Copper market’s biggest whale fuels speculation of a major shift
The world’s single biggest buyer of copper, State Grid Corp. of China, has slowed its purchases of copper wire this year.
A joint venture between Indonesian state miners Aneka Tambang (Antam) and Inalum could terminate a contract to build an alumina smelter with its engineering, procurement and construction contractor, an official said on Tuesday, due to lack of progress.
The contract for its $831.5 million smelter could be scrapped if the contractor had no agreement by October, the director of state mining holding firm Mining Industry Indonesia (MIND ID), Danny Praditya, told a parliamentary hearing.
(By Bernadette Christina; Editing by Martin Petty)
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