Mineral Resources News
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South Korea, the world’s second- biggest liquefied natural gas buyer, will hold talks with energy and commodity suppliers operating in Australia on expanding cooperation to ensure supplies of the fuel and other minerals.
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Zinc-processing fees may fall about 4.3 percent this year as tightening supplies of ore force smelters to offer their services to mining companies at a discount, a Bloomberg survey showed.
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Saudi Arabian Mining Co., the state- controlled company known as Maaden, obtained Saudi government approval to proceed with a 26 billion-riyal ($7 billion) phosphate project in the country’s north.
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Indonesia will ban exports of metal ore by companies that hold IUP Operation Production, or mining permits issued by local governments, starting in May, Energy and Mineral Resources Minister Jero Wacik told reporters in Jakarta.
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Freeport-McMoRan Copper & Gold Inc., the largest publicly traded copper producer, and Newmont Mining Corp. will cooperate with the Indonesian government as it reviews the companies’ mining contracts.
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Japan and Mozambique will cooperate on the development of coal, oil and natural gas in the southern African country as global competition to secure natural resources intensifies.
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Jinchuan Group International Resources Co. shares jumped the most in three months on speculation Indonesia may bring forward restrictions on exports of metal ores including nickel to May, potentially boosting sales from Chinese suppliers.
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Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the midday break in Manila.
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BHP Billiton Ltd., the world’s biggest mining company, and partner Rio Tinto Group approved a $4.5 billion expansion of Chile’s Escondida copper mine.
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Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the close of trading in Manila.
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