Investors found no solace in traditional safe haven gold with the precious metal setting a one-and-a-half year low.
Freeport Mining News
The base metals producer said that, while it has not yet received a formal offer from Lundin, the bid announced Monday the bid ignores the fundamental value of the company and its assets.
Indonesian minister says majority stake purchase of iconic mine seen valued at $3.5 billion to $4 billion.
A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.
Decision gives 18 months more than planned to the operation, which would result in additional production of 470 million pounds of zinc and 52 million pounds of copper during that period.
As follow-up to the audit, the environment minister issued two decrees that gave Freeport six months to overhaul management of its mine waste at Grasberg.
Nevsun, who declined the offer for the fourth time, said the proposal undervalued its Timok copper-gold project in Serbia and that junior Euro Sun was “not an attractive partner”.
Freeport is looking at other options for the asset, including possibly a joint venture to develop the large cobalt project.
Top listed copper producer Freeport jumped 7.4% and with Vale – up 6% – was among the NYSE's top 10 most actively traded stocks.
Investors ignore positive third quarter results to focus on lack of meaningful progress in talks with Indonesia over future of giant Grasberg mine.
New report says Rio talking to Indonesian groups to sell interest in giant copper, gold mine – Freeport still at loggerheads with Jakarta about stake sale.
Is the industrial metals and steelmaking raw materials rally at en end?
Copper above $3.00 after former workers torch dozens of buildings, vehicles at Freeport's Indonesia operations blocking access to world number two mine.
The indefinite labour action involves 56 unions, which are protesting a government’s proposed reform they see as "anti-workers".
World's top listed copper miner cuts production outlook for the year, but impact of dispute with Jakarta more contained than thought.
The news follows the end of a historically long 43-day strike at BHP Billiton’s Escondida, the world's biggest copper mine in neighbouring Chile.
State holding company ready to take 51% stake says Indonesian deputy mines minister as dispute over ownership of iconic copper-gold mine intensifies.
Freeport restarts supply to domestic smelter in Indonesia, but the copper concentrate export ban at iconic mine remains in place.
Around 1,300 unionized miners plan to start an indefinite stoppage at Peru's largest copper mine beginning March 24.
Disputes at BHP Billiton’s Escondida mine in Chile, the world's biggest copper mine, and Freeport’s Grasberg and Cerro Verde mines, are also having a significant effect on global supplies of concentrate.
The mine produced just under 500,000 tonnes of the red metal last year, making it Peru's largest copper operation.
Strike at Escondida, export ban and smelter problems at Grasberg and community clashes at Las Bambas.
Company will perform the work and federal government will contribute about half of the more than $600 million cleanup costs.
Gecamines claims it has pre-emptive rights to buy the stake as owner of the country’s mining titles.
Canada’s Lundin, which owns 24% of Tenke, has finally agreed to sell its stake to a private equity firm from Asia’s richest nation.