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Materials and Metals Metals and Mining

  • LONDON, Nov 9- Tata Steel UK is looking at closing its defined benefit pension scheme to future accruals and move members onto a defined contribution pension instead, a union source said on Wednesday. Britain's largest steelmaker is seeking a way to lessen the British Steel Pensions Scheme's deficit, which is one of the main stumbling blocks in talks to merge...

  • LONDON, Nov 9- Mining companies led gains on London's FTSE bluechip index on Wednesday as Republican Donald Trump's victory in the U.S. presidential election spurred hopes for higher metal demand and drove investors to buy gold as a shelter against economic uncertainty. The FTSE mining index rose around 5 percent to its highest level since May 2015 led by gold...

  • LONDON, Nov 9- Global markets reacted on Wednesday with concern to Donald Trump's surprise victory in the U.S. presidential election, but construction, pharma and gold mining stocks emerged as big winners in the European trading session. Gains in those three sectors helped pull European stocks off their early lows that had followed a slump in Wall Street...

  • LONDON, Nov 9- Global markets reacted nervously on Wednesday to Donald Trump's surprise victory in the U.S. presidential election, but construction, pharma and gold mining stocks emerged as big winners in the European trading session. Gains in those three sectors helped pull European stocks off their early lows that had followed a slump in Wall Street futures.

  • LONDON, Nov 9- Copper surged to its highest in more than 15 months on Wednesday, taking most of the complex to multi-month highs as investors tried to interpret the implications of Donald Trump's victory in the U.S. presidential election. "The Republicans have control of both houses of Congress and that means there is a possibility that those kind of programmes...

  • *Deals start as soon as Dec. 1- NDRC official. BEIJING, Nov 9- China's state economic planner said two of the nation's top coal mines signed long-term supply contracts with utilities at a quarter below current spot market rates, as the government ramps up its efforts to cool the red-hot market. Shenhua Energy Co and ChinaCoal Energy Co agreed to sell their coal at 535...

  • *Deals start as soon as Dec. 1- NDRC official. BEIJING, Nov 9- China's state economic planner said two of the nation's top coal mines signed long-term supply contracts with utilities at a quarter below current spot market rates, as the government ramps up its efforts to cool the red-hot market. Shenhua Energy Co and ChinaCoal Energy Co agreed to sell their coal at 535...

  • BEIJING, Nov 9- China's state planner said two of the nation's top coal mines had signed long-term supply contracts with utilities at 535 yuan per tonne, a quarter below current spot market rates, as the government ramps up its efforts to cool the red-hot market. Shenhua Energy Co and ChinaCoal Energy Co agreed to the terms for long-term deals which start as soon as...

  • *Energy and minerals chief Alan Davies suspended. MELBOURNE, Nov 9- Global miner Rio Tinto said on Wednesday it has suspended a top executive over $10.5 million in payments to a consultant on its Simandou iron ore project in Guinea, and has alerted U.S. and UK authorities. Rio Tinto said it became aware in August of emails from 2011 "relating to contractual payments...

  • MELBOURNE, Nov 9- Global miner Rio Tinto said on Wednesday it had alerted U.S. and UK authorities to $10.5 million in payments made to a consultant on its Simandou iron ore project in Guinea and has suspended two senior executives as a result. Rio Tinto said it became aware of emails from 2011 in August "relating to contractual payments totalling $10.5 million made...

  • *One case involves steel shipments diverted via Vietnam. *Vietnam says ready to work with EU anti-fraud office. But according to a filing on the Vietnamese trade ministry's website- http://bit.ly/2fcVFIV- OLAF is investigating 190 shipments of Chinese coated steel coils that arrived in Portugal, Spain and Poland from Vietnam in 2013-2014..

  • *One case involves steel shipments diverted via Vietnam. *Vietnam says ready to work with EU anti-fraud office. But according to a filing on the Vietnamese trade ministry's website, OLAF is investigating 190 cases of Chinese coated steel coils that arrived in Portugal, Spain and Poland from Vietnam in 2013-2014..

  • TOKYO, Nov 8- Japan Petroleum Exploration said on Tuesday it plans to delay the launch of its Hangingstone oil sands expansion project in Alberta, Canada, by a few months to mid-2017, a move that also pushes up costs by C $250 million. The oil and gas developer said investment by a subsidiary in the expansion project is set to rise to C $1.5 billion from C $1.25 billion.

  • *Q2 core profit $1.90 bln vs Reuters poll $1.97 bln. BRUSSELS, Nov 8- ArcelorMittal warned of slower earnings this quarter citing higher coal prices and lower U.S. steel prices after the world's largest steel producer missed core third-quarter profit expectations on Tuesday. Prices for Australian premium hard coking coal have surged to $250 per tonne from...

  • TOKYO, Nov 8- Nippon Steel& Sumitomo Metal Corp, the world's third-biggest steelmaker, does not expect coking coal prices to fall any time soon as China's steelmakers maintain high output while the country's coal producers trim supply, an executive said. Prices of coking coal and coke, which typically account for 20 percent of steel production costs, have rallied...

  • BEIJING, Nov 8- China's imports of commodities slowed to the lowest in months in October, as a week-long holiday closed factories, a weakening currency made foreign raw material more expensive and higher prices for products like crude oil hurt demand, analysts said. China's total exports and imports were lower than expected, adding to the doubts about a pick up in...

  • *Says output hit by heavy snow in first half. TOKYO, Nov 8- Japan's JX Holdings Inc expects to miss the copper concentrate output target at its Caserones mine in Chile in the fiscal year ending next March due to slow output in the first six months, an executive said on Tuesday. The company is aiming for output of 97,000 tonnes in the current business year, down from its...

  • Oz Minerals approves a $980mn mine in south Australia

    Oz Minerals' Andrew Cole talks about the miner's new Carrapateena gold and copper mine, and how cost-cutting and innovation are important to the business.

  • BEIJING, Nov 8- China imported 80.8 million tonnes of iron ore in October, the lowest since February and down 13 percent from the previous month, official data from China's customs showed, as steel mills curtailed output amid tightening profits and soaring costs. Compared with a year ago, shipments of the steelmaking ingredient were still up 7 percent.

  • The probe will determine whether imports of hot-rolled and cold-rolled steel made in China that is further processed in Vietnam are circumventing previous anti-dumping and anti-subsidy duties on Chinese steel, the Commerce Department said in a filing with the International Trade Commission. The move adds a new twist to heightened trade tensions between...