World's largest listed copper miner said Indonesian export ban will force it to slash spending and operate its giant Grasberg operations at 40% capacity.
Shares were up more than 45% on Tuesday mid-morning after it announced that joint venture partner Rio Tinto will start drilling for uranium at the company's asset in Saskatchewan.
State forecaster of Chile, responsible for 28% of global copper output, sees US demand bouncing back helping to create supply shortage this year and next.
Jones will leave his current position at the exchange and serve as an adviser until the end of this year, according to a statement from Hong Kong Exchanges & Clearing Ltd, which owns the London bourse.
