Indonesia to impose tax, curbs on raw metal exports

Indonesia will impose a new export tax on metal ores and prohibit the shipment of raw minerals unless miners submit plans to build smelters, in a decision likely to shake up mining in one of the world's major metals exporters. The tax is an...

Indonesia to impose 20% tax on raw metal exports

Indonesia's government will impose an average 20% duty on 14 mineral ore exports including copper, gold and nickel from Sunday, slightly lower than expected but enough to hurt miners in one of the world's major metals exporters. The tax, which...

Company Announcement: Views from the Trading Floor - Featuring San Leon- Bahamas Petroleum - Highland Gold

Saints & Sinners 
 
Oil & Gas San Leon (LON:SLE) continued on its rich vein of form again today, pushing another 4% to 13p in early trading. Volumes over the past few sessions have been huge, as investors continue to back the story. Possibly...

Freeport replaces CEO at Indonesian unit after strike

Freeport-McMoRan Copper & Gold's will appoint a new chief executive at its Indonesian unit, the Arizona-based miner said on Friday, as it looks to turn the page after it made an agreement last month to end a crippling three-month strike. Rozik...

China copper smelters, BHP set 2012 copper contracts at $60/6 cents

China's copper smelters and global miner BHP Billiton have settled 2012 term copper concentrate treatment and refining charges at $60 a tonne and 6 US cents a pound, trade and smelter sources said on Wednesday. This is higher than the benchmark...

Peru region gives Freeport, workers wage deadline

A one-day protest by communities in the northern region of Cajamarca on Wednesday against Newmont's $4.8-billion Conga gold project was peaceful and did not hurt mining operations, the government and the company said. Local political leaders in...

Africa rich with mineral resources, projects prosper

Africa is a source of various mineral resources, most of which have yet to be exploited. As a result, the continent has attracted the attention of international mining companies that seek to take advantage of this abundant wealth.

Freeport more than doubles Q2 earnings on higher output, prices

Freeport-McMoRan Copper & Gold increased second-quarter profit by 111%, after copper and gold prices rose, costs declined and the company produced and sold more of both metals. Freeport earned $1.37-billion in the quarter, compared with...

Freeport shares rise after beating Q1 targets, to pay extra dividend

Shares in Freeport-McMoRan Copper & Gold rose 5% on Wednesday morning, after the company said it sold more copper, gold and molybdenum than expected in the first quarter and declared a supplemental dividend. The group, which has mines in North and...

Freeport says Mitsubishi smelter halt won't have significant effect

Freeport-McMoRan Copper & Gold does not expect a significant effect on shipments after Japan's Mitsubishi Materials said it will stop operations at a copper smelter following a devastating earthquake and tsunami. “We have been notified that...

DRC-focused CuCo Resources eyes TSX listing this year

Privately-held CuCo Resources is looking at listing on the TSX later this year, CEO Malik Talib said in a telephone interview on Tuesday. The company, which has assets in the Katanga province of the Democratic Republic of Congo, will likely raise...

Freeport sees 'limited' opportunities for M&A

Top publicly-traded copper miner Freeport-McMoRan Copper & Gold is prepared to act on acquisition opportunities that arise, but see “very limited” prospects for corporate activity, CEO Richard Adkerson said on Monday. The company is focused...