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Contracts Arbitration

  • *Freeport may take Indonesia to arbitration on Grasberg. A higher U.S. currency makes dollar-denominated metals such as copper more expensive for non-U.S. firms, potentially weakening demand, although nervousness over supplies from top producers Chile and Indonesia are expected to support it. "It's all about the disruptions in Chile and Indonesia, but we...

  • JAKARTA, Feb 20- U.S. mining giant Freeport-McMoRan Inc warned on Monday it could take the Indonesian government to arbitration and seek damages over a contractual dispute that has halted operations at the world's second-biggest copper mine. The row, which centres around the sanctity of Freeport's 30- year mining contract, comes as Indonesia seeks to squeeze...

  • JAKARTA, Feb 20- U.S. mining giant Freeport-McMoRan Inc warned on Monday it could take the Indonesian government to arbitration and seek damages over a contractual dispute that has halted operations at the world's second-biggest copper mine. The row, which centers around the sanctity of Freeport's 30- year mining contract, comes as Indonesia seeks to squeeze...

  • JAKARTA, Feb 20- U.S. mining giant Freeport-McMoRan Inc warned on Monday that it could take the Indonesian government to arbitration and seek damages over a contractual dispute that has halted operations at the world's second-biggest copper mine. The row, which centers around the sanctity of Freeport's 30- year mining contract, comes as Indonesia seeks to...

  • JAKARTA, Feb 20- Indonesia's mining minister Ignasius Jonan on Monday said the government can also bring Freeport-McMoRan Inc to arbitration if both sides fail to reach an agreement over a mining contract. Earlier on Monday, Freeport-McMoRan chief executive Richard Adkerson said the company may commence arbitration if it and the government cannot...

  • JAKARTA, Feb 20- Freeport-McMoRan Inc's Indonesian unit said on Monday it hoped to resolve a dispute with the government over its mining contract, but reserved the right to start arbitration against the government and seek damages. Freeport has submitted a notification to Indonesia's mining ministry describing breaches and violations of its contract of...

  • JAKARTA, Feb 20- Freeport-McMoRan Inc's Indonesian unit has submitted a notification to Indonesia's mining ministry describing breaches and violations of its contract of work by the government, the company said on Monday. Freeport said it hopes to resolve the dispute with the government, but it also reserved the right to start arbitration against the...

  • ABU DHABI/ KUALA LUMPUR, Feb 15- Private talks in which Abu Dhabi state fund International Petroleum Investment Co is seeking $6.5 billion from Malaysia's troubled 1 MDB fund have reached deadlock, sources familiar with the negotiations told Reuters. IPIC took its case to the London Court of International Arbitration last June but the two state-owned...

  • SANTIAGO, Feb 7- The main union at BHP Billiton Plc's Escondida copper mine, the world's largest, will probably go on strike as negotiations mediated by the Chilean government are not progressing well, a spokesman said on Tuesday. One tonne of copper was trading at $5,802.50 at 1:45 p.m. local time, up from a morning low of $5,786. "Three days of government mediation,...

  • SANTIAGO, Feb 1- Workers at BHP Billiton's Escondida mine in Chile, the world's biggest copper mine, have voted to reject a company wage offer and go on strike, the union told Reuters in the early hours of Wednesday. The strike is due to begin in 48 hours but will likely be postponed for a five-day government mediation to attempt a resolution. The vote had been expected...

  • NEW YORK, Jan 10- A U.S. judge on Tuesday said Alstom SA may ask an independent accounting firm to resolve a dispute over the French company's $800 million purchase of General Electric Co's train-signaling business, and rejected GE's bid for arbitration. District Judge Jesse Furman in Manhattan said the "plain language" of the November 2014 sales contract...

  • PARIS, Dec 19- French judges found IMF chief Christine Lagarde guilty of negligence on Monday for failing to challenge a state arbitration payout to a business tycoon in 2008 when she was French finance minister, but they did not punish her. In their ruling, the judges did not see negligence in Lagarde's decision to seek an out-of-court settlement with...

  • PARIS, Dec 19- French judges found IMF chief Christine Lagarde guilty of negligence on Monday for failing to challenge a state arbitration payout to a business tycoon in 2008 when she was French finance minister, but it did not punish her. In their ruling, the judges did not see negligence in Lagarde's decision to seek an out-of-court settlement with businessman...

  • PARIS, Dec 19- French judges on Monday found IMF chief Christine Lagarde guilty of negligence for failing to challenge a 400 million euro state arbitration payout to a business tycoon in 2008 when she was French finance minister. Despite the ruling the judges did not hand down any sentence in the case on her decision to allow the rare out-of-court arbitration...

  • *Companies say Burkina Faso blocked development of manganese mine. DAKAR, Dec 5- Three companies belonging to Romanian-Australian businessman Frank Timis's Pan African Minerals Group are seeking $385 million from Burkina Faso via mediation, accusing it of blocking development of one of the world's biggest manganese mines. According to an arbitration...

  • NEW YORK, Nov 28- Massachusetts Democratic Senator Elizabeth Warren on Monday criticized Wells Fargo& Co's decision to require customers affected by its unauthorized accounts scandal to go through arbitration rather than allowing them to sue. The San Francisco- based bank last week asked a U.S. court to uphold contract clauses that mandate arbitration,...

  • NEW YORK, Nov 28- Massachusetts Democratic Senator Elizabeth Warren on Monday criticized Wells Fargo& Co's decision to require customers affected by its unauthorized accounts scandal to go through arbitration rather than allowing them to sue. Warren also used her Facebook post to advocate for a rule proposed by the Consumer Financial Protection Bureau...

  • *Lufthansa makes offer to end strike by pilots. BERLIN, Nov 25- German airline Lufthansa said it had made a new offer to try to break the deadlock in a long-running pay dispute with its pilots who have been on strike since Wednesday. It said it could enter mediation talks with the union on Nov. 29.

  • KINSHASA, Oct 19- Democratic Republic of Congo state miner Gecamines has challenged Freeport McMoRan Inc's sale of its majority stake in the country's Tenke copper mine at the International Court of Arbitration in Paris, Gecamines said on Wednesday. Gecamines Secretary-general Deogratias Ngele told Reuters that Gecamines had asserted a right of first...

  • TORONTO/ MELBOURNE, Oct 14- OceanaGold Corp has lost a claim seeking some $284 million in compensation from El Salvador for failing to issue permits allowing it to dig a gold mine in the Central American country, according to an arbitration decision announced on Friday. The World Bank's International Centre for Settlement of Investment Disputes found in favor...