Indonesia

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

Cecilia Jamasmie | August 27, 2015
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.

Indonesian mining – attractive, not always easy

Project Monitor | August 28, 2015

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

Freeport cancels copper exports from Indonesia as permit expires

Cecilia Jamasmie | August 12, 2015
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

Vladimir Basov | July 16, 2015
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

Cecilia Jamasmie | June 9, 2015
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

Cecilia Jamasmie | June 8, 2015
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.

Cecilia Jamasmie

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

Cecilia Jamasmie | May 13, 2015
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

Cecilia Jamasmie | April 13, 2015
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

Cecilia Jamasmie | March 24, 2015
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

MINING.com Editor | March 20, 2015
Copper soars after Freeport McMoRan declares force majeure on Grasberg mine

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

Cecilia Jamasmie | January 27, 2015
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.

Battle for control of Asia Resource heats up

Cecilia Jamasmie | January 12, 2015
Battle for control of Asia Resource heats up

Its chairman Bob Kamandanu decided to step down only weeks ahead of a vote proposed by largest shareholder Samin Tan to replace most directors and take the reins at the company.

Apple ‘deeply offended’ by BBC documentary on its suppliers exploiting children

Cecilia Jamasmie | December 19, 2014
How Apple’s gold watch will keep the bull market ticking

The investigative reporting piece exposed extremely poor working conditions in factories making Apple products in China and Indonesia.

Home Alone, Mystic Pizza producer wants to make Bre-X movie

Frik Els | December 10, 2014
Home Alone, Mystic Pizza producer wants to make Bre-X movie

Hollywood mogul has already attracted investment from miners to film industry's biggest scandal.

Nickel close to month-high as Indonesia keeps ore ban

Cecilia Jamasmie | November 19, 2014
Western Areas cosmos Glencore

The country effectively halted all but processed metal shipments in January in an effort to force miners to build smelters.

Freeport-McMoRan's profit down 32% amid lower copper, gold prices

Cecilia Jamasmie | October 28, 2014
Freeport-McMoRan's profit down 32% amid lower copper, gold prices

The U.S. largest miner by market value and revenue is also dealing with a strike threat at its Indonesia's Grasberg copper and gold mine, which recently resumed operations.

Indonesia’s Choice: Coal vs. Environment

Epoch Times | October 19, 2014

Indonesia cannot build power stations fast enough. And neither can most of its Asian neighbours.

Vale to ditch 20% of its nickel assets in Indonesia

Cecilia Jamasmie | October 17, 2014
Vale to ditch 20% of its nickel assets in Indonesia

The agreement signed with Indonesia’s outgoing government also means higher royalties to be paid by the firm.

Open the door

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.

18 killed after illegal gold mine collapses in remote central Indonesia, officials say

ABC Radio Australia | October 5, 2014

Eighteen people have been killed after an illegal gold mine collapses in remote central Indonesia, a local search and rescue official says.

Blockade lifted at Freeport Grasberg mine in Indonesia

Cecilia Jamasmie | October 3, 2014
Blockade lifted at Freeport Grasberg mine in Indonesia

Operations, however, won’t resume until at least Oct. 7.

Operations at Freeport Grasberg copper mine remain blocked

Cecilia Jamasmie | October 2, 2014
Operations at Freeport Grasberg copper mine remained blocked

Protesters are demanding management to review safety conditions following a fatal accident on Sept. 27.

Newmont ships first copper from Indonesia in eight months

Cecilia Jamasmie | September 30, 2014
Newmont ships first copper from Indonesia in eight months

30,000 tonnes of copper concentrate were sent out Monday.

Open-pit mining suspended after four killed at Freeport Indonesia's copper mine

Reuters | September 28, 2014

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.

Newmont gets permit to restart Indonesia copper exports this week

Cecilia Jamasmie | September 22, 2014
Newmont gets permit to restart Indonesia copper exports this week

The announcement marks the end of a long-dragged dispute between the Colorado-based miner and Southeast Asian nation.

Newmont, Indonesia make peace: copper exports may resume this week

Cecilia Jamasmie | September 2, 2014
Newmont, Indonesia make peace: copper exports may resume this week

Both sides are closer than ever to ending an eight-month tax dispute over exports of the industrial metal's concentrates.

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