Copper supply woes on show with No. 2 mine output to halve
Production at Grasberg in Indonesia will fall by more than half next year as its giant pits transition to underground operations.
Production at Grasberg in Indonesia will fall by more than half next year as its giant pits transition to underground operations.
The U.S. Environmental Protection Agency says it is still reviewing about 380 claims for lost income, fallen property values and other losses.
By value, mineral exports are expected to increase to $30 billion from $28.37 billion last year.
BHP said final wage offer rejected on Thursday was "best collective labor contract at a private mine in the country."
Company said first-half profit grew 12% to $4.42 billion, below the $4.53 billion forecast by analysts.
Euler Hermes expects imports to grow at a +8% annual rate in this region. Should suppliers lengthen their payment term by 30 days, this would free about USD 45bn by 2020. The parallel development of trade finance is key to seize this great opportunity for the African continent.
The Canadian precious metals miner logged a $10.6-million net loss for the first half of the year following a $49-million investment in its Gold Bar, Black Fox and Los Azules projects during the period.
BHP Billiton last week agreed to sell its U.S. shale oil and gas assets for $10.5 billion, while Rio Tinto appears on track to exit its troubled investment in the giant Grasberg copper and gold mine in Indonesia for about $3.5 billion.
Union members have until Wednesday to finish voting on the company's proposal.
The Permian shale play in West Texas is once again booming with drilling and is full of oil field workers, some of which are abusing drugs and alcohol.