×

Materials and Metals Metals and Mining

  • DAR ES SALAAM, Sept 7- Tanzanian President John Magufuli has ordered a review of a Petra Diamonds Ltd contract and asked senior public officials to resign over the outcome of a probe into the mining sector, he said on Thursday. The company's shares fell as much as 3.5 percent, but had trimmed losses to trade down 0.9 percent at 90 pence by 1240 GMT.

  • *India, U.S., Japan, Australia can ally for clean coal technology. NEW DELHI, Sept 7- India needs to partner with other countries to tap cheaper funds for cleaner coal technologies as the South Asian nation is expected to use the fuel to produce over half of its power in the next two decades, the World Coal Association chief said on Thursday. India will need to ally with...

  • DAR ES SALAAM, Sept 7- Tanzanian President John Magufuli said on Thursday he had ordered a review of a local contract belonging to Petra Diamonds Ltd and asked senior public officials to resign over the outcome of a probe into the mining sector. London- listed Petra has a 75 percent stake in the mine, while the government owns the rest. Tanzania has passed new laws to...

  • MELBOURNE, Sept 7- London copper slipped from three-year highs on Thursday as traders locked in profits ahead of the outcome of a European monetary policy meeting later in the day, however a brighter outlook for global manufacturing growth cushioned losses. "Stronger than expected PMI numbers are constructive to the copper demand outlook in China," said...

  • MELBOURNE, Sept 7- London copper edged back towards three-year highs on Thursday as the dollar lost ground against the euro ahead of a European Monetary policy meeting later, while a brighter outlook for global manufacturing growth underpinned prices. *SHFE COPPER: Shanghai Futures Exchange copper traded little changed at 53,150 yuan a tonne.

  • WASHINGTON, Sept 6- The U.S. Commerce Department on Wednesday said it made an initial finding that carbon and alloy steel wire rod from Belarus, Russia and the United Arab Emirates are being dumped in the U.S. market, and imposed antidumping duties of up to 756.93 percent. In 2016, imports of carbon and alloy steel wire rod from Belarus, Russia and the UAE were valued...

  • BISHKEK/ TORONTO, Sept 6- Centerra Gold Inc and the Kyrgyz Republic have reached a proposed settlement related to mutual environmental lawsuits on the company's Kumtor gold mine, though an agreement has not yet been finalized, the Canadian miner said on Wednesday. Talks are at an advanced stage on a deal to settle all outstanding disputes affecting Kumtor, said...

  • BISHKEK/ TORONTO, Sept 6- Centerra Gold Inc and the Kyrgyz Republic have reached a proposed settlement related to mutual environmental lawsuits on the company's Kumtor gold mine, though an agreement has not yet been finalized, the Canadian miner said on Wednesday. Talks are at an advanced stage on a deal to settle all outstanding disputes affecting Kumtor, said...

  • LONDON, Sept 6- Zinc prices slipped on Wednesday as investors locked in profits after a sharp rally in recent weeks that was based more on speculative buying than on underlying physical demand. Given all these analysts, including myself, saying they've gone too far, some investors may be getting a bit nervous, " Caroline Bain, chief commodities economist at Capital...

  • LONDON, Sept 6- Zinc prices slipped on Wednesday as investors locked in profits after a sharp rally in recent weeks that was based more on speculative buying than on underlying physical demand. Given all these analysts, including myself, saying they've gone too far, some investors may be getting a bit nervous, " Caroline Bain, chief commodities economist at Capital...

  • CONAKRY, Sept 6- China agreed on Wednesday to loan Guinea $20 billion over almost 20 years in exchange for concessions on bauxite, an ore of aluminium which the West African country has in abundance, the mines minister said. The minister said the money would be spent on badly needed infrastructure- Guinea is one of the world's least developed countries- a...

  • CONAKRY, Sept 6- China agreed on Wednesday to loan Guinea $20 billion over almost 20 years in exchange for concessions on bauxite, an ore of aluminum which the West African country has in abundance, the mines minister said. The minister said the money would be spent on badly needed infrastructure- Guinea is one of the world's least developed countries- a...

  • BEIJING/ SINGAPORE, Sept 6- Guangzhou port, the largest coal transport hub in southern China, has halted foreign coal imports, according to traders who use the port and said they had been informed of the shutdown by customs authorities and senior company officials. Traders said the move caught merchants using Guangzhou by surprise and interpreted it as a sign of...

  • LONDON, Sept 6- Zinc, copper and most other base metals slipped on Wednesday as investors locked in profits from a steep rally in recent weeks that was based more on speculative buying than on underlying physical demand. *ZINC: LME benchmark zinc was the biggest LME decliner, falling 1.7 percent to $3,088 a tonne by 1030 GMT after giving up 2 percent on Tuesday.

  • MANILA, Sept 6- Around 300 protesters clashed with security on Wednesday at a Manila hotel where an annual mining conference was being held, demanding that mineral extraction be halted due to the environmental destruction caused. Anti-mining protests are a fixture at mining industry events in the Philippines. In 1996, for instance, a tailings leak at...

  • LONDON, Sept 6- The platinum market edged back into surplus in the second quarter, an industry report said on Wednesday, as rising supply and a drop in automotive, jewellery and industrial demand erased the previous quarter's 305,000- ounce shortfall. With investment, which held steady in the last quarter, also expected to halve this year, the market is set to pull...

  • LONDON, Sept 6- The platinum market edged back into surplus in the second quarter, an industry report said on Wednesday, as rising supply and a drop in automotive, jewelry and industrial demand erased the previous quarter's 305,000- ounce shortfall. With investment, which held steady in the last quarter, also expected to halve this year, the market is set to pull...

  • MELBOURNE, Sept 6- London copper on Wednesday eased from three-year highs touched the day before on the back of strong factory growth in China, with investors booking profits amid ongoing tensions over North Korea. *LONDON COPPER: London Metal Exchange copper had eased 0.3 percent to $6,880 a tonne by 0155 GMT. *SHANGHAI COPPER: Shanghai Futures Exchange copper...

  • China will work to balance aluminum capacity and utilization, making for a volatile market in the next six months, says Julian Kettle, vice chairman Metals and Mining, Wood Mackenzie.

  • TORONTO, Sept 5- Canada's main stock index fell on Tuesday as investors pulled back amid tensions over North Korea's nuclear program and as another hurricane threatened the southern United States. Teck Resources Ltd fell 6.7 percent to C $29.47 after Chinese sovereign wealth fund China Investment Corp, a cornerstone shareholder, sold a substantial chunk of...