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Goldman sells Metro metals warehouse unit to Reuben Bros

By: Reuters     Updated 4 hours ago Goldman Sachs Group has sold its controversial metals warehousing business to Swiss private equity group Reuben Brothers, the Wall Street bank said on Monday. The deal for Metro International Trade Services comes months after Goldman formally put the business on the block. Goldman bought Metro... 

Chilean mining firms nervous about impending labor reforms

By: Reuters     Updated 4 hours ago Mining firms in Chile, the world's top copper producer, say the government has left them in the dark over a new labour bill to be delivered to Congress this month, undermining the confidence of investors grappling with low metal prices. President Michelle Bachelet's socialist government says it... 

Chilean mining firms nervous about impending labor reforms

Iron-ore prices back at 4-1/2 yr lows on demand, policy worries

By: Reuters Iron ore prices slid back to 4-1/2 year lows on Monday while Chinese rebar futures fell, both hit by concerns over weak demand and that China may end a tax rebate for some steel exports. Benchmark 62% grade iron-ore for immediate delivery to China fell 2.2% to $68/t, according to data from the... 

M'bishi Materials, Mitsui buy copper concentrates from Oyu Tolgoi on trial

By: Reuters Japan's Mitsubishi Materials Corp and Mitsui & Co have bought 5 000 t of copper concentrates from Mongolia's Oyu Tolgoi copper mine, operated by Rio Tinto , on a trial basis, in an effort to diversify their procurement sources. "We purchase over 60% of copper concentrates from Chile and Peru and... 

Turning point for coal? Japanese trading firms snap up coal assets

By: Reuters Only a few months ago, a potential buyer said Japanese trading house Marubeni Corp was prepared to sell a costly stake in a Canadian coal mine for as little as $1. But a flurry of acquisitions of high-quality coal assets by Japanese firms in recent weeks signals that some trading houses at least... 

Turning point for coal? Japanese trading firms snap up coal assets

Feds give Seabridge Gold's KSM the environmental nod

By: Henry Lazenby One of the world’ largest undeveloped gold and copper projects, Seabridge Gold’s KSM project, in north-west British Columbia, has received the nod of approval from Canada’s Minister of the Environment Leona Aglukkaq, marking the end of a nearly seven-year journey to complete the joint harmonised... 

Alpha Natural affiliates settle selenium-discharge cases brought by greens

By: Henry Lazenby US coal producer Alpha Natural Resources affiliated mining operations has settled three selenium-discharge law suits brought by four environmental organisations. Selenium is a naturally occurring element that could be released into streams as a by-product of some common earth moving activities,... 

Oyu Tolgoi on track for full-year guidance despite concentrator fire, lowers 2015 guidance

By: Henry Lazenby Rio Tinto Subsidiary Turquoise Hill Resources on Friday reported that despite a recent concentrator fire at the massive Oyu Tolgoi copper/gold mine, in Mongolia, the operation was on track to meet its expected full-year output. Turquoise Hill in October reduced its 2014 forecasts for gold and... 

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