United States

Melanie Burton

BHP cuts iron ore production outlook after Australian cyclone

Apr 16 2019

MELBOURNE BHP Group, the world's biggest miner, joined rival Rio Tinto on Wednesday in cutting its forecast for iron ore output after a tropical cyclone, although analysts expect high prices to limit any impact on profits.

Indian-owned coal mine a flashpoint for Australian election

Apr 16 2019

TOWNSVILLE, Australia On the main shopping street in the tropical north Australian city of Townsville, dotted with "For Lease" signs, Chrissa Alexion is adamant a planned $4 billion coal mine should be shelved because of its contribution to climate change.

Australian media charges over Cardinal Pell trial 'chilling' for open justice: lawyer

Apr 14 2019

MELBOURNE Charges against dozens of journalists and publishers in Australia over the reporting of Cardinal George Pell's child sex abuse conviction will have a chilling effect on future news reporting if they are found guilty of breaching a suppression order, a lawyer defending the press told a court on Monday.

Adani's Australian coal mine wins further environmental approval

Apr 09 2019

MELBOURNE India's Adani Enterprises has taken a step closer to the construction of a controversial thermal coal mine in Australia after winning federal government approval for its groundwater management plan.

UPDATE 3-Lynas reviews rare earths ore processing as Malaysia ups pressure

Apr 08 2019

* Lynas says it sees value in processing near Australian mine

Australia's Wesfarmers hints takeover battle for Lynas not over

Mar 29 2019

MELBOURNE/SYDNEY Australia's Wesfarmers Ltd remains keen on buyout talks with rare earths miner Lynas Corp Ltd, the retail-to-chemicals conglomerate said on Friday, despite its A$1.4 billion ($992 million) approach being rejected earlier this week.

Rio Tinto declares force majeure on some iron ore contracts after cyclone

Mar 29 2019

MELBOURNE Rio Tinto said on Friday it issued force majeure notices to some iron ore customers due to damage from tropical cyclone Veronica, which hit Western Australia earlier this week.

Rio Tinto, BHP Group restart some operations after cyclones

Mar 26 2019

MELBOURNE Miners Rio Tinto and BHP Group said on Tuesday they had begun to resume operations at some facilities that had been halted as two separate cyclones battered Australia's northern coastline over the weekend.

REFILE-METALS-Copper drifts as U.S. economy worries weigh

Mar 26 2019

(Corrects day in paragraph 1 to Tuesday from Monday) By Tom Daly and Melanie Burton BEIJING/MELBOURNE, March 26 Copper prices in both London and Shanghai exchanges drifted in Asian trade on Tuesday as fears of a recession in the United States were offset by a supply disruption at a key copper mine in Peru. "So far, the impact on metals is all macro driven, and I think the market is now looking for a catalyst for its next move," said analyst Helen Lau of broker Argonaut in Hong Kong. The disruption at MMG's Las Bambas mine may add to supply concerns because it is one of the world's top copper mines, she added. FUNDAMENTALS * LME COPPER: Three-month copper on the London Metal Exchange slipped 0.2 percent to $6,325.5 a tonne as of 0700 GMT, after closing up 0.4 percent on Monday. The most traded May copper contract on the Shanghai Futures Exchange ended down 0.4 percent at 48,230 yuan ($7,186) a tonne. * PERU: Chinese copper miner MMG said it expected to declare force majeure under sales contracts at its Las Bambas mine in Peru after a protest from an indigenous community caused a weeks-long road blockade. Production is expected to be progressively impacted from later this week, it said. * COPPER: Chilean state miner Codelco said on Monday it had terminated its contract with Canadian company SNC-Lavalin Group Inc at its Chuquicamata mine in northern Chile, accusing the engineering firm of failing to comply with its work commitments at the world's largest open pit mine. * SPREADS: Cash copper switched to trading at a discount of $3 a tonne to the three-month contract as of Monday, having stayed in premium zone since Feb. 15 and peaked at a premium of $70 on March 5. * OTHER METALS: Shanghai zinc was the top performer, rising 1.9 percent to close at 22,225 yuan a tonne amid tightening stocks. In London, zinc, aluminium and lead all gained slightly. * ZINC: China's refined zinc imports plunged to a two-year low of 20,350 tonnes in February, according to customs data, due to an unfavourable arbitrage between London and Shanghai. Refined copper cathode imports fell 5.5 percent year-on-year to 213,947 tonnes. * For the top stories in metals and other news, click or PRICES BASE METALS PRICES 0128 GMT Three month LME copper 6339 Most active ShFE copper 48330 Three month LME aluminium 1888.5 Most active ShFE aluminium 13635 Three month LME zinc 2838 Most active ShFE zinc 22035 Three month LME lead 2015 Most active ShFE lead 16850 Three month LME nickel 12930 Most active ShFE nickel 99680 Three month LME tin 21335 Most active ShFE tin 146860 BASE METALS ARBITRAGE LME/SHFE COPPER LMESHFCUc3 -944.26 LME/SHFE ALUMINIUM LMESHFALc3 -1018.59 LME/SHFE ZINC LMESHFZNc3 -584.71 LME/SHFE LEAD LMESHFPBc3 687.34 LME/SHFE NICKEL LMESHFNIc3 -3111.37 ($1 = 6.7112 Chinese yuan) (Reporting by Tom Daly in BEIJING and Melanie Burton in MELBOURNE, editing by Richard Pullin and Subhranshu Sahu)

Australia's Wesfarmers launches $1.1 billion rare earths bid, shares fall

Mar 26 2019

MELBOURNE Australia's Wesfarmers Ltd made a surprise $1.1 billion offer on Tuesday for rare earths miner Lynas Corp Ltd, looking for new growth after a series of asset sales, but its shares fell as investors fretted about increased risk.

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