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Materials and Metals Metals and Mining

  • SHANGHAI, July 29- China shut 42.39 million tonnes of crude steel capacity in the first half of 2017, equal to 84 percent of its target for the whole year, a government official said at a meeting of the country's steel industry body on Friday. The country has essentially completed its five-year target, set last year, to cut between 100 million and 150 million tonnes...

  • SINGAPORE, July 27- Noble Group is slimming down drastically to its core Asian coal-trading business, but that may not be enough to revive its fortunes due to a staff exodus, shrunken balance sheet and debts of more than $3 billion, analysts and industry sources say. Once Asia's largest commodities trading house, Singapore- listed Noble is a shadow of what it was...

  • LONDON, July 28- It's all about China. In the case of aluminium, however, China's influence on the global supply chain is double-edged. As well as being the biggest user of aluminium, China is by some margin the largest producer, accounting for over 50 percent of global output.

  • LONDON, July 28- It's all about China. In the case of aluminum, however, China's influence on the global supply chain is double-edged. As well as being the biggest user of aluminum, China is by some margin the largest producer, accounting for over 50 percent of global output.

  • SINGAPORE, July 27- Noble Group is slimming down drastically to its core Asian coal-trading business, but that may not be enough to revive its fortunes due to a staff exodus, shrunken balance sheet and debts of more than $3 billion, analysts and industry sources say. Once Asia's largest commodities trading house, Singapore- listed Noble is a shadow of what it was...

  • *SHANGHAI COPPER: The most-traded copper contract on the Shanghai Futures Exchange was flat at 50,150 yuan a tonne. *CHINA DATA: Activity in China's factory sector is expected to have grown again in July, with only a slight slowdown from June's three-month high suggesting momentum in the economy remains strong despite a tighter policy environment.

  • VANCOUVER, British Columbia _ Eldorado Gold Corp. on Thursday reported second-quarter net income of $11.2 million, after reporting a loss in the same period a year earlier. The average estimate of four analysts surveyed by Zacks Investment Research was breakeven on a per-share basis. This story was generated by Automated Insights using data from Zacks...

  • LIMA, July 27- Peru's President Pedro Pablo Kuczynski swore in Cayetana Aljovin as the new Energy and Mines Minister on Thursday, tasking the former business manager and journalist with shaping mining policy in the world's No.2 copper, zinc and silver producer. "She has her work cut out for her," said Luis Marchese, the head of Peru's National Society of Mining,...

  • Net income tumbled 99 percent to $16 million from $1.1 billion a year earlier, far below an average estimate of $421 million. The world's largest iron ore miner kept making slow progress on cutting net debt, which slipped 3 percent in the three months through June to $22.12 billion- still a far cry from a target of $15 billion to $17 billion by year-end.

  • TORONTO, July 27- Barrick Gold Corp, the world's largest gold miner by production, has an "open mind" and is "very positive" about talks getting underway with Tanzania to resolve an export ban, President Kelvin Dushnisky told Reuters on Thursday. Barrick subsidiary Acacia Mining Plc has two mines affected by a ban that Tanzania introduced in March, accounting for...

  • TORONTO, July 27- Canada's main stock index gained on Thursday as major gold miner Barrick Gold Corp and a string of other companies reported better-than-expected earnings and oil producer Cenovus Energy Inc turned a profit. Barrick, the world's largest gold miner by production, rose 4.5 percent to C $21.08, as investors cheered the news it had produced more...

  • LONDON, July 27- Tin hit its highest price in six months on Thursday as reports of smelter shutdowns in China, the world's largest tin producer, raised worries supply would tighten further. Media reports in China said smelters in the country's largest tin-producing province had been shut down on environmental concerns. China has been ramping up its war on...

  • *Anglo American sets aside $101 mln. JOHANNESBURG, July 27- Mining companies Gold Fields and Anglo American have set aside over $130 million between them for a possible settlement with miners who contracted lung diseases at work. Anglo American said on Thursday it has set aside $101 million and Gold Fields said it had made a provision of $30.2 million.

  • LONDON, July 27- Tin hit its highest price in six months on Thursday as reports of smelter shutdowns in China tempered worries that exports from the world's largest tin producer will soar this year. Media reports in China said smelters in the country's largest tin-producing province had been shut down on environmental concerns. *COPPER: Copper hovered near a two...

  • JOHANNESBURG, July 27- South Africa's Gold Fields and global mining group Anglo American have set aside over $130 million between them for a possible settlement with miners who contracted lung diseases at work. Anglo American said it has set aside $101 million and Gold Fields said it had made a provision of $30.2 million. Anglo American also said its provision...

  • LONDON, July 27- Copper rose on Thursday towards the high of more than two years hit in the previous session as the dollar weakened and investors remained upbeat about the outlook for Chinese metal demand, while tin surged on talk of shutdowns in China. "The move today is more dollar driven... optimism over demand in China has been the key driver ever since we got those...

  • NEW YORK/ HOUSTON, July 27- U.S. refineries are producing more fuel than ever as they seek to meet rising demand- from overseas, rather than the drivers on nearby roadways. Last year, the U.S. became the world's top net exporter of fuel, an outgrowth of booming domestic production since the shale oil revolution started in 2010. That's a fundamental shift from the...

  • SINGAPORE, July 27- Noble Group is slimming down drastically to its core Asian coal-trading business, but that may not be enough to revive its fortunes due to a staff exodus, shrunken balance sheet and debts of more than $3 billion, analysts and industry sources say. Once Asia's largest commodities trading house, Singapore- listed Noble is a shadow of what it was...

  • PARIS, July 27- Eramet pledged further cost cuts after its nickel division suffered more losses in the first half of the year and said it would shift strategy by entering the lower-grade nickel pig iron market via a mining project in Indonesia. Like other nickel miners, Eramet has been grappling with persistent weakness in market prices, partly due to moves by...

  • JOHANNESBURG, July 27- Glencore cut its 2017 output targets on Thursday after changes in what it extracts at some of its mines, rainfall and maintenance hit production in the first half of the year. At its Antamina mine in Peru, Glencore shifted its focus to ore containing a combination of copper and zinc instead of purely copper which led to a rise in zinc while...