Materials and Metals Metals and Mining

  • 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 "...

  • A Chinese resident walks out of her house her house next to a coal fired power plant on November 26, 2015 in Shanxi, China.

    China expects to lay off 1.8 million workers in the coal and steel sectors, an official said on Monday.

  • BEIJING, Feb 29- China expects to lay off 1.8 million workers in the coal and steel sectors as part of its efforts to reduce industrial overcapacity, an official at the human resources and social security ministry said on Monday. Yin Weimin, minister of human resources and social security, said capacity cuts will lead to some layoffs in 2016, but added that he was...

  • MOSCOW, Feb 28- The 26 miners who were trapped in a Russian coal mine above the Arctic circle have died and rescue operations have been halted after a third blast underground killed several rescue workers, emergency services said on Sunday. "The circumstances in the affected part of the mine did not allow anyone to survive," Russia's Emergencies Minister Vladimir...

  • *India's biggest cement maker capacity to rise by a third. NEW DELHI, Feb 28- India's UltraTech Cement Ltd, part of the Aditya Birla conglomerate, said on Sunday it had agreed to buy Jaiprakash Associates Ltd's cement plants for an enterprise value of 165 billion rupees. Other companies interested in Jaiprakash's plants included Irish building materials group...

  • Top trader Najarian buys gold miners

    CNBC "Halftime Report" trader Pete Najarian bought shares of a gold miners ETF on Thursday, after spotting unusual options activity.

  • Graham Kerr, chief executive officer of South32 Ltd. poses for a photograph at the Australian Securities Exchange (ASX) offices in Perth, Australia, on Monday, May 18, 2015.

    Australia's South32 on Thursday reported a first-half loss of $1.7 billion, hurt by big writedowns for its manganese and energy coal businesses.

  • Graham Kerr, CEO of South32, talks to CNBC about its strong balance sheet and potential acquisition deals.

  • Energy market is set for restructuring: CEO

    Glenn August, founder and CEO of Oak Hill Advisors, says there will be substantial debt-for-equity and rescue financing for energy companies.

  • Fortescue CEO

    Nev Power, CEO of Fortescue Metals talks to CNBC about his aim to lower the break-even price of iron ore and reduce costs across the board.