About 9,000 staff at Freeport McMoRan's huge gold and copper mine in eastern Indonesia began a month-long strike Thursday to demand better pay, as hundreds of police watched over them.
Chinese business leaders have warned of an investment strike over a decision by Treasurer Wayne Swan to impose a two-stage foreign approval process for resource exploration and mining.
10-SEP-2011 Intellasia | Jakarta Globe Free newsletter - click here In a move expected to give eastern Indonesia an economic boost, a French mining group plans to invest in a nickel mining project in North Malaku. "Eramet will have spent around $450
Only several specific enterprises and credit institutions designated by the State Bank of Vietnam (SBV) are entitled for gold trading. Earlier on 24 February 20011, the government asserted strong determination to closely monitor gold trading.
Thousands of workers at one of the world’s biggest gold and copper mines started returning to work Wednesday, ending a nearly two-week strike that brought operations to a standstill.
Union chief Sudiro, who goes by only one name, said the decision was made after Freeport-McMoRan’s management agreed to reinstate six fired labor leaders and reopen negotiations about wages and benefits on July 20.
A source from Ministry of Finance said that the agency is drafting an export tariff frame on coal, accordingly the expected tariff may be raised to 20 percent instead of current 15 percent. This is seen as one of measures to control and curb export of material coal while the resource is running out.
