A Blog for Browsing Mining, Mineral Processing, and Metals Info

India‘s mining industry, which is set to reach $36 billion by 2016, is gearing up to host a mega conference – the 5th International Mining, Exploration, Mineral Processing Technology, Metals & Machinery Exhibition – Feb 13-16 at the Salt Lake Stadium Ground in Kolkata.

Read more at: http://www.business-standard.com/article/news-ians/india-to-host-mega-mining-exhibition-in-february-114012300436_1.html

Santo Domingo.- La Vega senator Euclides Sanchez on Thursday accused Xstrata Nickel’s Dominican Republic operation (Falcondo) of bribing lawmakers, journalists, and Government officials, which he didn’t identify, to mine Loma Miranda (central).

He said the mining company is trying to buy consciences  and cited Industry and Commerce minister Jose del Castillo, who he affirms despite being aware of the UN’s negative report on Loma Miranda, has publicly supported the exploitation.

Read more at:  http://www.dominicantoday.com/dr/local/2014/1/23/50319/Xstrata-Nickel-bribes-lawmakers-journalists-officials-Senator

Newmont Mining Corporation (NYSE: NEM) (“Newmont” or “the Company”) today provided an update on export issues pertaining to PT Newmont Nusa Tenggara (“PTNNT”), which operates the Batu Hijau copper and gold mine on the island of Sumbawa in Indonesia.

Although Indonesian government officials have informed PTNNT that the ban on copper concentrate exports from Batu Hijau does not take effect until January 11, 2017, as provided for in recently issued regulations, the regulations also include new and potentially restrictive conditions to obtain an export permit, as well as a significant export duty. As PTNNT meets with government officials for further information and clarity regarding the new regulations, Newmont is evaluating potential impacts to its operating plans at Batu Hijau.

Read more at: http://online.wsj.com/article/PR-CO-20140122-909590.html

Freeport hasn’t received administrative approvals for 2014 exports from its Grasberg copper and gold mine in the Southeast Asian nation, the Phoenix-based company said today in its fourth-quarter earnings statement. Freeport expects to defer about 40 million pounds of copper and 80,000 ounces of gold per month at the mine, its largest producer by revenue.

Indonesia introduced regulations on metal exports this month, which curbed the shipping of unprocessed ore and placed duties on exports of copper concentrates by companies including Freeport. The duty on copper concentrates, a semi-processed ore, will be 25 percent this year and rise to 60 percent by mid-2016.

Read more at: http://www.businessweek.com/news/2014-01-22/freeport-mcmoran-earnings-beat-estimates-after-costs-decline

SYDNEY, Jan 22 (Reuters) – Philippine nickel ore producer Nickel Asia Corp is seeing a jump in enquiries after neighbour Indonesia banned ore exports this month, but is sold out and expects to benefit from the ban through higher prices, senior executives said.

Indonesia halted exports of nickel ore on Jan. 12 in a bid to force miners to set up downstream industries with the aim of reaping more value from its mineral wealth.

“We already have too much demand as it is and we’re not taking new orders,” Dennis Zamora, senior vice president of Nickel Asia, told Reuters late on Tuesday. “I think we’ll see the effect in price, not in volume.”

Read more at: http://www.reuters.com/article/2014/01/22/philippines-nickel-idUSL5N0KV07720140122

SHANGHAI , January 22 , SinoCast — Jilin Jien Nickel Industry predicts that it would make CNY 80 millionto CNY 120 million net profits in 2013, compared with CNY 20.63 million losses in 2012.

JIEN CANADA MINING LTD., a grandson firm of the company, gained about USD 30 million incomes from mine exploration right in 2013.

Source: http://www.kitco.com/news//2014-01-22/Jilin-Jien-Nickel-Industry-Predicts-Profits-in-2013.html

PERTH (miningweekly.com) – Uranium miner Paladin Energy has sold off a 25% interest in its Langer Heinrich mine, in Namibia, for $190-million to a subsidiary of China National Nuclear Corporation (CNNC).

Paladin CEO and MD John Borshoff said that the joint venture (JV) represented a formidable partnership, focused on advancing global uranium production.

He added that the JV would ensure the long-term growth and development of the mining operations at Langer Heinrich, and reinforced the importance of Namibia in the global uranium mining context.

Read more at: http://www.miningweekly.com/article/chinese-nuclear-firm-pays-190m-for-stake-in-paladins-namibia-mine-2014-01-20

PERTH (miningweekly.com) – Mining giant BHP Billiton on Monday confirmed that it has begun a formal consultation process with the employees at its Bayside aluminium facility, in South Africa, with a view to ceasing operations.

A spokesperson for the miner told Mining Weekly Online that the company had initiated a review of the Bayside operation in September 2012, as the smelter was under “significant and ongoing financial pressure”.

Read more at: http://www.miningweekly.com/article/bhp-may-close-aluminium-smelter-in-south-africa-2014-01-20