Indonesia’s state miner agrees on price scheme to acquire Vale unit

Prime Minister Chimed Saikhanbileg said Friday his country should take charge of how long a dispute a expansion of the copper and gold mine has taken.

Despite the overall pessimism, mining CEOs remain just as confident on their own company’s growth as they were in previous years.

Unprecedented meltdown continues as iron ore price suffers worst trading day in more than year on Thursday bringing weekly loss to eye-watering 15%.

The country’s uranium deposits have doubled in the last 15 years to more than 350 across the nation.

As several miners are in the process of shedding non-core operations to survive the current squeeze on the industry.

The news comes on the heels of a report showing that less than half of existing copper projects are really needed to meet current demand.

New report identifies 231 existing copper projects with potential output of nearly 13m tonnes which will more than make up for long-term mine depletion.

3.6% plunge to just above $50 a tonne on Tuesday brings year to date losses to 28%.

The price of gold experienced its longest winning streak since 2012, last week as the price broke through the $1,200 level early Thursday and soared as high as $1,220 as Saudi Arabia launched airstrikes against Iran-backed Shiite militants in Yemen.