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Freeport seals deal with Indonesia on giant Grasberg copper mine

By: Bloomberg     27th September 2018 Freeport-McMoRan and Indonesia signed an agreement, paving way for the US miner to hand over majority control of the giant Grasberg copper and gold mine to a local State-owned company. Freeport CEO Richard Adkerson and PT Indonesia Asahan Aluminium president director Budi Gunadi Sadikin signed... 

Indonesia plans news conference on $3.9bn Freeport copper mine deal

By: Reuters     27th September 2018 Indonesia's Energy Ministry plans to hold a ceremony on Thursday linked to a $3.9-billion share purchase deal involving Freeport McMoRan, Rio Tinto and state miner Inalum, it said in a document. The exact purpose of the ceremony, taking place at 4 p.m. Jakarta time (09:00 GMT), was unclear. A... 

Indonesia 2018 coal output target now 507Mt

By: Reuters     26th September 2018 Indonesia has increased its 2018 coal production target to around 507-million tonnes from a previous target of 485-million tonnes, the Energy Ministry said on Wednesday, a move that may add to downward pressure on prices for the fuel. Indonesia is the world's top exporter of thermal coal, and... 

Coal exports from top shipper hobbled with miners facing constraints

By: Bloomberg     19th September 2018 Coal exports from Indonesia will be restrained this year, which could frustrate a plan by the government to ease a burgeoning trade deficit while keeping prices elevated, according to an industry group. Producers in the world’s largest shipper face an order backlog of 18 months as they aren’t... 

Nickel producers eye Indonesia to plug into EV battery market

By: Reuters     14th September 2018 Several global metals producers have set their sights on Indonesia's nickel reserves to tap an expected surge in demand for the metal for electric vehicle batteries. Sumitomo Metal Mining (SMM) said on Thursday that it and nickel miner PT Vale Indonesia are conducting a feasibility study to... 

Nickel price to benefit from short supply, strong steel demand through 2019

By: Reuters     12th September 2018 Slower production increases in leading supplier Indonesia and continued growth in stainless steel demand are forecast to extend a supply shortage in the global nickel market, supporting price gains through 2019. Nickel, which recently hit its lowest since December, could climb as high as $16 000... 

Lydian Armenia Invests in Immersive Technologies’ Simulators to Rapidly and Safely Train Operators

By: Creamer Media Reporter      23rd August 2018 In an effort to train and develop a local workforce for a greenfield operation Lydian Armenia invested in simulators with Professional Services from Immersive Technologies. The new mine has a 4km downhill loaded haul with up to 10 percent grade, creating additional need for operators to be... 

Indonesian government asked to recalculate Freeport mine damage

By: Reuters     25th July 2018 Indonesia's parliament has asked the government to recalculate damage to the environment from the giant Grasberg copper mine operated by the local unit of Freeport McMoRan, the Environment Ministry said. A 2017 report by Indonesia's Supreme Audit Agency (BPK) calculated that Freeport's... 

Indonesia to pay $3.85bn for majority stake in Freeport's Grasberg copper mine

By: Reuters     12th July 2018 Indonesia on Thursday struck an agreement with Freeport-McMoRan and Rio Tinto to buy a controlling stake in the world's second-biggest copper mine via a series of transactions valued at $3.85-billion. The heads of agreement establishes a structure for Indonesia, through its state-owned mining... 

Indonesia reaches preliminary deal with Freeport on Grasberg

By: Bloomberg     12th July 2018 Indonesia has struck an “initial agreement” to take majority ownership of Freeport-McMoRan’s giant Grasberg copper and gold mine, President Joko Widodo told reporters in Jakarta on Thursday. State-owned PT Indonesia Asahan Aluminium, also known as Inalum, will end up with a 51% stake,... 

Indonesia extends permit for giant Freeport copper mine as talks continue

By: Reuters     4th July 2018 Indonesia has extended a temporary operating permit for Freeport McMoRan's Grasberg project, the world's second-biggest copper mine, until the end of the month while discussions continue over long-term rights. Freeport's local unit, PT Freeport Indonesia (PTFI), has been given a temporary... 

Indonesia’s Inalum close to acquiring Rio interest in Grasberg copper mine

By: Reuters     1st July 2018 Indonesia's state-owned mining holding company PT Inalum is close to finalising a multi-billion-dollar deal to acquire a majority stake in the giant Grasberg copper mine, government officials said on Saturday. Situated in Indonesia's eastern-most province of Papua, Grasberg, the world's... 

