The "Fast Money" traders share their final trades of the day.» Read More
*Freeport says tax breaches contract; govt wants firmer smelter commitments. Freeport and fellow U.S. miner Newmont Mining Corp have refused to pay an escalating export tax introduced on Jan. 12 as part of package of new mining rules aimed at forcing miners to build smelters and process raw materials in Indonesia.
JAKARTA, March 11- U.S. mining giant Freeport-McMoRan Copper and Gold Inc has cut production at its Indonesian copper and gold mine by around 60 percent, a union official told Reuters on Tuesday, two months after halting exports over a dispute with the government on a new export tax.
LONDON, March 4- Glencore Xstrata posted forecast-beating core profit in the first set of full annual results since the commodities group was formed, helped by a strong performance from its trading arm offsetting a decline at its mining division.
JAKARTA, March 3- Indonesia's mines ministry could recommend as early as this week that Freeport-McMoRan Copper& Gold receive a reprieve from a controversial tax that has halted copper exports for more than two months, a government official told Reuters.
JAKARTA, Feb 28- Freeport-McMoRan Copper& Gold said its Indonesian unit may need to declare force majeure on copper concentrate sales if a dispute with the government over export taxes drags on for a prolonged period.
SINGAPORE, Feb 25- Gold ticked lower on Tuesday but held near its strongest level in four months on concerns over economic growth in China and political uncertainty over Ukraine after acting President Oleksander Turchinov warned the country was close to default.
*The move is a potential victory for Freeport, Newmont. *Minister: Freeport to resume copper exports in near future. A senior government official said Freeport would resume exports of copper concentrate in the "near future".
*Indonesia will consider easing export tax after Freeport builds smelter-minister. JAKARTA, Feb 24- U.S. miner Freeport-McMoRan Copper& Gold is expected to resume copper concentrate exports from Indonesia in the "near future", a minister said, after halting shipments due to a dispute over new mining rules imposed last month.
*Copper producers Freeport and Newmont in dispute with govt. The tax ratchets up sharply before an outright export ban from 2017 and Freeport and Newmont Mining Corp, which produce 97 percent of Indonesia's copper, have halted all exports and are locked in talks with the government because they say the tax breaches their contracts.
Even if Thursday's economic data comes up punk, markets may just write it off to bad weather.
Some of Tuesday's midday movers:
*Copper stocks in LME warehouses drop further to 311,225 T. LONDON, Feb 5- Copper prices dipped on Wednesday, resuming a downtrend after a brief bounce, as investors worried about weak demand in China and about the adjustment of the Chinese market to a drop in London prices when it reopens on Friday.
*Copper stocks in LME warehouses drop further to 311,225 T. *China markets closed until Friday. LONDON, Feb 5- Copper prices rose on Wednesday, rebounding from two-month lows hit in the previous session, boosted by encouraging factory orders data from the United States overnight and limited short-term availability of the metal in the physical market.
SINGAPORE, Feb 5- Gold dipped for a second session on Wednesday as a modest rebound in equities dampened safe-haven interest in the metal and physical purchases in top buyer Asia were quiet. *Spot gold slipped 0.1 percent to $1,252.91 an ounce by 0024 GMT, after dropping 0.2 percent on Tuesday.
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Feb 4- Newmont Mining Corp expects to be able to continue with normal operations at its Batu Hijua copper-gold mine in Indonesia for the next couple of months while it tries to resolve an export impasse with the government, Chief Executive Gary Goldberg said.
JAKARTA, Feb 4- Indonesia's mines minister, Jero Wacik, has been on an unusual mission in recent months: finding a way out of implementing his own government's policy. A smiling, well-rehearsed politician, Wacik was earlier tourism minister, pushing the charms of his native Bali island and other Indonesian attractions.
SYDNEY, Feb 3- London copper drifted on Monday towards two month lows hit the previous session, with slowing factory growth in China darkening the demand outlook for the metal. *China's stock, bond, foreign exchange and commodity futures markets are closed from Jan. 31 through Feb. 6 for the Lunar New Year holiday.
Jan 31- Gold and copper producer Newmont Mining Corp might curtail operations in Indonesia unless its dispute with the government over a new export tax is resolved in the next couple months, Chief Executive Gary Goldberg said on Friday.
JAKARTA, Jan 28- Indonesia will issue export quotas for processed minerals and concentrates soon, a senior mines ministry official said, the latest policy step tied to controversial government efforts to take greater control over shipments of its natural resources.