PT BPMS - News & Events
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Freeport logs third-quarter loss after massive oil and gas write-down
U.S. copper miner Freeport-McMoRan (NYSE:FCX) was the second company to announce Thursday it has swung to a third-quarter loss after a massive write-down tied to the firm’s ailing oil and gas operations. The Phoenix, Ariz.-based company, which is the U.S. largest miner by market value and revenue, ... read more
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Copper advances in China as refined metal supply growth may slow
Copper futures in Shanghai climbed for the first time in five days amid signs growth of refined metal supply in China is slowing, easing pressure on prices as demand weakens in the world’s biggest consumer. The contract for December delivery on the Shanghai Futures Exchange rose 0.9 percent ... read more
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BHP first quarter iron ore output jumps 7% to meet estimates
BHP Billiton Ltd., the world’s biggest mining company, said first-quarter iron ore output rose 7 percent, joining rivals Vale SA and Rio Tinto Group in reporting increased supply amid falling prices and a global glut. Production was 61.3 million metric tons in the three months ended Sept. 30, ... read more
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China to continue expanding its influence in the oil and gas sector
Since 2009, China has been taking a much more active role in its pursuit of international oil contracts. In 2009, for the first time, Saudi Arabia exported more of its oil to China than it did to the U.S. China also made large investments in Saudi Arabia’s oil refining industry as well. But China’s ... read more
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China\'s inability to achieve nuclear targets will be a boon for coal: Woodmac
China will be unable to achieve its target of increasing nuclear power generating capacity to 200 GW by 2030, translating into opportunities for coal producers to captureadditional demand growth, Wood Mackenzie said Monday. Coal will remain the dominant fuel, at 64% of China\'s power generation mix ... read more
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Freeport gets approval to restart part of Indonesia mine
Freeport McMoRan Copper & Gold has got government clearance to restart some production at the world\'s second largest copper mine in Indonesia, two weeks after a tunnel collapse killed 28 people. Freeport can resume openpit mining at the remote Grasberg complex in West Papua province in eastern ... read more
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Rio Tinto seeks $254/T Q3 premium from Japanese aluminium buyers
Rio Tinto Alcan has written to Japanese buyers asking for a premium of $254 per tonne over the LME cash price for July-September primary aluminium shipments, a source involved in quarterly pricing talks said on Tuesday. That compares with average premiums of $248 to $250 a tonne in the previous quarter, ... read more
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Jinchuan shuts 200,000t copper plant as scrap shortage bites
Jinchuan Group Ltd, China\'s third-largest copper producer, has shut a 200,000 tonne-a-year facility due to a raw scrap shortage, which could reduce its refined copper output by more than 16 percent this year, an executive said on Friday. The move followed output cuts earlier this week ... read more
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Indonesia union urges completion of probes into Freeport tunnel collapse
All investigations into a tunnel collapse that killed 28 people at the world\'s No.2 copper mine, run by Freeport McMoRan Copper & Gold Inc in Indonesia, must be completed before workers return, a trade union official said on Thursday. Arizona-based Freeport suspended operations at the remote Papua ... read more
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KGHM wins part of Rio Tinto Kennecott tender
Polish miner KGHM has won the first part of a tender to supply Rio Tinto’s copper smelter in Utah after a rockslide at Rio\'s own mine nearby left it struggling to source raw material, three market sources said. Rio Tinto declined to comment, and KGHM could not immediately be reached to comment. Rio ... read more
