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.
Deal will allow North River to fast-track the development of its flagship lead and zinc mine.
Sale of Candelaria mine could raise several billion dollars, according to people familiar with the matter quoted by WSJ.com.
The copper price has defied all predictions of a steep decline this year and is now honing in on 4-month high after the longest rally since 2005.
The parts agreed on basic framework for contract renegotiations for Grasberg mine.
Orbiting spacecraft could be refuelled with water taken from asteroids—but some experts doubt the economics.
This scarce industrial metal has characteristics similar to lead, but is non-toxic.
The Kamoa and Kipushi projects make up 83% of the Ivanhoe's net asset value.
Restart of past-producing zinc-lead-copper-silver-gold mine in New Brunswick now set for second quarter next year.
The two used to be joined at the hip, but now one or the other has lost touch with reality.
The South American nation lost the title to China in 2012.
The price of gold may be enjoying a double-digit increase so far this year and some equities may even have doubled their value, but Jeff Killeen of CIBC World Markets says it's not time to jump into metals with both feet. Be selective, he says.
Combined estimate investment exceeds $13 billion, says the government.
The bank's ties to Iran date back to the 1970’s.
Last year alone there were 149 conflicts involving mines in the country.
The steep, last minute metal concentrate tax slapped on copper miners has brought exports to a standstill.
Top exporter Indonesia's ban on ore shipments largely off-set by record global stockpiles of ore and metal and rising mine output.
Against expectations of a last minute climbdown by authorities, Indonesia's nickel, bauxite and tin ore ban went into effect Sunday.
But bubbly stock markets could see investors return to the sector as 2013's plunge in commodity prices make metals and minerals look cheap.
The potential is appealing. Peru holds13% of the world's copper reserves, 4% of gold, 22% of silver, 7.6% of zinc, 9% of lead and 6% of tin reserves.
Deutsche, Europe's number two bank, has joined the US exodus and is getting out commodities trading, although it is keeping precious metals in its portfolio.
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