Freeport-McMoRan Inc
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RANKED: World’s top 10 biggest gold mines
Despite being adversely affected by the Covid-19 pandemic, global gold production still surpassed 100 million ounces in 2020 and is expected to bounce back this year as economies continue to recover and miners ramp up operations. To see which mining…
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Franco-Nevada posts record revenues, income
With most major mining assets back up and running after COVID-related stoppages earlier this year, and amidst strong commodity prices, royalty company Franco-Nevada has reported record third-quarter financial results. These include new records in revenues recorded, at US$279.8 million, adjusted…
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Commentary: Despite price rise, copper at historic low against gold
According to the popular adage, copper has a doctorate in economics, with an ability to predict turning points in the global economy. This proverb stems from the metal’s use in widespread applications, from power generation and electricity distribution to iPhones.…
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COVID-19: Coronavirus impacts spread across mining sector
As the world seemingly moves into lockdown to halt the transmission of the novel COVID-19 virus, the uncertainty and restrictions on movement are taking a toll on markets and commodities. After initially benefiting from uncertainty around the virus and peaking…
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SOCIAL RESPONSIBILITY: Newmont Goldcorp top miner in list of 100 best
DENVER – Newmont Goldcorp Corp. is ranked 20th on Corporate Responsibility Magazine’s 100 Best Corporate Citizens list for 2019. Newmont Goldcorp was the only mining company in the top 20 and one of only two miners to make the list.…
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COPPER-GOLD: Rio Tinto signs binding agreement for Grasberg sale
INDONESIA – British-based Rio Tinto has signed a binding agreement for the sale of its interest in the Grasberg copper-gold mine in Papua state. PT Indonesia Asahan Aluminium (Persero) (a.k.a. Inalum), the country’s state run mining company, is buying into…
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COPPER: Larger share of Grasberg to cost Inalum $3.9B
INDONESIA – There is now a non-binding heads of agreement covering the Grasberg copper mine in Papua state. When the details are worked out it will be signed by Freeport-McMoRan, Rio Tinto, the PT-FI joint venture, and state-owned Inalum. Inalum…
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COPPER: Inalum said close to acquiring Rio interest in Grasberg mine
INDONESIA – The rumours are flying this week concerning who might buy out Rio Tinto’s share of the giant Grasberg copper mine in the province of Papua. Rio let it be known several weeks ago that it wanted to sell…
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COPPER-GOLD: Grasberg talks underway says Rio
INDONESIA – Rio Tinto of Melbourne, Australia, has confirmed that it is in talks with several parties concerning the sale of its interest in the Grasberg copper-gold mine in the province of Papua. Historically, the project has been owned 40%…
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GOLD: WGC rates Top 10 gold miners
LONDON, U.K. – The World Gold Council has perused the numbers and determined that primary gold production his another record level in 2017. Output totaled roughly 105 million oz., up 17 million oz. from the previous year. Nearly 30% of…
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COPPER-GOLD: Indonesian government to pick up Rio’s share of Grasberg
INDONESIA – If the Indonesian government wants 51% of your mine, what can you do? Freeport McMoRan of Phoenix, Ariz., has caved to the demand and agreed to divest its interest in one of the world’s richest copper-gold mines in…
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COPPER-GOLD: Freeport caves in to Indonesian government over Grasberg interest
INDONESIA – Freeport-McMoRan of Phoenix, Ariz., has agreed to give up control of the world’s second largest copper mine, Grasberg, to the Indonesian government. The announcement comes after escalating public outrage at foreign ownership of the mine. In January the…
