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Materials and Metals Metals and Mining

  • WARSAW, Nov 29- Rescuers were searching on Wednesday for six missing miners after an earth tremor struck a copper mine in southwestern Poland, killing two, the mine's operator KGHM said. Nine people working in the Rudna copper mine have sustained spinal and head injuries and five were still in hospital, KGHM's Chief Executive Radoslaw Domagalski-Labedzki told...

  • BEIJING/ MELBOURE, Nov 30- An exodus of cash from steel to rubber to zinc threatened a blistering months-long rally across global commodity markets on Wednesday, triggered by fresh concerns about liquidity in China, the world's second largest economy. Coking coal futures and construction product steel rebar posted their biggest one-day falls on record, while...

  • JOHANNESBURG, Nov 30- South Africa's Impala Platinum Holdings Ltd and Zimplats' board have approved the development of the $264 million Mupani Mine, which will increase the Zimbabwe unit's mineral reserves, the company said on Wednesday. *Zimplats Chief Executive Alex Mhembere said the mine will ensure that the Zimbabwe unit maintains production of 260,00...

  • Nov 29- Sherritt International Corp cut its full-year production forecast for its joint nickel venture in Cuba following the collapse of a municipal bridge there last week that killed four workers. Sherritt owns 50 percent of the Moa operation with General Nickel Company SA of Cuba. The Toronto- based company said that the timing of more permanent repairs to...

  • RAS AL-KHAIR, Saudi Arabia, Nov 29- Saudi Arabia's King Salman underlined the kingdom's intention to invest heavily in speeding up is diversification away from oil exports with the inauguration on Tuesday of a $35 billion mining and minerals processing complex. King Salman and his top ministers visited the complex at Ras al-Khair on Saudi Arabia's eastern...

  • GABORONE, Nov 29- Botswana's Debswana, the world's biggest diamond producer by sales value, is on track to produce its first diamonds from the expanded Jwaneng mine by next year, a company official said on Tuesday. Known as Cut 8, the $3 billion expansion project aims to prolong the Jwaneng mine's life by a further seven years and produce 100 million carats.

  • DUESSELDORF, Germany, Nov 29- Thyssenkrupp's powerful labor chief said workers would resist shutting down capacity in any merger of the German industrial group's European steel business with that of peer Tata Steel. "I don't see any strengthening through a merger with Tata," Segerath said, adding he would prefer a sale of Thyssenkrupp's steel plant in Brazil.

  • LONDON, Nov 29- Copper fell on Tuesday and lead and zinc slipped from the previous session's multi-year peaks as investors cashed in gains on fears that the post-U.S. election run-up in industrial metals prices had become overstretched. London Metal Exchange copper was down 1.5 percent at $5,790 a tonne by 1050 GMT, having touched its highest since June last...

  • *FTSE 100 down 0.6 pct. *Energy sector under pressure on OPEC meeting doubts. "continued production cut brinkmanship from both OPEC and Russia, skepticism is still rife about whether tomorrow's official OPEC meeting in Vienna will be a success," said Mike van Dulken, head of research at Accendo Markets.

  • LONDON, Nov 29- European shares steadied on Tuesday after finishing lower in the previous session, with banks stronger but miners down on a fall in industrial metals prices. Shares in Antofagasta, BHP Billiton, Rio Tinto and Anglo American fell by 1.7 to 3.4 percent following a 1.2 to 2.1 percent drop in prices of copper, aluminium and nickel. Even after today's...

  • SYDNEY, Nov 29- The U.S. Securities and Exchange Commission is investigating a $3 billion impairment charge booked by miner Rio Tinto in 2013 on the value of a Mozambican coal asset, two sources familiar with the matter said on Tuesday. The shock impairment, less than two years after Rio bought Mozambique- focused Riversdale Mining in 2011, helped trigger the...

  • SYDNEY, Nov 29- The U.S. Securities and Exchange Commission is investigating a $3 billion impairment charge booked by miner Rio Tinto in 2013 on the value of a Mozambican coal asset, two sources familiar with the matter said on Tuesday. The shock impairment, less than two years after Rio bought Mozambique- focused Riversdale Mining in 2011, helped trigger the...

  • *Seeks premium from China mills for 1st time since 2010. That would be a record high and up from a premium of $1.50 for the four-month period through December this year, said one of the sources who works closely with Rio in China. From Chinese mills, Rio initially sought a 15- cent premium, but this week increased it to about $1, said the same source.

  • YANGON, Nov 29- More than 500 companies list among their suppliers Chinese-controlled firms that indirectly buy tin ore from a mine operated by an ethnic armed group in Myanmar, a Reuters examination of the supply chain found. The Man Maw mine is controlled by the United Wa State Army, which the United States placed under sanctions for alleged narcotics...

  • YANGON/ WASHINGTON, Nov 29- From a remote corner of northeastern Myanmar, an insurgent army sells tin ore to suppliers of some of the world's largest consumer companies. More than 500 companies, including leading brands such as smartphone maker Apple, coffee giant Starbucks and luxury jeweler Tiffany& Co, list among their suppliers Chinese-controlled firms...

  • LONDON/ FRANKFURT, Nov 28- Tata Steel and Thyssenkrupp are looking at reducing the size of Britain's largest steel plant in Port Talbot, Wales, industry sources said, as the two firms press ahead with plans to merge their European steel operations and deal with the overcapacity afflicting the industry. Indian-owned Tata Steel, which employs 11,000 people in...

  • YANGON/ WASHINGTON, Nov 29- From a remote corner of northeastern Myanmar, an insurgent army sells tin ore to suppliers of some of the world's largest consumer companies. More than 500 companies, including leading brands such as smartphone maker Apple, coffee giant Starbucks and luxury jeweler Tiffany& Co, list among their suppliers Chinese-controlled firms...

  • YANGON, Nov 29- More than 500 companies list among their suppliers Chinese-controlled firms that indirectly buy tin ore from a mine operated by an ethnic armed group in Myanmar, a Reuters examination of the supply chain found. The Man Maw mine is controlled by the United Wa State Army, which the United States placed under sanctions for alleged narcotics...

  • *China infrastructure, property investment boost metals. LONDON, Nov 28- Zinc soared to a nine-year high on Monday and lead hit a five-year peak as reports of more infrastructure investment in China and signs of strong property investment in the world's top metals user sparked heavy buying. China on Monday approved a 247 billion yuan railway plan to improve...

  • MUMBAI, Nov 28- Tata Steel UK, the British arm of India's Tata Steel, will hold exclusive talks with trading firm Liberty House to sell its speciality steel business as its parent seeks to offload loss-making assets and restructure European operations. Tata Steel, India's biggest steelmaker by overall capacity, has been trying to restructure its UK business,...