The agreement signed with Indonesia’s outgoing government also means higher royalties to be paid by the firm.
Indonesia cannot build power stations fast enough. And neither can most of its Asian neighbours.
Nickel is present in over 3000 different alloys that are used in over 300,000 products for consumer, industrial, military, transport/aerospace, marine and architectural applications.
Eighteen people have been killed after an illegal gold mine collapses in remote central Indonesia, a local search and rescue official says.
Operations, however, won’t resume until at least Oct. 7.
Protesters are demanding management to review safety conditions following a fatal accident on Sept. 27.
30,000 tonnes of copper concentrate were sent out Monday.
Freeport-McMoRan Inc temporarily suspended open-pit mining at its Indonesian mine on Saturday, a company statement said, after four people died in an accident at one of the world's biggest copper mines.
The announcement marks the end of a long-dragged dispute between the Colorado-based miner and Southeast Asian nation.
Both sides are closer than ever to ending an eight-month tax dispute over exports of the industrial metal's concentrates.
Operations at the miner's Batu Hijau copper and gold mine to resume soon.
Copper price down more than 1% after gauge of China's services economy drops to near 9-year low and restart of Indonesian exports ease supply fears.
Exports for the year could reach 756,000 tonnes after US company agrees to build smelter and sell a stake in subsidiary to locals.
No signs of production slowdown in major coal-exporting countries.
Indonesia's top copper miner hopes next month to ramp up production and restart concentrate shipments from Grasberg, one of the world's largest copper mines.
About $500 million of exports a month have been halted in Southeast Asia's biggest economy because of the minerals dispute.
The shipments, the first of their kind in six months, were allowed after Sebuku Iron Lateritic Ores (SILO) and Lumbung Mineral Sentosa agreed to pay the new 20% tax.
Authorities are is planning to send a letter to the Colorado-based miner saying that it has defaulted on its contract and, therefore, is “negligent."
The transaction would be worth over $2 billion.
Newmont, instead, was called to return to the negotiation table or face the consequences.
Sale of Candelaria mine could raise several billion dollars, according to people familiar with the matter quoted by WSJ.com.
The scandal-struck Indonesian coal miner formerly known as Bumi, did not re-elect Chris Walton at the annual shareholder meeting Friday.
Philippines and New Caledonia can't supply enough laterite nickel ore to China.
The parts agreed on basic framework for contract renegotiations for Grasberg mine.
The company, until recently known as Bumi, has named independent director Amir Sambodo as Nick von Schirnding’s successor.
Macquarie says sub-$65 unlikely because first Indonesian and then Australian producers will drop out of the market around these levels.
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