Category Archives: Metals

China boosts tin ore imports from Myanmar as Indonesian supply dries up

SINGAPORE, Sept 9 (Reuters) – China’s tin industry is turning to Myanmar to help plug a gap in the supply of raw materials after new trading rules in the world’s top exporter Indonesia squeezed its major source of refined tin.

China, the world’s top metals consumer, has more than doubled its imports of tin ore and concentrates from Myanmar this year, shoring up an alternative source of the metal used mainly for solder in its vast electronics industry.

http://www.reuters.com/article/2013/09/09/indonesia-tin-myanmar-idUSL6N0GY0OX20130909

Japanese firms move into Indonesia service sector

Indonesia is likely to see a shift in investment by Japanese companies as investors take full advantage of the country’s huge population.

While investment in manufacturing by Japanese firms will continue, new investment would go into other sectors, including services and retail, according to Yoshida Susumu, secretary general of the Jakarta Japan Club (JJC).

http://www.thejakartapost.com/news/2013/09/09/japanese-firms-move-ri-service-sector.html

China’s Jiaolong and its support ship the Xiangyanghong-09 are on a scientific research voyage focusing on polymetallic nodules in the northeast Pacific and cobalt-rich crusts

Jiaolong and its support ship the Xiangyanghong-09 are on a scientific research voyage focusing on polymetallic nodules in the northeast Pacific and cobalt-rich crusts in the northwest Pacific.
Photo taken on Sept. 7, 2013 shows China’s manned submersible Jiaolong at Pacific Ocean, Sept. 7, 2013. Jiaolong and its support ship the Xiangyanghong-09 are on a scientific research voyage focusing on polymetallic nodules in the northeast Pacific and cobalt-rich crusts in the northwest Pacific.

http://www.nzweek.com/technology/chinas-submersible-jiaolong-on-scientific-research-voyage-77351/

Smelters outside Indonesia hurt by tin rule

LONDON — Smelters that rely on lower-purity tin could be hurt by Indonesia’s new regulation requiring material to be 99.9-percent pure in order to be exported.

“The quality issue will affect other smelters outside of Indonesia who had previously relied on crude tin as feed, which theoretically can no longer be shipped,” a trader told AMM sister publication Metal Bulletin. “On the (London Metal Exchange), I would say the situation is affecting the market, with tin being the only metal (in recent days) to increase in price as the others fell.”

Three-month tin climbed to $22,295 per tonne Sept. 5, the first time the price breached $22,000 in four weeks, following PT Timah Tbk’s declaration of force majeure, which was linked directly to the new legislation (amm.com, Sept. 4)

http://www.amm.com/Article/3252283/Nonferrous/Smelters-outside-Indonesia-hurt-by-tin-rule.html

China to cap rare earth production at 93,800 tonnes in 2013: ministry

(Reuters) – China will cap rare earth production at 93,800 tonnes over the whole of 2013 as part of efforts to rein in unlicensed production in the sector, the country’s land and resources ministry said on Friday.

http://www.reuters.com/article/2013/09/06/us-china-rareearth-idUSBRE9850HM20130906

Norilsk Nickel Hires Citigroup to Sell Mines in Australia

OAO GMK Norilsk Nickel (GMKN), the largest producer of the metal, hired Citigroup Inc. (C) to help sell its Australian portfolio that includes four nickel mines currently idled because of low prices and high production costs.

The company has sent out fliers to prospective buyers to acquire the assets, an Australia-based company spokesman, who asked not to be named citing company policy, said by phone. Norilsk in 2010 said it had plans to divest most of its Australian assets it acquired in 2007 through the C$6.8 billion ($6.5 billion) acquisition of LionOre Mining International Ltd.

http://www.bloomberg.com/news/2013-09-06/norilsk-nickel-hires-citigroup-to-sell-mines-in-australia.html

Norilsk Nickel and MMC Urals consider eventual cooperation

Elanski and Elkinski ore deposits are the last important copper-nickel fields in Europe, and their commissioning might facilitate additional good quality ore feeds for both metallurgical companies. Norilsk Nickel experts may share if necessary their experience in the field of new technologies. Besides, the cooperation does not comprehend the Company’s financial intervention.

http://www.4-traders.com/GMK-NORILSKIY-NIKEL-OAO-6491737/news/GMK-Norilskiy-nikel-OAO–Norilsk-Nickel-and-MMC-Urals-consider-eventual-cooperation-17244839/

Tin buyers eye Indonesian exchange after rule change

JAKARTA/SINGAPORE Sept 5 (Reuters) – Indonesia’s only regulated tin exchange said it is fielding calls from potential buyers of the metal after new trading rules forced a top producer to stop shipments last week, but others said they will sit out for now.

“We have seven buyers and more coming up,” Megain Widjaja, chief executive of the Indonesia Commodity and Derivatives Exchange (ICDX), told Reuters. “There are so many phone calls that I need to take from the last two days, from buyers who wish to get onboard and get tin ASAP.

http://www.reuters.com/article/2013/09/05/indonesia-tin-trade-idUSL4N0H10PI20130905

INDONESIA PRESS-Newmont sees 2013 gold output at 65,000 ounces

(Reuters) – Copper and gold miner PT Newmont Nusa Tenggara, a unit of Newmont
Mining Corp, is still optimistic that its 2013 gold output will touch 63,000
ounces, and copper concentrate at 192 million pounds, amid a weakening rupiah,
said Ruby W Purnomo, head of corporate communications.

http://www.reuters.com/article/2013/09/06/indonesia-press-newmont-idUSL4N0H203S20130906

Indonesia plans to soften foreign miners’ divestment rule

(Reuters) – Indonesia plans to relax a rule forcing foreign miners to sell majority stakes and allow those who make downstream investments to keep bigger holdings, a spokesman at the Energy and Mineral Resources Ministry said on Thursday.

http://www.reuters.com/article/2013/09/05/indonesia-mining-divestment-idUSL4N0H116D20130905

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