Indonesia expects 2018 deal with Freeport on giant copper mine

Some buyers have said they are shunning Rusal's metal, while others are securing price discounts at the same time as the industry negotiates supply deals for 2023.

In a presentation at Perumin, finance minister Kurt Burneo reiterated the policy priorities that have endeared him to the industry, such as maintaining tax rates, offering fiscal benefits and cutting red-tape in a bid to attract investments.

Miner will transfer its copper assets in the country to Salobo Metais SA and its nickel assets to a new venture it will form.

The discovery, known as the Umburana System, has been traced for 5 km so far and is open in all directions.

Glencore put zinc sulphide operations at the Portovesme plant on care and maintenance in November 2021, but continued production of zinc recycling and lead.

Reuters sources say the exchange was planning to discuss banning new deliveries of Russian metal so its warehouses cannot be used to offload hard-to-sell stock.

Shares of Adaro Minerals Indonesia have surged more than six times the second-best stock on the MSCI Asia Pacific Index.

The facility is expected to produce at least 1.5 million tonnes of copper over about 19 years.

Incorporating the updated reserve base, the Copper Mountain mine plan has been extended to 32 years with the 65,000 t/d expansion commencing in 2028.