Mining key to transition to green economy

Armed separatists have occupied five villages in Indonesia’s Papua province, threatening to disrupt Freeport-McMoRan Inc’s giant Grasberg copper mine, which has already been hit this year by labor unrest and a dispute over operating rights.

It’s been a year since President Donald Trump’s election and his pledges to transform the energy markets haven’t exactly come to pass.

Glencore has extended a lockout of 190 workers at Oaky North mine in eastern Australia for a further two weeks.

Aggregate market cap of the top 100 junior mining companies was up 7% to $12.2 billion, a level not seen since 2010, but the group significantly underperformed the Venture Exchange as a whole.

The buzzword in the Brussels energy and climate bubble is 450, a number that is dividing European Union lawmakers and making coal-dependent Poland fume over upcoming reforms to the world’s biggest carbon market.

Company lost $69 million in its latest quarter as it more than doubled its production compared with a year ago.

Although there have been small gains in coal output and hiring this year, driven by foreign demand, production levels remain near lows hit in 1978.

In third-quarter production report, Glencore lowered its output guidance for copper, zinc and coal but said full-year earnings would not suffer.

Pourbaix replaces Brian Ferguson, who announced his retirement earlier this year following Cenovus’ $17.7 billion acquisition of oil sands and natural gas assets from ConocoPhillips.