Ivanhoe expects first copper at Kakula in less than a year

The company's action on spending follows sharp falls across commodity prices this year.

The company, which runs the massive Grasberg mine in Papua, has stopped exporting since last month.

But gold is, so far, profiting from the situation, heading for its longest winning streak in three months.

Bellwether copper price falls to fresh six-year low after China devalues currency, but new report says market reaction is a knee-jerk one.

The decision of the People's Bank of China (PBOC) to devalue the yuan by 1.9% sent most mining stocks and commodities down the slippery slope.

Stock markets in Canada and the United States fell sharply on the news that China had allowed the yuan to drop 2%.

Simon Moores, managing director of London-based Benchmark Mineral Intelligence, and the firm's analyst, Andrew Miller, provide insight into minerals that they say need to shed their labels as traditional commodities and embrace their future as niche, raw-material solutions for a growing list of technology manufacturers.

Commodity markets change cyclically, and there is money to be made buying undervalued precious metals and energy juniors, including the handful of companies Palmer names in this interview with The Gold Report.

The mining giant is watching every single expense, including those related to safety equipment.