Like its Asian peers Japan and South Korea, China is seeking to strengthen its presence in the booming Indonesian economy, which has been a leading destination for foreign investment in recent years.
“We expect a smaller decline next year but still a decline,” Schulz said.
Schulz said the downturn in the mining industry, which he describes as a part of a normal 10-yearbusiness cycle, started last year and has intensified this year. He said mining capex would bottom out towards the end of 2014 and begin to rise the following year.
The downturn has hit the demand for new mining equipment for both greenfield and existing mines.
http://www.reuters.com/article/2013/10/01/us-nordic-investment-flsmidth-idUSBRE9900MM20131001
Bonao, Dominican Republic.- Hundreds of workers of Xstrata Nickel’s Falcondo mine and their relatives held a candlelight vigil in front of the Fatima Church to demand exploitation of Loma Miranda, declared a National Park by the Chamber of Deputies on Tuesday.
The protesters demand that the Government guarantee what they affirm are more than 2,500 jobs the mine would provide for residents of Bonao and La Vega (central). They said Falcondo has conducted the required study which ensures that the mine won’t harm the rivers in the long term.
Mopani Copper Mines says it is on course to commission its $323 million deep mine copper project by the second quarter of 2015.
Mopani, owned by Glencore Xstrata PLC said the commencement of production is part of the mine’s expansion drive in Zambia to boost production.
http://www.lusakatimes.com/2013/10/01/mopanis-new-mine-project-to-start-production-in-2015/
MOSCOW, Oct 1 (Reuters) – Russia’s Norilsk Nickel, the world’s biggest nickel and palladium producer, has lowered its dividend target for 2013-14, its co-owner, aluminium giant Rusal said on Tuesday, as oversupply in its key market hurts prices.
Norilsk, which paid $1.9 billion in dividends for 2012, was expected to pay at least $3 billion for 2013 and 2014 until in September its co-owner Vladimir Potanin warned it would have to change its dividend policy due to falling prices.
http://www.reuters.com/article/2013/10/01/russia-rusal-norilsk-idUSL6N0HR07X20131001
Pangkalpinang, Bangka-Belitung (ANTARA News) – Indonesia seeks to be the determiner of the world`s tin price, following the establishment of a national commodities exchange for the mineral resource, said President Director of PT Timah Tbk. Soekirno.
“With the introduction of the law, which requires tin trade through a national commodities exchange, it is hoped that no under pricing trade will occur. This way, the country`s hope of becoming the tin price determiner will be achieved,” he said on Friday.
http://www.antaranews.com/en/news/90913/indonesia-hopes-to-be-determiner-of-worlds-tin-price
(Reuters) – Brazilian metals producer Votorantim Metais said it will suspend operations at its 13,000 tonne a year nickel matte export plant in November and interrupt a supply contract with Mirabela Nickel Ltd , an Australian miner that produces nickel concentrate in Brazil’s Bahia state.
http://in.reuters.com/article/2013/09/27/brazil-nickel-idINL2N0HN11F20130927
Barrick Gold, the world’s largest producer of the metal by sales, is in talks to sell more assets as it seeks to reduce operating costs and focus on its most efficient mines.
The company, which last month agreed to sell three Australian mines, is in talks about selling additional assets in the country, chief executive Jamie Sokalsky said at the Denver Gold Forum.
The Toronto-based company is mulling over the sale of other assets around the world and would consider a joint venture with US competitor Newmont Mining in Nevada to reduce costs.
KUALA LUMPUR, Sept 26 (Bernama) — Lynas Malaysia Sdn Bhd has target the first phase of its advanced materials plant in Kuantan, Pahang, to operate at full capacity by year-end.
Vice-President and Managing Director Datuk Mashal Ahmad said only then would the company begin to record positive returns as right now the plant was currently at a ramping up stage and production value was still negligible.
“Right now, we are producing only for customer certification test.
“Until we come to a stage where all this is settled, only then can we go full steam ahead and see changes in our revenue,” he told reporters after delivering a lecture on “Rare Earth: Towards a Greener Future” here Thursday.
http://www.bernama.com.my/bernama/v7/bu/newsbusiness.php?id=980787
(Reuters) – Indonesia’s PT Aneka Tambang (Antam) expects to export up to 50 percent more nickel ore this year at 10 million-12 million tonnes, a director at the state-controlled miner said.
Indonesia is the world’s top exporter of nickel ore, a key component of stainless steel, and exports have increased this year ahead of a planned 2014 ore export ban.
http://in.reuters.com/article/2013/09/26/indonesia-antam-nickel-idINL4N0HL18920130926
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