Companies reach shaft sinking milestones

20th April 2018 Multinational mining company Turquoise Hill Resources’ Oyu Tolgoi copper/gold mine in Mongolia, has achieved significant underground development milestones with the completed sinking of two shafts this year. The Oyu Tolgoi, one of the world’s largest new copper/gold mines, is located in the South... 

Forevermark launches in Indonesia

By: Anine Kilian     12th April 2018 The De Beers Group has launched its Forevermark diamond brand in Indonesia. For the market launch, Forevermark will partner with Indonesia’s premier jewellery company, Central Mega Kencana (CMK).  

Noble survival threatened as miner sues to end coal deal

By: Bloomberg     23rd March 2018 Noble Group’s week of woe just got a lot worse as the trader, which has defaulted and seen founder Richard Elman quit the board, was sued by an Indonesian coal miner for more than a quarter of a billion dollars in a case that may jeopardise some of its remaining business. In addition to the sum... 

Indonesian President wants to wrap up talks over purchase of Freeport unit by end-April

By: Reuters     5th March 2018 Indonesia's President Joko Widodo has instructed his administration to complete negotiations over the purchase of a majority stake in Freeport-McMoRan's local unit by the end of April, a Cabinet Minister said on Monday. "According to the President, it should be wrapped up before the end of April,... 

Major quake cuts communications, halts oil and gas operations in Papua New Guinea

By: Reuters     26th February 2018 At least one company began evacuating non-essential personnel after a powerful 7.5 magnitude earthquake hit Papua New Guinea's energy-rich interior on Monday, causing landslides, damaging buildings and closing oil and gas operations. The tremor hit in the rugged, heavily forested Southern... 

Freeport, Amman awaiting green light on 2018 Indonesia copper exports

By: Reuters     15th February 2018 The Indonesian unit of Freeport-McMoRan and fellow copper miner Amman Mineral Nusa Tenggara (AMNT) are waiting for last-minute mining ministry approvals to their applications to extend copper concentrate exports, company officials said. Freeport's export permit for Grasberg, the world's... 

Coal buyers spooked by Indonesia's new shipping rules – association

By: Reuters     8th February 2018 Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would restrict exports to Indonesian vessels, an industry association said on Thursday. Jakarta issued rules in October requiring coal and palm oil... 

Rio Tinto talks loom as a lifeline for Freeport in Indonesia

By: Bloomberg     26th January 2018 When it comes to finally reaching a deal to secure Freeport-McMoRan’s long-term right to keep mining in Indonesia, the ball appears to be firmly in Rio Tinto Group’s court. Over an almost two-hour conference call Thursday, CEO Richard Adkerson made it clear that the company’s efforts to get a... 

Successfully delivering results 15 years after commissioning

25th January 2018 For 25 years, Immersive Technologies has been working with mining companies across the globe to achieve Real Results in operator safety and productivity – these partnerships have for many years driven quantifiable operational improvement. Successfully achieving these results means consistently... 

Virtual Reality Training, WorksiteVR Quest: A Leap Forward in Personnel Induction at Rio Tinto’s Oyu Tolgoi Mine.

25th January 2018 Immersive Technologies developed a series of WorksiteVR Quest www.immersivetechnologies.com virtual reality scenarios designed to facilitate a blended learning model in conjunction with eLearning and practical activities. Mine site inductions are necessary however often dry, boring, and... 

Indonesia lays groundwork for transfer of Grasberg mine to local control

By: Reuters     12th January 2018 Indonesian regional and central government officials on Friday signed an agreement with state holding company PT Inalum that lays the foundation for the transfer of Freeport-McMoRan's giant Grasberg copper mine to local control. Indonesia and Papua have long pushed for greater control over... 

Indonesia hopes to finalise Freeport contract talks by June

By: Reuters     11th January 2018 Indonesia hopes to finalise contract talks with Freeport McMoRan over the Grasberg copper mine by June, although divestment issues are still unresolved, a mining ministry official said on Thursday. Indonesia and Freeport formed a framework agreement in August to transfer the company's rights to... 

Rio Tinto not expected to relinquish interest in Freeport Indonesia until 2022 – govt official

By: Reuters     15th December 2017 Rio Tinto is not expected until 2022 to relinquish its interest in the giant Grasberg copper mine in Indonesia operated by the local unit of Freeport McMoRan, a government official said on Friday. "In 2022 it will automatically convert to a shareholding," the official said, referring to Rio's... 

