Gold rejected a 3-1/2 week high on Friday, but was set for its biggest weekly gain in seven as President Barack Obama authorized air strikes in Iraq.» Read More
MELBOURNE, Aug 7- Newmont Mining Corp said on Thursday it is applying for an injunction to get workers back to its Batu Hijau mine as it fights a controversial tax on copper exports that led the company to halt shipments from Indonesia this year.
JAKARTA, July 25- Freeport-McMoRan Inc clinched a deal with the Indonesian government on Friday allowing the miner to resume copper concentrate exports from the country, effectively ending a six-month tax dispute and paving the way for more miners to follow suit.
*Freeport set to strike deal. JAKARTA, July 24- Indonesia has offered mining companies a tax concession to end a six-month dispute that has reduced mineral exports by half a billion dollars a month, pushed up the global price of some metals and led to thousands of layoffs.
JAKARTA, July 24- Indonesia will revise its rules on mineral export taxes next month, paving the way for the country's multi-billion dollar mining industry to resume full production after months of layoffs and stalled output, a senior official said on Thursday.
JAKARTA, July 24- Indonesia's president has said the government will take stern action against Newmont Mining Corp, which has filed for international arbitration over the country's mineral export tax, the country's chief economics minister quoted him as saying.
LAUNCESTON, Australia, July 24- The election of reformist Joko "Jokowi" Widodo as Indonesia's new president has spurred hopes of a rapprochement with global miners and the scaling back of some of the nationalistic resource policies.
JAKARTA, July 24- Indonesia will soon allow U.S. miner Freeport-McMoRan Copper& Gold Inc to resume copper exports, with both sides close to ending a six-month dispute over new mining rules, a senior official said on Thursday. Indonesia introduced a mineral ore export ban and a steep export tax on concentrates in January.
JAKARTA, July 24- Indonesia is expected to issue U.S. mining giant Freeport-McMoRan Copper& Gold with a government permit to resume exporting copper concentrates in one or two weeks, a mining ministry official said on Thursday.
JAKARTA, July 24- Indonesia's top two copper miners signalled they are nearing a breakthrough to allow a restart of concentrate exports, which have been halted for more than six months due to a dispute with the Southeast Asian country over new mining rules.
July 23- Freeport-McMoRan Inc said on Wednesday it expects to "imminently" sign an agreement with Indonesia that would enable it to immediately resume copper concentrate exports which have been halted for more than six months. Indonesia introduced a mineral ore export ban and a steep export tax in January.
JAKARTA, July 22- Indonesia's new president Joko "Jokowi" Widodo said he wants to sit down with mining companies and other parties in a bid to resolve a row over mining policies that has halted $500 million of metal exports a month in Southeast Asia's biggest economy.
JAKARTA, July 18- Indonesia has resumed some exports of metal ore concentrates after two firms gained permits to ship iron ore, zinc and lead, a mining ministry official said, the first shipments of their kind since the country changed its export rules in January.
JAKARTA, July 17- Newmont Mining risks its Indonesian mining licence being taken over by a state-owned firm if the U.S. miner does not resume copper production, the Southeast Asian nation warned, escalating a six-month dispute over export rules.
LONDON, July 17- Copper prices dropped to their lowest level in two weeks on Thursday due to intensifying concerns about the outlook for metal demand from the property sector after a Chinese builder warned of a possible bond default.
*China builder warns it may default on bond. China's economic growth picked up slightly in the second quarter as stimulus measures paid dividends, but analysts said Beijing needs to offer more support to meet its annual growth target as the property market slows. "Yesterday's data was positive for metals demand," said Joel Crane of Morgan Stanley in Melbourne.
JAKARTA, July 17- Indonesia stepped up pressure on Newmont Mining over a six-month old dispute that has halted copper exports, warning it could hand the U.S. miner's licence to a state-owned firm if it does not resume shipments.
JAKARTA, July 17- Indonesia's government may offer Newmont Mining Corp's copper contract to state-owned Aneka Tambang if the U.S. company does not quickly resume production, a government official said on Thursday.
*China builder warns it may default on bond. "Yesterday's data was positive for metals demand," said Joel Crane of Morgan Stanley in Melbourne. The most-traded September copper contract on the Shanghai Futures Exchange slid 1 percent to 50,050 yuan a tonne by 0240 GMT, having slipped to 49,930 yuan earlier- its weakest since July 2.
SYDNEY, July 17- Shanghai copper fell to its lowest in a fortnight on Thursday as jitters over a possible bond default in China's construction sector triggered a round of profit taking. *The most-traded September copper contract on the Shanghai Futures Exchange slid 1 percent to 50,050 yuan a tonne in overnight trade.
TORONTO/ VANCOUVER, July 16- Barrick Gold Corp said on Wednesday its chief executive officer will step down in September and not be replaced, concentrating power in the hands of the miner's new executive chairman, John Thornton. The world's biggest gold miner appointed two co-presidents to help run the company after Jamie Sokalsky's departure as CEO.