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Materials and Metals Metals and Mining

  • 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.

  • MELBOURNE, Feb 13- London copper extended gains to hit its highest in 20 months in heavy trade on Monday, driven up by supply worries after shipments were shut off from the world's two biggest copper mines. "The supply shocks caused by union strikes and regulatory uncertainties in the world leading copper mines, coupled with stronger than expected China's...

  • MELBOURNE, Feb 13- London copper extended gains to hit its highest in 20 months on Monday, driven up as supply worries swirled with shipments shut off from the world's two biggest copper mines. *Three-month copper on the London Metal Exchange had rallied 1.4 percent to $6,172 a tonne by 0135 GMT. *Shanghai Futures Exchange copper surged 5.6 percent to 50,190 yuan a...

  • JAKARTA/ TORONTO, Feb 10- Freeport-McMoRan Inc said on Friday that an export ban remains in place at its copper mine in Indonesia, the world's second-biggest, because it has not yet reached agreement with the government on a new mining permit. The government banned copper concentrate exports Jan. 12 to try and boost Indonesia's smelter industry.

  • JAKARTA/ TORONTO, Feb 10- Freeport-McMoRan Inc said on Friday an export ban remains in place on its copper mine in Indonesia, the world's second-biggest, because it has not yet reached agreement with the government on a new mining permit. The southeast Asian country banned copper concentrate exports Jan. 12 to try and boost the local smelter industry.

  • *Trafigura takes 15.5 pct stake, part of 250 mln euro deal. HELSINKI, Feb 10- Commodities trader Trafigura said it will take a 15.5 percent stake in Finland's Terrafame nickel and zinc mine as part of a 250 million euro deal, which will help the mine ramp up production. The mine in northern Finland has been under government control since 2015 following years of losses...

  • TORONTO, Feb 10- Freeport-McMoRan Inc, the world's biggest publicly-listed copper miner, said on Friday that it has not reached an agreement with Indonesia on a new permit for its Grasberg mine and copper concentrate exports remain restricted.

  • SAO PAULO, Feb 10- Latin American currencies strengthened on Friday as stronger-than-expected Chinese economic figures boosted demand for emerging market assets. The figures helped lift prices of commodities, pulling along currencies such as iron-ore exporter Brazil's real. Brazil's benchmark Bovespa stock index rose 1 percent.

  • *China imports 380,000 T copper in Jan, down 22 pct vs Dec. LONDON, Feb 10- Copper prices surged to their highest in 20 months on Friday after BHP Billiton declared force majeure due to a strike at the world's biggest copper mine in Chile. President Trump calmed international tensions by affirming the "one- China" policy and promised big tax cuts.

  • JAKARTA, Feb 10- Indonesia has issued a new mining permit for the local unit of Freeport McMoRan Inc, government officials said on Friday, signaling the possible end to a month-long suspension of exports from the world's second-biggest copper mine. Indonesia halted Freeport's exports of copper concentrate on Jan. 12, a suspension Freeport said would reduce...

  • *China imports 380,000 T copper in Jan, down 22 pct vs Dec. Trade data from China, the world's biggest metals consumer, also provided support, but copper pulled back from highs after Indonesia issued new mining permits to Freeport McMoRan Inc, opening the way for a resumption of exports. "Trump seems to have come round to the one- China view and he wants to have a good...

  • *Rusal considers London listing- sources. MOSCOW, Feb 9- Onexim Group, which manages the assets of Russian tycoon Mikhail Prokhorov, is considering selling some of its 17 percent stake in Russian aluminium giant Rusal, two banking sources and two industry sources told Reuters on Thursday. Reports of a possible share sale came on the same day two sources close to...

  • *Solid demand from China, SEAsia underpinning market. SINGAPORE, Feb 10- Many a swan song has been sung for thermal coal markets as renewable power generation and a push towards using more natural gas have gained traction. "We are pleased to see the improvement in thermal coal market dynamics on the back of supply cuts in China and sustained demand," said Febriati...

  • BEIJING, Feb 10- China's red-hot commodities buying continued at a near record pace last month, defying the seasonal holiday slowdown, as utilities, steel mills and oil refiners sought foreign coal, iron ore and crude to replenish lower domestic supplies. So that means they can afford to pay for more iron ore, "said Lachlan Shaw, UBS analyst in Melbourne.

  • BEIJING, Feb 10- China's iron ore imports rose 12 percent in January from a year earlier to the second highest on record, official data showed on Friday, as steel mills replenished stocks and seaborne supply continued to displace higher-cost production at home. China's vow last month to shut low-grade steel producers which use scrap metal by the end of June...

  • BEIJING, Feb 10- China's iron ore imports rose 12 percent in January from a year earlier to the second highest on record, official data showed on Friday, as steel mills replenished stocks and seaborne supply continued to displace higher-cost production at home. China's vow last month to shut low-grade steel producers which use scrap metal by the end of June...

  • LONDON, Feb 9- The copper market is facing the imminent prospect of the simultaneous closure of the world's two largest copper mines. The potential for lost production from one or both may be partly priced into the market, which is currently trading around $5,870 per tonne in London. Fund money has been steadily accumulating since copper's big upside move from...

  • *Lopez left Philippines at 18 to become a yoga missionary. MANILA, Feb 10- Mining industry chiefs had just assailed her order to shut down more than half of the Philippines' mines, and Regina Lopez was in a combative mood: but, to keep her cool before an interview, she slipped into a side room and meditated for a few minutes. There is a spiritual side to Lopez, the daughter of...

  • Workers gather during a ceremony at Escondida copper mine near Antofagasta, Chile, April 7, 2016.

    Workers at BHP Billiton's Escondida copper mine in Chile, the world's largest, walked off the job on Thursday.