Indonesia banned shipments of all raw minerals from June 2023, but Freeport and Amman were given a year-long dispensation to export their copper concentrate.

The news comes just months after securing a contract to run the South American country’s largest iron-ore complex.

For Indonesia it's a vindication of its policy of forcing miners to move downstream by banning ore exports from 2020.

The companies expect the merger to be completed in the second half of the year.

Mining represented 28% of Mongolia’s GDP last year and comprised 92% of all exports.

Delays by Jakarta in issuing mining quotas and heavy rains have hurt local supply.

India imported a record 4,172 metric tons of silver during January to April.

Novelis, owned by Indian billionaire Kumar Mangalam Birla's Hindalco Industries, is the world's largest recycler of aluminum.