Basic Materials

IBM Strikes $1B Deal With Brazil Mogul Batista
April 05 2012 9:48 AM

The U.S. titan will provide technology services to Eike Batista's EBX Group and acquire a 20 percent stake in EBX subsidiary SIX Automacao.
Indonesia Mulls Steep Tax On Mineral Exports
April 03 2012 10:58 AM

One of the world's largest exporters of raw materials is working to introduce a steep tax on just such shipments this year, Reuters is reporting, a move that is catching foreign investors and major trading partners by surprise.
Big Brazilian Companies Eye Major Portuguese Cement Maker
April 02 2012 2:55 PM

Two Brazilian industrial titans are circling a big Portuguese cement maker in the latest sign that the euro zone's recession is cutting the value companies based in struggling European countries and making them takeover targets.
US Silver's 2011 Results Boosted By Rising Prices
March 30 2012 4:19 PM

U.S. Silver Corp. enjoyed a bountiful 2011, with revenue, net income, and production all increasing, thanks primarily to the rise in the price of silver, while reserves rose for the fifth consecutive year, the company reported on Thursday.
Sumitomo Metal Mining Finds New Gold Deposit in Alaska
March 27 2012 8:58 AM

Sumitomo Metal Mining Co., Ltd. (TYO:5713), a major Japanese non-ferrous metal miner, said Tuesday it has discovered a new gold deposit containing about 40 metric tons of gold at its Pogo mine in Alaska.
Gold Miners Say Mali Coup Not an Issue For Them
March 22 2012 12:36 PM

A coup d'etat currently underway in Mali is not affecting gold production there, miners in the country are saying, as events related to the military uprising seem confined to the country's capital, hundreds of miles away from where gold deposits are located.
Freeport-McMoRan Copper & Gold Cut Gold Output Estimate on Grasberg Strike
March 15 2012 3:24 PM

Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) said Thursday that it has resolved a labor dispute with PT Freeport Indonesia workers at its Grasberg mining and milling operations, but that the work stoppage will cost the company production and sales of a significant amount of copper and gold.
Coal’s Share of U.S. Electricity Generation Falls to 35-Year Low
March 13 2012 12:06 PM

The share of power generation in the U.S. by burning coal has fallen to near a 35-year low, as electric power plants showed less interest in thermal coal due to a mild winter and a shift to cheaper gas.
NY Lawmakers Propose Studying Health Impact Of Fracking
March 13 2012 11:23 AM

The Assembly, the state legislature's lower house, allocated $100,000 to study the effects on public health of the controversial practice of horizontal hydraulic fracturing, or fracking, in which millions of gallons of water and chemicals are blasted into the ground to split apart rocks containing natural gas, then pumped out to extract fuel.
Gold Mining Execs Buzzing About Miner Stock Valuations: Report
March 13 2012 10:46 AM

Gold mining executives meeting in Toronto for an annual prospectors' convention have been buzzing about their stocks relatively weak valuatio and what they should be doing about it, the Financial Times reported.
Presidential Progress Report: U.S. To Meet President's Energy Goals, White House Says
March 12 2012 5:57 PM

In a presidential progress report published Monday, the U.S. seems poised to meet President Barack Obama's future energy plans as outlined in March of last year.
Silver Standard Resources Profit Off 99%, But Beats Street
March 12 2012 4:22 PM

Silver Standard Resources, Inc. (NASDAQ:SSRI) reported Monday the company had earned $2.6 million, or 3 cents per share, for the quarter ended December 31, a drastic drop of 99.3 percent when compared to the same period in the prior year, but better than analyst expectations which had assumed the company would post a loss for the quarter.
Feds Promise Action On Wall Street Speculation Blamed For High Gasoline Prices
March 12 2012 3:07 PM

In a bid to tamp down high gas prices, federal regulators hope to have rules in place that would limit oil and gasoline price speculation on Wall Street in several months.
Key EPA Fracking Study Update Delayed Again
March 09 2012 2:34 PM

State, local and Federal regulators have agreed on another round of water sampling at a site in Wyoming, as they investigate claims hydraulic fracturing contaminated ground water in the area.
IBT1000: Nakilat Shippers of the World's Natural Gas
March 09 2012 2:11 PM

War's shadow looms over the Strait of Hormuz, and for one company in Qatar, the disruption of shipping traffic of the Strait could very well mean the end of its business.
Deepwater Horizon: Judge Changes Management of BP Claims Fund
March 08 2012 6:03 PM

The judge handling the government's case against BP (NYSE: BP) took control of the third-party claims in a $20 billion fund, removing it from 9-11 Fund administrator Kenneth Feinberg.
Senate Blocks GOP Bid To Force Keystone XL Pipeline
March 08 2012 5:52 PM

A congressional Republican bid to fast track the controversial Keystone XL Pipeline failed in the Senate Thursday as Democrats voted the motion down.
Xstrata Paying $500M For Canadian Coking Coal Deposit
March 08 2012 9:41 AM

Swiss mining giant Xstrata PLC said Thursday it will pay $500 million in cash to Talisman Energy Inc. for its Sukunka hard coking coal deposit in northern British Columbia, Canada.
World Sugar Prices Fall as Peru Divests from Nation's Mills
March 07 2012 10:23 AM

Peru's government will complete divesting itself from the country's sugar mill industry, completing the change in agrarian policy in the country started in 1997 and marking the end of government involvement that sector has seen since 1969, according to Bloomberg News. The development is expected to help boost sugar production in the country and, consequently, send world sugar prices down.
BP Stock Hits Highest Level in Year on Gulf Coast Settlement
March 05 2012 9:29 AM

Traders throughout the world welcomed BP's settlement news Monday with the company's stock hitting its highest level in more than a year.

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