Gold price steadies as traders focus on uncertain 2025 rate path
Gold has hit successive records this year and is set to close 2024 more than 25% higher.
Copper miner Freeport Indonesia has restored operations at its huge Grasberg mine in Indonesia’s Papua region, after it was hit by floods, a company spokesperson said on Wednesday.
The company was forced to stop operation at its flagship mine in February after heavy rain and mud flows caused damaged at the facilities.
“At the moment operations at mining and our processing plant have returned to normal after the flood,” spokesperson Katri Krisnati said in a text message.
Chief executive Tony Wenas said in mid-February that a conveyor belt at Freeport’s underground mine was washed away in the floods, disrupting ore transportation.
Freeport-McMoRan Inc has cut its first-quarter copper sales forecast after the disruption at Grasberg.
(By Fransiska Nangoy; Editing by Ed Davies)
Comments