Tension between Beijing and Canberra has grown in recent months over issues of cyber security and China's influence in Pacific island nations.
Indonesia Mining News
Indonesia forecast copper concentrate exports to drop to 200,000 tonnes in 2019 from about 1.2 million tonnes last year.
Maintenance and slower ramp-up last year caused a reduction in copper cathode output by 26,000 tonnes.
The proposed tariff, would fall to 18% in the second year and 14% in the third year.
"Current price moves are a knee jerk reaction to the Vale news," said BMO Capital Markets analyst Kash Kamal.
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This project refines the key raw material for the preparation of ternary power batteries from the laterite nickel ore – battery-grade nickel-cobalt raw materials.
Concentrate shipments from Indonesia's Grasberg mine, will drop because of a lag in output while operations shift from open pit to underground mining.
Global demand for nickel is seen increasing by 3.4 percent in 2019 from this year to 2.339 million tonnes.
The permit given to PT Freeport Indonesia is valid up to 2031, and could be extended another ten years.
The government aims to issue a new mining permit for Grasberg - which requires the environmental permit issues to be settled - before the end of the year.
Inalum was proposing to sell a 10% stake in PT Freeport Indonesia to Papua for $819 million.
The deal is to supply 15 million tonnes of nickel ore over a period of five to eight years, beginning March 2020.
"The aim of this share purchase is so that the company can have full control over its subsidiaries owned indirectly by Kangaroo Resources."
Looking at its resources, Indonesia will become the main player in lithium batteries.
The smelter went into maintenance that was scheduled for about 30 days, but has been extended due to a lack of oxygen supply from a neighboring oxygen plant.
For Indonesian President Joko Widodo, seeking reelection next year, getting a majority stake in the mine for Indonesia would be a political boon.
Due to better coal economics and relatively unsupportive renewable energy policies, we expect coal to still dominate the fuel mix at more than 60% from now until 2027.
The outlook for coal depends basically on the growth of electricity and steel production in Asia.
The assets sold consist of four cement plants, 33 ready-mix plants and two aggregate quarries.
The deal came amid choppy global markets, rocked by trade concerns and slowing economic growth in Asia - including Indonesia.
Indonesia's South Sumatra province plans to ban coal transporters from using public roads from Nov. 8
The plants haven’t been running at full capacity after the court ruled last year that a change in regulations overseas couldn’t be a ground for increasing power prices.
Freeport-McMoRan CEO Richard Adkerson says reduced spending on large-scale projects will add to the impending supply gap on global copper markets.