Indonesia Mining News

Indonesia sends team of experts as worker still trapped at Newcrest mine

The incident happened at Gosowong's Kencana mine — the same area where two men were trapped underground for eight days in December 2010.

Indonesia, Freeport fail to reach deal over copper export permit

The two sides have yet to resolve a government demand that the US firm first pay a $530 million deposit.

Freeport Indonesia boss steps down

Maroef Sjamsuddin's decision comes less than a month after the chairman of the U.S. mining giant stepped down.

Miners, commodities traders brace for La Niña

The last time the weather event was present, it wrought havoc on the mining industry in Australia, with thermal and coking coal mines in Queensland hit by flooding from cyclones and heavy rain.

Freeport-McMoRan chairman resigns, shares plummet

The company's co-founder James Moffett will step down as chairman and quit the board.

Freeport follows Anglo’s lead: suspends dividend, cuts spending, eyes assets sales

The U.S. miner became the latest mining company to announced drastic measures aimed at preserving cash amid a deepening commodity prices rout.

New doubts about Freeport's Grasberg licence

Amid corruption scandal and contradicting earlier safeguards, Indonesia says won't make a decision on future of giant copper and gold mine until 2019.

Newmont's Indonesian copper exports to restart

Exports suspended for nearly two months over building of smelter.

Indonesia probing allegations of extortion to Freeport-McMoRan by senior officials

The investigation aims to determine whether senior officials tried extorting Freeport’s Indonesian unit in return for letting the company continue to operate in the country.

Future of BHP coal mines in Indonesia hinging on mining rules revision

The country's government is in the midst of reviewing its mining legislation, particularly mandatory divestment rules and contract extensions.

Newmont slashes costs, mines 16% more gold

Also approves expansion of Tanami mine in Australia.

Freeport logs third-quarter loss after massive oil and gas write-down

The U.S’s largest mining company unveils plans to further slash copper and molybdenum output.

Indonesia promises Freeport to extend Grasberg contract

The approval will include “the same rights and the same level of legal and fiscal certainty provided under its contract of work,” the company said without elaborating.

Indonesia puts 500,000 tonnes copper concentrate in doubt

Indonesia is not renewing Newmont's copper concentrate export permit according to officials.

Indonesian mining – attractive, not always easy

The Tujuh Bukit project reflects both the attractions and difficulties facing foreign companies working in Indonesia's mining sector.

Freeport-McMoRan cuts spending, production and jobs: shares soar

The miner has responded to deteriorating market conditions by slashing spending and cutting jobs, mostly at its North American operations.

Freeport cancels copper exports from Indonesia as permit expires

The company, which runs the massive Grasberg mine in Papua, has stopped exporting since last month.

The world’s highest grade gold mines

Canadian mine takes top honours but Russia and USA dominate the rankings.

Nat Rothschild ends five-year row by selling stake in Asia Coal Energy Ventures

The deal values the Indonesia-focused coal miner at more than $200 million.

Churchill Mining, Indonesia in talks to solve alleged fraud in coal project licencing

The news comes after Indonesia’s last week decision to drop allegations that the miner had defrauded the state when buying the East Kalimantan coal project.

Copper, nickel prices likely to be hit by El Niño event

The recurring phenomenon — a warming of the Pacific Ocean as part of a complex cycle linking atmosphere and ocean — has in the past affected mine output, triggering price spikes.

Move over Codelco: Freeport plans to be the world’s No.1 copper miner

But China’s slowdown, rising costs and falling prices may get in the way.

Freeport axes dividend by 84% amid weak commodity prices

The copper and gold miner will pay a dividend of 5 cents.

Copper up, FCX down as workers halt production at Grasberg

The copper price recovered from a one-month low on Wednesday to gain 3% on Thursday, as the metal markets reacted to a dovish Fed statement and news out of Indonesia that production has stopped at the Grasberg mine.

Freeport-McMoRan slashes capital spending, to divest stake in Indonesian unit

The U.S. largest miner by market value and revenue has already slashed its capital budget for the year by $2bn and it is ready to make further cuts.