.S. Energy Information Administration is forecasting an 11 percent drop in national production outside of Alaska and the Gulf of Mexico, where...

  • March 1- For the first time in two years, U.S. oil companies are beginning to forecast stagnating, or even lower, production. According to a Reuters analysis, based on forecasts from 18 shale oil-oriented firms released over the past several weeks, oil and gas output is expected to fall 300,000 barrels or equivalent per day this year, which equates to a 5.6 percent...

  • An employee walks past coal washing flotation cells, manufactured by Jameson Cells, a unit of Glencore Xstrata

    Miner and commodity trader Glencore reported $5.8 billion of charges mostly due to the slide in commodity prices.

  • MUMBAI, Feb 29- Indian jewellers will go on indefinite strike from Tuesday in protest over the reintroduction after four years of a sales tax on gold jewellery, their trade body said. Finance Minister Arun Jaitley announced an excise duty of 1 percent on gold and diamond jewellery on Monday. We are urging the government to roll back excise duty, " Ketan Shroff, a...

  • In Texas, which is home to the Permian and Eagle Ford basins, output fell by 65,000 bpd to 3.34 million bpd, the biggest monthly decline since May 2015, putting production at the lowest level since October 2014. North Dakota production dropped by 27,000 bpd to 1.14 million bpd, the biggest monthly decline since January 2015 and the lowest output since August 2014.

  • NEW YORK, Feb 29- For leading U.S. shale oil producers, $40 is the new $70. Rival Whiting Petroleum Corp, the biggest producer in North Dakota's Bakken formation, will stop fracking new wells by the end of March, but would "consider completing some of these wells" if oil reached $40 to $45 a barrel, Chairman and CEO Jim Volker told analysts. The threat of a shale rebound is "...

  • MUMBAI, Feb 29- Indian jewelers will go on indefinite strike from Tuesday in protest over the reintroduction after four years of a sales tax on gold jewelry, their trade body said. Finance Minister Arun Jaitley announced an excise duty of 1 percent on gold and diamond jewelry on Monday. We are urging the government to roll back excise duty, " Ketan Shroff, a spokesman...

  • Newmont CEO: Gold demand is still strong

    Newmont Mining CEO, Gary Goldberg, talks about gold's performance this year, how negative rates and oil prices might affect the metals industry with CNBC's Brian Sullivan.

  • SAO PAULO, Feb 29- Most Latin American currencies strengthened on Monday after China announced fresh stimulus measures, but the Chilean peso was steady as weak economic data boosted bets that the central bank could hold rates steady for longer. Chile's industrial output fell in January, hit by weakness in mining activity as copper production slumped 13.8...

  • TORONTO, Feb 29- Canada's main stock index rose on Monday as gains in oil and precious metals prices drove energy and gold mining stocks higher, while Valeant Pharmaceuticals International weighed heavily after delaying its earnings report. The price of oil was higher after strong gains last week on increasing hopes the market has bottomed out and as OPEC...

  • See gold at $1200 in January 2017: Pro

    James Butterfill, executive director, head of research and investment strategy at ETF Securities, says inflation; an inverse relationship with the U.S. dollar and political fears in the U.K. and U.S. have helped support gold.

  • Workers with Raven Drilling line up pipe while drilling for oil in the Bakken shale formation outside Watford City, North Dakota.

    Less than a year ago major shale firms were saying they needed oil above $60 a barrel to produce more; now some say they will settle for far less.

  • *Iran steel output expected to triple to 55 mln tonnes by 2025. SEOUL, Feb 29- South Korean steelmaker POSCO said on Monday that it has signed an initial agreement to help build a $1.6 billion steel mill in Iran, looking to tap rising demand in the Middle Eastern country as other markets falter. The lifting of economic sanctions earlier this year on Iran's disputed...

  • NEW YORK, Feb 29- For leading U.S. shale oil producers, $40 is the new $70. Rival Whiting Petroleum Corp, the biggest producer in North Dakota's Bakken formation, will stop fracking new wells by the end of March, but would "consider completing some of these wells" if oil reached $40 to $45 a barrel, Chairman and CEO Jim Volker told analysts. The threat of a shale rebound is "...