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Materials and Metals Metals and Mining

  • 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...

  • SAO PAULO, Nov 22- Brazilian stocks rose on Tuesday as hopes of higher prices of basic products lifted shares of miners, steelmakers and pulp producers. Shares of miners and steelmakers, such as Cia Siderúrgica Nacional SA and Vale SA, also extended their rally. An index tracking shares of producers of basic products listed on the São Paulo stock exchange...

  • JAKARTA, Nov 22- Indonesia will cut the royalty charged on sales of processed and refined nickel to 2 percent, a mining ministry official said on Tuesday, part of a revision of government rules on non-tax revenue from the coal and minerals sector. The reduction in royalties may come as welcome news to investors in Indonesia's budding smelter industry, which...

  • LONDON, Nov 22- Copper rallied 2 percent to a one week high on Tuesday, powered by signs of tighter supply and as investors betting on rising U.S. inflation and a further depreciation of the yuan bought the metal as a hedge. President-elect Donald Trump's spending policies will spur growth and inflation, while oil prices hit their highest since October on hopes for...

  • JAKARTA, Nov 22- Indonesia will cut the royalty charged on sales of processed and refined nickel to 2 percent, a mining ministry official said on Tuesday, part of a revision of government rules on non-tax revenue from the coal and minerals sector. The revision is needed to encourage more miners to develop smelters, said Coal and Minerals Director General Bambang...

  • LAUNCESTON, Australia, Nov 22- It may be a tad early to call a peak in the price of thermal coal in top-consuming region Asia, but at the very least the momentum seems to have been lost from a commodity that has surged some 130 percent in the past 10 months. A Dunkirk-style retreat would see coal prices hold on to much of their gains this year, just as the British Army...

  • LONDON, Nov 22- Metals and mining shares climbed 3 percent on Tuesday underpinning a firm open for Europe's benchmark stock index as the global reflation trade in the wake of Donald Trump's victory in the U.S. presidential election continued. In the United States, all three major stock indexes set record closing highs on Monday. Anglo American, BHP Billiton and...