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 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.
Tin, tantalum and tungsten mines used to generate $185 million a year for armed groups. Now, about two-thirds of those operations are part of peaceful supply chains, study shows.
Orbiting spacecraft could be refuelled with water taken from asteroids—but some experts doubt the economics.
The two used to be joined at the hip, but now one or the other has lost touch with reality.
The proposed law sets up a system of self-certification for importers of tin, tantalum, tungsten, and gold.
Proposal includes gold, tungsten, tantalum and tin, with the hope of force importers to classify those metals as coming from areas free of conflict.
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.
China’s yuan has overtaken the euro to become the second-most used currency in trade finance.
In an effort to expose and monitor these mining operations, a Belgian research group has been creating the first maps of eastern DRC's artisanal mining areas.
Investors eager to get the new industry off the ground willing to finance projects that can secure the availability of the key element.
The scientists have been working at the one-of-a-kind laboratory located at the bottom of what was once North America's deepest gold mine.
Nickel price up 5% in October as Indonesia stays firm on 2014 unprocessed mineral and metal export ban.
First set of key findings to be released next week.
Less state involvement, possible lifting of ban on ore exports and smoother licensing process envisaged for South Asian nation.
Tin and tantalum come from 'conflict-free' sources in the Democratic Republic of Congo.
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