Indonesia state-owned holding Asahan Aluminum, or Inalum, would grab a 41.64% stake in the local unit of Freeport, which increases its current ownership in it to 51%.
Indonesia Mining News
Increased supply from Indonesia and subdued demand from China are the main drivers behind the downward trend.
The permit was issued to allow the miner to continue exporting copper concentrate while company representatives and government officials go on with the discussions around Freeport’s future operations.
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After pumping billions into the Indonesian mine for almost 25 years, Rio might be able to see a decent return as the country’s government plans to acquire the miner’s 40% stake in the coveted operation.
The fire broke out at Amamapare port facilities, where copper concentrate from giant Grasberg copper mine is processed before being loaded to ship.
The latest violent episode and temporary closure had no impact on production at the world’s second-biggest copper mine.
The Indonesian unit of Freeport-McMoRan Inc has temporarily shut the main supply route to its Papua mine after a shooting incident.
Indonesia's military said on Friday it was prepared to take tough measures against rebels who have threatened to "destroy" mining operations of Freeport-McMoRan Inc in the eastern province of Papua in their struggle for independence.
Armed separatists have occupied five villages in Indonesia’s Papua province, threatening to disrupt Freeport-McMoRan Inc’s giant Grasberg copper mine, which has already been hit this year by labor unrest and a dispute over operating rights.
Global deficit in nickel supply to drop 53,000 tonnes in 2018 from 98,000 tonnes this year, partly due to recovery in Chinese production growth.
Gold producer says its total gold output from mines fell to 522,917 oz in the quarter ended Sept. 30 from 615,498 oz in the same period a year earlier.
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.
Freeport agreed in August to divest a 51% stake in Grasberg to local interests in return for full operational control until 2041 plus fiscal and legal guarantees, but a final deal has still to be reached.
The ministry resumed exports of unprocessed minerals earlier this year and had started to roll out exports quotas in April.
The world's second-largest publicly traded copper company has issues with the proposed divestment plan, including valuation, timing and structure.
Indonesia’s mining minister said on Thursday that Freeport McMoRan Inc could request an extension of six months to renegotiate rights to Grasberg.
New laws and a crackdown on mining firms in Tanzania has slowed fresh investment in what has long been seen as one of Africa's brightest mining prospects
The company has greed to reduce its stake in the Grasberg mine to 49% in exchange for licenses to operate the massive copper and gold pit until 2041.
Copper above $3.00 after former workers torch dozens of buildings, vehicles at Freeport's Indonesia operations blocking access to world number two mine.
Flash floods have left one worker missing and caused extensive damage to a power plant at the miner's operations in the eastern-most province of Papua.
The new mill will be used in the new line 3 of the cement plant in Hub Chowki in Pakistan, in the Lasbela/Baluchistan district, 20 km north of Karachi. The mills will grind OPC cement with a fineness of 3,300
Some issues still need to be resolved before the U.S. miner gets a new operating permit for its huge copper mine.
The indefinite labour action involves 56 unions, which are protesting a government’s proposed reform they see as "anti-workers".