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Materials and Metals Metals and Mining

  • NEW YORK, Jan 4- The former chief executive officer of a company linked to troubled hedge fund manager Platinum Partners was convicted of criminal tax fraud on Wednesday, New York's attorney general said in a statement. Gary Mole, who led Glacial Energy Holdings Inc before it went bankrupt in 2014, pleaded guilty to diverting more than $18.5 million in taxable...

  • LUSAKA, Jan 4- Zambian workers have downed tools at a mine and copper processing plant belonging to Konkola Copper Mines, a unit of Vedanta Resources, in a dispute over the pace of wage talks, a union official said on Wednesday. The stoppage at the Konkola mine in Chililabombwe in northern Zambia began after a Dec. 31 target for completing talks on a 2017 pay...

  • *China to spend $115 billion on railroads. Much of the gains came after New York opened and copper broke through key resistance at $5,610 a tonne, traders said. Citi analyst David Wilson said that spending on railways in China would mean higher demand for copper wiring.

  • *China to spend $115 billion on railroads. Citi analyst David Wilson said that spending on railways in China would mean higher demand for copper wiring. Sentiment has been boosted by strong manufacturing data from the United States and China, which accounts for nearly half of global copper consumption estimated at about 22 million tonnes this year.

  • *Nickel mkt focuses on outlook for Indonesia export restrictions. SYDNEY, Jan 4- London copper recouped earlier losses in late Asian trading on Wednesday as the U.S. dollar lost some of its steam. Elsewhere, nickel was initially driven to fresh 3-1/ 2- month lows after big overnight losses in London on expectations Indonesia may ease restrictions on exports of ore...

  • *Nickel mkt focuses on outlook for Indonesia export restrictions. The most-traded copper contract on the Shanghai Futures Exchange dropped 2.6 percent to 44,840 yuan a tonne. Elsewhere, nickel was driven to fresh 3-1/ 2- month lows after big overnight losses in London on expectations Indonesia may ease restrictions on exports of ore soon, filling a gap in...

  • SYDNEY, Jan 4- Copper opened lower on Wednesday on the back of persistent strength in the U.S. dollar. *The most-traded copper contract on the Shanghai Futures Exchange dropped 1.5 percent to 45,320 yuan a tonne. *Poland's KGHM, which is one of the world's biggest copper producers, should not sell its foreign assets.

  • JOHANNESBURG, Jan 3- South African stocks kicked off 2017 in positive territory as a platinum rally spurred producers of the precious metal, while dollar strength knocked the volatile rand into the red. The benchmark Top-40 index gained 0.8 percent on Tuesday, the first day of trade after the long New Year weekend, to reach 44,261.26. Spot platinum was up almost...

  • LONDON, Jan 3- Platinum and palladium jumped by more than 4 percent on Tuesday as investors scrambled for position as the new year got under way and gold steadied after posting its biggest quarterly loss in more than three years. Spot platinum was up 4.6 percent at $940.80 by 1500 GMT, while sister metal palladium rose 4.7 percent to $710.30. "The repositioning in...

  • President-elect Donald Trump on Tuesday named veteran steel industry trade lawyer Robert Lighthizer, a harsh critic of China's trade practices, to be his chief trade negotiator, responsible for better deals aimed at reducing U.S. trade deficits. Lighthizer, who is with the law firm Skadden, Arps, Slate, Meagher and Flom, has argued in public testimony that China...

  • LONDON, Dec 30- Britain's blue-chip FTSE 100 index closed 2016 at a record high level on Friday, with a blistering rally in mining stocks and a sharp fall in sterling after June's shock Brexit vote boosting the market. The FTSE's climb was also due to a strong rally in the mining sub-index, which jumped 101.5 percent in 2016 on stronger metals prices and...

  • *Oman to reduce crude term volume in sign of OPEC cut compliance. LONDON, Dec 30- Oil prices are on track for their biggest annual gain since 2009 after the OPEC grouping and other major producers agreed to cut crude output to reduce a global supply overhang that has depressed prices for two years. The fall in prices due to oversupply, in part thanks to the U.S. shale oil...

  • PARIS, Dec 30- The government of New Caledonia has approved requests from three mining companies to export as much as 2 million tonnes of low-purity nickel ore annually to China as part of efforts to help the industry to recover from a prolonged slump in prices. The decision, dated Dec. 27 and posted on the government's website, marks the second time this year that...

  • *Britain's FTSE among top performers in Europe. The FTSE 100 has gained 14 percent in 2016 to trade just below a record high set in October, making it the best performer among major European stock indexes despite the shock of June's Brexit vote. "The latest GDP figures point to a strong UK economy which has probably accounted for some of the pick-up in equity prices...

  • A Tesla electric car at a charging station.

    Out with the oil and in with electric.

  • *Spot gold hits highest since Dec. 14. Spot gold was up 0.1 percent at $1,159.36 an ounce by 0325 GMT, having earlier hit a more than two-week high of $1,163.14 an ounce. "Gold made robust gains as demand surged during the periods of economic and political uncertainty until the third quarter," said Mihir Kapadia, CEO of London- based Sun Global Investments Ltd. The safe...

  • TORONTO, Dec 29- Canada's main stock index rose on Thursday as stocks rallied broadly in light holiday trading, closing at the highest level since April 2015. The Toronto Stock Exchange's S&P/TSX composite index rose 61.02 points, or 0.4 percent, to 15,422.12. Barrick Gold rose 6.8 percent to C $22.12, Silver Wheaton Corp advanced 9.0 percent to C $27.32, while...

  • WILMINGTON, Del., Dec 29- Peabody Energy Corp said on Thursday the deadline for creditors to join financing deals aimed at bringing the largest U.S. coal miner out of bankruptcy had been extended after large investors sued to slow the process. Last week, Peabody unveiled its plan to eliminate more than $5 billion of debt and raise capital from creditors with a $750...

  • WILMINGTON, Del., Dec 29- Peabody Energy Corp said on Thursday the deadline for creditors to join financing deals aimed at bringing the largest U.S. coal miner out of bankruptcy had been extended after large investors sued to slow the process. Last week, Peabody unveiled its plan to eliminate more than $5 billion of debt and raise capital from creditors with a $750...

  • TORONTO, Dec 29- Canada's main stock index rose on Thursday as stocks rallied broadly in light holiday trading, at one point touching its highest level since April 2015. Barrick Gold rose 4.9 percent to C $21.72, Silver Wheaton Corp advanced 6.3 percent to C $26.64, and Agnico Eagle Mines Ltd climbed 5.3 percent to C $57.81. At 10:27 a.m. ET, the Toronto Stock...