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Materials and Metals Metals and Mining

  • TORONTO, Nov 23- Canadian miner Sherritt International Corp said on Wednesday that four workers from its Moa joint venture in Cuba had died when a municipal bridge they were repairing collapsed Tuesday afternoon. Sherritt, which owns 50 percent of the Moa nickel operation with General Nickel Company SA of Cuba, said the bridge had been damaged by Hurricane...

  • *Steelmakers see ally in Trump adviser Dan DiMicco. LONDON/ CHICAGO, Nov 23- The top U.S. steelmakers' association said it has been in contact with President-elect Donald Trump's transition team since his election on Nov. 8, as the industry seeks tougher trade defenses under his incoming administration. "We initially communicated with the transition team prior to...

  • Futures Now: Gold hits 9-month low

    The "Futures Now" team discusses gold's nine-month low, and where they see the commodity heading from here.

  • *STOXX Europe 600 index ends down 0.07 pct. LONDON, Nov 23 (Reuters)- European shares steadied on Wednesday, with basic resources companies underpinning the broader market following a rise in metals prices. President-elect Donald Trump's pledge to invest heavily in infrastructure projects will enhance demand for raw materials.

  • Potash Corp is still completing a multiyear expansion of its Rocanville, Saskatchewan, mine. Potash Corp has long matched supply to demand, and that practice will continue, spokesman Randy Burton said. Potash Corp shares dipped 1 percent in New York.

  • TORONTO, Nov 23- Freeport-McMoRan Inc, the world's largest publicly listed copper producer, said on Wednesday it raised $1.5 billion in an equity offering, completing its plan to reduce debt with proceeds from asset sales and new equity. Freeport, which has sold mining and energy assets in deals worth $6.6 billion this year, said it can now meet its debt reduction...

  • The company said it would cut production at its Cory, Saskatchewan, mine to 0.8 million tonnes a year from 1.4 million, resulting in a reduction of 100 jobs and 40 temporary positions starting in February. Potash Corp is still completing a multiyear expansion of its Rocanville, Saskatchewan, mine. Potash Corp shares dipped 0.8 percent in New York.

  • PARIS, Nov 23- French state-controlled nuclear group Areva hopes that China's CNNC and Japan's MHI will agree to buy minority stakes in the firm in coming weeks as part of a restructuring of the loss-making firm, Areva's chairman said on Wednesday. Under a government-led rescue, Areva is preparing to split off its uranium mining and nuclear fuel activities into...

  • TORONTO, Nov 23- Canada's main stock index was pushed lower on Wednesday by sharp declines among gold mining stocks as the precious metal slid to a nine-month low. Barrick Gold Corp fell 4.9 percent to C $19.63, and Goldcorp Inc declined 5.1 percent to C $17.22. Potash Corp slipped 0.4 percent to C $23.97.

  • BEIJING, Nov 23- China's leading mining company Aluminium Corporation of China has reached a preliminary agreement with Peru's government to expand the Toromocho copper mine, China's biggest overseas copper project. China's state industry supervisor SASAC, which announced the agreement in a statement on Wednesday, did not give details of the expansion...

  • LONDON, Nov 23- Copper fell on Wednesday, snapping two days of gains on concerns that the recent price rally sparked by U.S. president-elect Donald Trump's stated commitment to higher infrastructure spending had become overstretched. However, it failed to sustain a push above $6,000 a tonne. Three-month copper on the London Metal Exchange was untraded in...

  • *Focus on Britain's Autumn Statement. LONDON, Nov 23- European shares steadied on Wednesday after rising in the previous two sessions, with basic resources companies underpinning the broader market following a rise in metals prices. However, Britain's commodity-heavy FTSE 100 index climbed 0.7 percent.

  • LONDON, Nov 23- European shares rose for a third straight day on Wednesday, with basic resources companies underpinning the market again following a rise in metals prices. The pan-European STOXX 600 index was up 0.2 percent, with Britain's commodity-heavy FTSE 100 index increasing 0.7 percent. Investors' focus will be on Britain's Autumn Statement, due at 1230...

  • SYDNEY, Nov 23- London copper was little changed in Asian trade on Wednesday after overnight gains on signs of rising U.S. inflation and further depreciation in the yuan. *Three-month copper on the London Metal Exchange dipped 0.1 percent from the late London session to $5,607 a tonne by 0125 GMT. *Brazil says China, Russia dumping steel; holds fire on tariffs.

  • NEW YORK, Nov 22- Donald Trump's U.S. presidential victory has spurred safe-haven buying of physical gold in Europe, but traditional bullion holders in the United States are standing pat. For many outside the United States, Trump's pledge to rewrite the play book on trade and international relations prompted defensive gold buying. U.S. precious metals...

  • NEW YORK, Nov 22- Investors put fresh bets on steel company shares on Tuesday as comments about domestic production from U.S. president-elect Donald Trump helped bolster the positive investor sentiment in the industry that has been fueled by the Nov. 8 election. In a video about his policy plans posted late on Monday, Trump emphasized his desire for the next...

  • BRASILIA, Nov 22- Brazil's International Trade Secretariat characterized exports of hot rolled steel from China and Russia as "dumping" in an announcement in the Official Gazette on Tuesday but requested more information before raising tariffs. The investigation was opened in July at the request of Brazilian steel companies CSN and Gerdau SA as well as the...

  • TORONTO, Nov 22- Canada's benchmark stock index rose to a fresh 17- month high on Tuesday as base metal mining and financial shares rose, offsetting some profit-taking in energy shares ahead of a meeting next week of major oil producers. The Toronto Stock Exchange's S&P/TSX composite index was up 60.51 points, or 0.40 percent, at 15,100.38. Seven of the index's 10...

  • WASHINGTON, Nov 22- U.S. Steel Corp. has agreed to reduce pollution at three plants in the Midwest and pay a $2.2 million civil penalty to resolve a Clean Air Act lawsuit by the federal government and three states, the U.S. Justice Department said on Tuesday. Steel agreed to reduce pollution at its iron and steel manufacturing plants in Gary, Indiana; Ecorse, Michigan;...

  • TORONTO, Nov 22- Canada's main stock index gained in morning trade on Tuesday, extending a 17- month high as base metal mining and banking shares rose. The most influential gainers included Teck Resources Ltd, which rose 3.3 percent to C $33.07, and First Quantum Minerals Ltd, which jumped 4 percent to C $15.39. Barrick Gold Corp shed 1.8 percent to C $20.30 and Potash...