Freeport Indonesia’s Jan-May copper, gold output below target

The firm expects production at Ferrobamba, one of the four deposits that make up Las Bambas project, to start early next year.

The smart money is waiting for fire sale prices before jumping into metals and mining. Or worse; has simply lost interest in the sector.

The firm became the first major mining company to openly accept the toll that slumping commodity prices are taking on the global industry.

The highly anticipated independent expert panel report will determine the cause of the dam failure and is expected to lead to new safety standards for the entire Canadian mining industry.

The U.S. largest miner by market value and revenue has already slashed its capital budget for the year by $2bn and it is ready to make further cuts.

The central Africa nation may also lose its position as the continent’s top copper producer.

Some crew will be assigned to care and maintenance.

Documents obtained and verified by The Australian, show that Rio Tinto offered Mongolia to forsake a “net smelter return” of 2% cent of the project’s revenue.

Newly elected President Edgar Lungu wants to keep mining royalties at 20%, as opposed to the 6% companies were paying a month ago.