Latest Base metals industry News

The Logo of the steel company ArcelorMittal is pictured in Saint Denis, outside Paris, France, Wednesday, Sept. 13, 2017. Cleveland-Cliffs is making its second billion-dollar acquisition in less than a year with the purchase of steel maker ArcelorMittal's U.S. business for about $1.4 billion in cash and stock. About a third of the deal will be an up front cash payment of about $505 million, the companies said Monday, Sept. 28, 2020. ArcelorMittal will also receive stock in Cleveland-Cliffs valued at about $873 million. (AP Photo/Michel Euler)

Cleveland-Cliffs buys ArcelorMittal's US business for $1.4b

Sep. 28, 2020 2:06 PM EDT

CLEVELAND (AP) — Cleveland-Cliffs is making its second billion-dollar acquisition in less than a year with the purchase of steel maker ArcelorMittal's U.S. business for about $1.4 billion in cash and stock. About a third of the deal will be an up front cash payment of about $505 million, the companies said...

President Donald Trump arrives for a campaign rally at Bemidji Regional Airport, Friday, Sept. 18, 2020, in Bemidji, Minn. (AP Photo/Evan Vucci)

Trump and Biden hit unlikely battleground state of Minnesota

Sep. 18, 2020 8:08 PM EDT

DULUTH, Minn. (AP) — A solidly blue state for the past half century, Minnesota became an unquestioned presidential battleground on Friday as President Donald Trump and Democratic challenger Joe Biden fought for working-class voters in dueling events that marked the beginning of early voting. Their...

FILE - In this June 28, 2018, file photo, rolls of finished steel are seen at the U.S. Steel Granite City Works facility in Granite City, Ill.  Companies seeking relief from President Donald Trump’s taxes on imported steel and aluminum ran into long delays and cumbersome paperwork, a federal watchdog found, Wednesday, Sept. 16, 2020. The U.S. Government Accountability Office reported that the Commerce Department, overwhelmed by companies lobbying to avoid the tariffs, could not meet its own deadline for processing around three-fourths of the requests. (AP Photo/Jeff Roberson, File)

US companies seeking tariff relief faced red tape, delays

Sep. 16, 2020 12:18 PM EDT

WASHINGTON (AP) — Companies seeking relief from President Donald Trump’s taxes on imported steel and aluminum ran into long delays and cumbersome paperwork, a federal watchdog found. The U.S. Government Accountability Office reported that the Commerce Department, overwhelmed by companies lobbying to...

Rio Tinto chief executive Jean-Sebastien Jacques attends an annual general meeting in Perth, May 9, 2019. Jacques will leave the Anglo-Australian mining giant by March, 2021, over the destruction of the sacred sites, the company said on Friday, Sept. 11, 2020. (Will Russell/AAP Image via AP)

Rio Tinto CEO to leave over destruction of Indigenous sites

Sep. 11, 2020 2:50 AM EDT

CANBERRA, Australia (AP) — Rio Tinto chief executive Jean-Sebastien Jacques will leave the Anglo-Australian mining giant by March over the destruction of Australian Indigenous sacred sites to access iron ore, the company said on Friday. “Significant stakeholders have expressed concerns about...

A vehicle passes by in front of a Kanbawza bank branch Thursday, Sept. 10, 2020, in Yangon, Myanmar. The Kanbawza Group, or KBZ, is one of Myanmar’s largest conglomerates, with businesses in a variety of sectors including construction, finance, manufacturing, agriculture, trading, insurance, aviation and jade and ruby mining and joint ventures with Myanmar Economic Holdings, a huge conglomerate that an Amnesty International report says is supporting military units and individuals involved in human rights abuses. (AP Photo/Thein Zaw)

Amnesty Report: Businesses supporting Myanmar abuses

Sep. 10, 2020 10:51 AM EDT

__ (AP) — The overwhelming control of Myanmar’s economy by the military through some of its biggest companies means its foreign and domestic business partners are likely supporting military units and leaders suspected of human rights abuses, critics say. A report by Amnesty International released...

Local officials visit the gold and copper mine site, in Reko Diq district in southwestern Pakistan's Baluchistan province March 18, 2017. Pakistan is seeking the reversal of a $5.8 billion penalty imposed by an international tribunal for denying a mining lease to an Australian company, saying that paying the fine will hinder its ability to cope with the coronavirus pandemic. The Reko Diq district is famed for its mineral wealth, including gold and copper. (AP Photo/Naseem James)

Pakistan seeking relief from $5.8B fine over mining lease

Sep. 7, 2020 1:59 AM EDT

ISLAMABAD (AP) — Pakistan is seeking the reversal of a $5.8 billion penalty imposed by an international tribunal for denying a mining lease to an Australian company, saying that paying the fine would hinder its handling of the coronavirus pandemic. The Reko Diq district in southwestern Pakistan’s...

Judge mostly OKs regulators' handling of mine water permit

Sep. 5, 2020 9:39 AM EDT

ST. PAUL, Minn. (AP) — A judge ruled the Minnesota Pollution Control Agency did not deviate from most of its procedures when it issued a key water quality permit for the proposed PolyMet mine project. The ruling is a victory for supporters of the state's first copper-nickel mine and the agency, which mine...

A shopping center is sparsely attended in Sydney, Wednesday, Sept. 2, 2020. Australia's economy has suffered its sharpest quarterly drop since the Great Depression because of the pandemic, with data released on Wednesday confirming the country is experiencing its first recession in 28 years. (AP Photo/Rick Rycroft)

Australia's economy takes sharpest dive since the 1930s

Sep. 2, 2020 5:05 AM EDT

CANBERRA, Australia (AP) — Australia’s economy suffered its sharpest economic contraction since the Great Depression due to the pandemic, with data released Wednesday confirming the country is in its first recession in 28 years. The economy shrank 7% in the June, the biggest contraction since...

Protesters rally outside the Rio Tinto office in Perth, Australia, June 9, 2020. Rio Tinto chief executive Jean-Sebastien Jacques will lose around $3.5 million in bonuses due to the destruction in May of Australian indigenous sacred sites, the mining company said on Monday, Aug. 24, 2020. (Richard Wainwright/AAP Image via AP)

Rio Tinto CEO loses $3.5M over destroyed Indigenous sites

Aug. 24, 2020 10:59 PM EDT

CANBERRA, Australia (AP) — Rio Tinto chief executive Jean-Sebastien Jacques will lose around $3.5 million in bonuses due to the destruction of Australian Indigenous sacred sites to access iron ore, the mining company said on Monday. The Anglo-Australia mining giant announced that three executives would...

FILE - In this July 13, 2007, file photo, workers with the Pebble Mine project test drill in the Bristol Bay region of Alaska, near the village of Iliamma. A proposed gold and copper mine at the headwaters of the world's largest sockeye salmon fishery in Alaska would cause

Corps: Alaska mine would have adverse impacts on salmon site

Aug. 24, 2020 3:56 PM EDT

ANCHORAGE, ALASKA (AP) — A proposed gold and copper mine at the headwaters of the world’s largest sockeye salmon fishery in Alaska would cause “unavoidable adverse impacts,” the U.S. Army Corps of Engineers said in a letter to the developer released Monday. The corps is giving Pebble...