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Materials and Metals Metals and Mining

  • 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...

  • VANCOUVER, Sept 5- A unit of Chinese sovereign wealth fund China Investment Corp, a cornerstone shareholder of Teck Resources Ltd, has sold around 41.5 percent of its stake in the Canadian miner, Teck said on Tuesday, sending its shares tumbling. CIC bought the equity stake in July 2009 for C $1.74 billion at C $17.21 a share, meaning if the stock was sold near market...

  • MOSCOW, Sept 5- Russia's top gold producer Polyus said on Tuesday it had started commissioning its Natalka mine in the country's Far East, a project that is expected to help the firm lift its gold output by a third by 2019.. Commissioning of the Natalka plant, the largest in Russia with capacity to process 10 million tonnes of ore a year, was formally launched by...

  • MOSCOW, Sept 5- Russia's top gold producer Polyus said on Tuesday it had started commissioning its Natalka mine in the country's Far East, a project that is expected to help the firm lift its gold output by a third by 2019.. Commissioning of the Natalka plant, the largest in Russia with capacity to process 10 million tonnes of ore a year, was formally launched by...

  • TORONTO, Sept 5- Canada's main stock index lost ground on Tuesday in a broad retreat led by financial stocks as bond yields fell, while gold miners gained and energy stocks perked up with a surge in oil prices and news of a deal in Alberta's oil patch. At 10:27 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was down 83.95 points, or 0.55 percent, at...

  • *Philippines is world's top nickel ore exporter. MANILA, Sept 5- Philippine President Rodrigo Duterte said on Tuesday he agreed with banning open-pit mining in the world's top nickel ore exporter given the environmental damage it causes but would give mining firms time to find other ways to extract minerals. Duterte said in a televised speech that the...

  • Sept 5- Gold prices edged up on Tuesday, hovering around their highest levels in nearly a year, as North Korea's most powerful nuclear test to date underpinned haven demand for the precious metal. Stock markets were under pressure on Tuesday following a global selloff the previous day in the wake of North Korea's nuclear test, while the dollar slipped against the...

  • Sept 5- Gold prices on Tuesday edged away from their highest in nearly a year as the dollar steadied, though safe-haven demand continued to support the precious metal in the wake of North Korea's most powerful nuclear test to date. *The United States accused North Korea's trading partners on Monday of aiding its nuclear ambitions and said Pyongyang was "begging...

  • LONDON, Sept 4- Gold prices jumped to their highest in nearly a year on Monday as escalating tensions between North Korea and the United States and a weaker dollar persuaded investors to take refuge in assets perceived to be safe. Spot gold hit $1,339.47 on Monday, its highest since Sept. 27 last year, a time when the metal was benefiting from a surge of interest...

  • China's imports of seaborne iron ore were around 88.9 million tonnes in August, according to vessel-tracking and port data compiled by Thomson Reuters Supply Chain and Commodity Forecasts. The vessel-tracking data doesn't align exactly with China's official customs numbers as it excludes iron ore that arrives by rail from neighbouring countries, and...

  • BEIJING, Sept 4- China's Bengang Steel Plates Co said it aimed to honour deliveries to customers after a fire at one of its blast furnaces on Friday shut down more than a third of its ironmaking capacity. The damaged blast furnace in Liaoning province, with an annual design capacity of 3.79 million tonnes of pig iron, was undergoing repairs and it was "unclear when...