Rio is said to hold talks with Indonesia on Grasberg mine exit

By: Bloomberg     20th October 2017 Rio Tinto Group has held talks with Indonesian groups, including State-owned PT Indonesia Asahan Aluminium, about a possible exit from its interest in the giant Grasberg copper and gold operation, according to people with knowledge of the matter. Executives at Rio held meetings in recent weeks,... 

Freeport seen facing more battles over world's top gold mine

By: Bloomberg     18th September 2017 The landmark deal that forced Freeport-McMoRan to cede controlling interest in the world’s biggest gold mine and second-largest copper mine to Indonesia may not be the final outcome as both sides prepare for a politically charged fight over the price of the asset and how it will be run, according... 

Weir Minerals expands its unique service network to be even closer to customers around world

7th September 2017 With changing market conditions and improvement expected over the next two years, Weir Minerals is positioning itself even closer to its customers. The company has announced its ambitious growth plans, building upon its leading 130 service centres strategically positioned across the globe.... 

Jakarta bound for Mining 2017 Indonesia

5th September 2017 RCT is joining channel partner Linindo Pacific International (LPI) in Jakarta for Mining Indonesia, from September 13 – 16. The 18th International Mining and Minerals Recovery Exhibition is Asia’s largest mining equipment exhibition; providing a professional platform for the industry to do... 

World's richest mines slipping from hands of multinationals

By: Bloomberg     5th September 2017 Outnumbered and outflanked, Freeport-McMoRan CEO Richard Adkerson made an about-face. Only months before, Adkerson had dismissed the idea of selling a majority stake in the Phoenix-based company’s flagship Indonesian copper-and-gold mine to local investors. But, seated beside government officials... 

Indonesia allows exports from Freeport mine in stop-gap deal

By: Bloomberg     4th April 2017 Indonesia has issued a temporary mining license to Freeport-McMoRan Inc.’s local unit that will allow the company to resume concentrate exports from the world’s second-largest copper mine at Grasberg after a gap of about 12 weeks. The permit is valid for eight months from the time that the... 

Indonesia’s biggest coal miner sees first profit since 2011

By: Bloomberg     9th February 2017 PT Bumi Resources will post its first annual profit in five years as a rally in fuel prices help Asia’s biggest exporter of thermal coal push through a debt restructuring. The company, controlled by the family of Indonesian politician Aburizal Bakrie, had net income of $101.6-million last year,... 

Freeport seeks guarantees from Indonesia amid mining shake-up

By: Reuters     20th January 2017 The Indonesian unit of Freeport-McMoran is seeking fiscal and legal guarantees from the government over mining rules issued last week, a spokesman for the copper mining giant said late on Thursday. The Southeast Asian nation has been pushing miners to build smelters to process ore locally, with... 

Coal’s recovery too good to resist for world’s biggest exporter

By: Bloomberg     13th January 2017 Indonesia will exceed its coal production target for another year as miners cash in after prices recovered from a five-year collapse. The world’s biggest exporter will produce about 489-million metric tons this year, 18% above the government-mandated target, according to energy ministry... 

Copper supply from top world mine threatened as export ban looms

By: Bloomberg     14th December 2016 Exports from the world’s second-largest copper mine, in Indonesia, are under threat as a government ban on overseas concentrate shipments is scheduled to come into force from the middle of January. While ministers are rushing to revise the regulations so miners that have committed to build... 

The ‘weird’ commodity that’s hurting bears as prices double

By: Bloomberg     7th December 2016 Iron-ore’s probably heading for a retreat in 2017 as new mine supply comes online and a surplus builds, according to UBS Group, which acknowledged that the commodity’s recent surge was unexpected and had torpedoed an earlier forecast for a slump this quarter. “It’s just surprised me,” Wayne... 

Indonesia probably won’t allow nickel-ore exports, Minister says

By: Bloomberg     12th October 2016 Indonesia will probably drop a controversial plan to allow exports of low-grade nickel ore and bauxite amid opposition from local smelters and fears that it could upset Chinese investors who’ve poured billions of dollars into the country to build processing plants. 

Glencore sees nickel price rising on global supply shortage

By: Bloomberg     21st September 2016 Glencore, the commodities trader and miner, expects nickel prices to climb through 2018 as demand outstrips supply, assuming Indonesia continues its policy of curbing ore exports and encouraging local processing. “We believe we’ve seen the bottom, both in terms of the actual spot prices... 

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