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.
Tin Mining News
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.
China's metals trade figures were once a spotlight on the state of the world's manufacturing engine and price driver.
The country's ultimate objective is to have its own space mining agency by the end of the year.
The bill, approved by a vast majority, defines the conditions companies must fulfill to get a licence for launching a space mining mission.
NFEx says in talks with several clearing houses
Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.
More supply will likely drag prices lower, as the metal already touched a one-year low of $8,680 per tonne on the London Metal Exchange last week and is down more than 10% this year.
If NASA is successful in its mission to 16 Psyche, one of the most massive asteroids found between the orbits of Mars and Jupiter, humans will have a first ever chance of exploring a world made of iron, not rock or ice.
New World Bank outlook for commodities predict 32% price jump for zinc and 18% for copper and lead, but outlook for nickel price in 2017 is murky.
The Indonesian unit is now in the process of obtaining a full export permit.
Tungsten, tin, tantalum and gold are now also being illegally extracted and traded at sites under the control of armed groups in countries including Myanmar and Colombia.
The new law, which will come into force in 2021, requires importers to ensure their business do not contribute to armed conflicts.
Successful water treatment trials could see final permits to restart Cornwall mine issued before the end of the summer says Vancouver junior Strongbow.
The Gochagar Lake project, until now property of Diamond Hunter, consists of four claims covering 3,759 hectares located in northern Saskatchewan.
Majors and juniors swap roles in $7 billion a year mining exploration sector
The firm has not been able to ship copper from the mine in over a month due to a ban on concentrate exports that kicked in on January 12.
A leaked White House memo, which outlines the suspension of a portion of the Dodd-Frank rule on ‘conflict minerals’, will exacerbate already high levels of violence in DR Congo.
Miner says that each month of delay in obtaining approval to export means production would be reduced by 70 million pounds of copper and 70,000 ounces of gold.
The US Securities and Exchange Commission is reconsidering the rule, which requires companies to trace and report whether their products contain minerals from a war-torn part of Africa.
Seaborne coal, tin prices are the big exceptions.
New report forecasts 20% improvement in nickel price by end-2017 – copper, lead, zinc, gold, silver to retreat.
Government is considering to extend the miner a temporary permit, valid for up to six months, which would pave the way for Freeport to resume exports from Grasberg.
"The run-up in base metal prices, particularly after the US Presidential election, may be getting ahead of fundamentals."
Far-reaching new mining rules ease a controversial ban on exports of nickel ore and bauxite.