JAKARTA, May 25- Between 35 and 40 percent of workers at Freeport McMoRan Copper& Gold Inc's Indonesian unit returned to work on Saturday to carry out maintenance work after a tunnel collapse that killed 28 people, a union official said.
Jeffrey Christian, Founder & Managing Director, CPM Group says that gold could move towards the $1700-level, if it does not break past the $1750 handle.
Pravin Gordham, Finance Minister of South Africa explains why the revised GDP target of 2.7% this year has nothing to do with the recent labor issues. He assures CNBC the government has a plan to resolve the unrest.
Mike Harrowell, Senior Resources Analyst, BBY says that the QE boost to commodity prices does not reflect demand concerns and that base metals prices could be trading lower by end-December.
With tensions once again rising in South Africas mining sector, investment bank Merrill Lynch has cut its weighting to the countrys stock market and mining sector.
The price of gold is at an 11 month high and has rallied 14 percent since the start of the year but analysts have told CNBC that it’s set to go even higher tipping the $2,000 per ounce mark.
Qatar Prime Minister Sheikh Hamad Bin Jassim Bin Jabr al-Thani said in a CNBC interview he’s worried about what central bank money printing will mean for the value of the two major global currencies.
Indonesia may miss its goal of becoming one of the world’s 10 largest economies by 2025, as it is still far from growing at the 7 to 9 percent annual rate needed to meet the target, according to the Organization for Economic Co-operation and Development (OECD).
The $90 billion merger of Glencore and Xstrata is on shaky ground as the two sides struggle to come to terms over the makeup of the combined management team, the New York Times reports.
While China may currently have the highest number of high net worth individuals in Asia another much smaller regional economy, Indonesia, is expected to see the fastest growth in its millionaire population, according to a report by Swiss private bank Julius Baer.