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Materials and Metals Metals and Mining

  • BUENOS AIRES, April 21- Barrick Gold Corp and its new Chinese partner presented a $500 million plan on Friday to make safety and environmental improvements to the Veladero gold mine in Argentina after the third cyanide spill in 18 months, a company executive said. Argentina told Barrick earlier this month it had to overhaul environmental and operating...

  • LONDON, April 21- Copper suffered a third week of losses amid a broad decline for industrial metals on Friday as worries over political instability and global demand prompted investors to cut bets on higher prices. *COPPER SUPPLY: The global refined copper market had a 51,000 tonne surplus in January, up from a 44,000 tonne surplus in January last year, the...

  • SEOUL, April 21- South Korea plans to raise the issue of U.S. restrictions on steel imports at World Trade Organization committee meetings next week, its trade ministry said on Friday. The United States has already slapped a series of anti-dumping duties on steel imports from South Korea and other countries. The United States is the biggest market after China for...

  • JAKARTA, April 21- Miner Freeport McMoran Inc.' s Indonesia unit has been granted a permit to export 1.11 million wet metric tonnes of copper concentrate until February of next year, a trade ministry official said. Oke Nurwan, director general of foreign trade at Indonesia's trade ministry, told Reuters the permit was valid until Feb. 16, 2018.

  • *Thousands of "zama zamas" mine gold illegally in South Africa. WESTONARIA, South Africa, April 21- Illegal gold mining has plagued South Africa's mining companies for decades, robbing the industry and state coffers of billions of rand through smalltime pilfering as well as networks run by organised crime. "We will have them out then," Sibanye's Chief Executive Neal...

  • LONDON, April 21- Supply concerns helped copper higher on Friday but the metal was still on track for a third week of losses due to fund selling earlier in the week on fears political instability could hurt global growth. Stocks in warehouses monitored by the Shanghai Futures Exchange declined 11.5 percent to 240,191 tonnes from a week ago.

  • LONDON, April 21- Supply concerns helped copper higher on Friday but the metal was still on track for a third week of losses due to fund selling earlier in the week on fears political instability could hurt global growth. Stocks in warehouses monitored by the Shanghai Futures Exchange declined 11.5 percent to 240,191 tonnes from a week ago.

  • LONDON, April 21- Is aluminium the new steel for China's policy-makers? Threats to close capacity in the region around Beijing over the winter heating months had already propelled aluminium prices higher. They have just been given a further boost by news that Beijing has ordered the suspension of new capacity in the northwestern province of Xinjiang.

  • LONDON, April 21- Is aluminum the new steel for China's policy-makers? Threats to close capacity in the region around Beijing over the winter heating months had already propelled aluminum prices higher. They have just been given a further boost by news that Beijing has ordered the suspension of new capacity in the northwestern province of Xinjiang.

  • *Rebates, huge surplus fuelling China's steel exports. President Donald Trump's first shot across China's bow over its steel exports, escalating a years-long brawl over trade between the world's top two economies, may not pull up Beijing. Speaking in the U.S. capitol at IMF and World Bank meetings after Trump launched a trade probe against China and other...

  • Vice President Mike Pence told Indonesian President Joko Widodo that more steps were needed to resolve the dispute between mining company Freeport McMoRan Inc and the Indonesian government, a White House foreign policy adviser said on Friday. Amid rising tensions around the world's second-biggest copper mine, Pence briefly raised the issue during a...

  • LONDON, April 21- Global steel demand will grow more than previously forecast in 2017 due to a recovery in developed economies and accelerating growth in emerging and developing markets, especially Russia, Brazil and India, an industry body said on Friday. "We expect that Russia and Brazil will finally move out of their recessions. "However, China, which accounts...

  • Tensions are rising around Grasberg, the world's second-biggest copper mine, after operator Freeport laid off thousands of workers there to stem losses from an ongoing dispute with the Indonesian government over mining rights. While Freeport is expecting to soon seal agreements with Jakarta to allow it to temporarily resume copper concentrate exports...

  • TOKYO, April 21- Japanese steelmakers have bought coking coal from the United States, Canada and China to replace supply lost after a cyclone closed rail links in Australia, their biggest supplier, industry and trader sources said. In 2016, Japan bought about 71 percent of the 59.9 million tonnes of coking coal it consumed from Australia. "We've tapped supplies by...

  • SYDNEY, April 21- Zinc led a near across-the board rise in Shanghai base metals futures on Friday on the back of robust gains in overnight London trading and buoyant equity markets. The most-traded zinc contract on the Shanghai Futures Exchange climbed more than 3 percent to 21,860 yuan a tonne. Three-month zinc on the London Metal Exchange maintained...

  • *Asia ex- Japan stocks set for weekly loss; Nikkei higher. SINGAPORE, April 21- Asian stocks were set to end the week on a positive note, unscathed by a U.S. trade probe on Chinese steel exports, while the euro remained on edge ahead of Sunday's first round in a tight French presidential election after a shooting overnight in Paris that was claimed by Islamic State.

  • SEOUL, April 21- The South Korean government and steel industry should consider all measures including filing a complaint with the World Trade Organization in response to "deepening U.S. trade protectionism," a steel company official told Reuters. President Donald Trump on Thursday launched a trade probe against China and other exporters of cheap steel into...

  • Citing concerns about national security, Trump on Thursday launched a trade probe against China and other exporters of cheap steel into the U.S. market, raising the possibility of new tariffs. In Japan, shares in Nippon Steel rose 1.3 percent, after five weeks of steady losses, partly on speculation that any action by the U.S. would mostly target China which is...

  • SEOUL, April 21- South Korea's government and steel industry should consider all measures including filing a complaint with the World Trade Organization in response to "deepening U.S. trade protectionism", an industry source told Reuters on Friday. President Donald Trump on Thursday launched a trade probe against China and other exporters of cheap steel into...

  • Citing concerns about national security, Trump on Thursday launched a trade probe against China and other exporters of cheap steel into the U.S. market, raising the possibility of new tariffs. In Japan, shares in Nippon Steel rose 1.5 percent, after five weeks of steady losses, partly on speculation any action by the U.S. would mostly target China which is easily...