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

Jan 11 (Reuters) – U.S. mining giant Freeport McMoRan Copper and Gold Inc halted its copper exports from Indonesia, less than an hour before a controversial mineral export ban comes into effect, a union official told Reuters late Saturday.

Indonesia on Sunday will impose a ban on more than $10 billion worth of annual copper, nickel and other unprocessed mineral ore shipments, a move that industry officials warn could lead to mass layoffs, mine closures and depleted foreign revenue.

Read more at: http://www.reuters.com/article/2014/01/11/indonesia-minerals-idUSL3N0KL05T20140111

Jan 10 (Reuters) – An Indonesian ban on raw minerals exports is set to hurt Chinese factories making stainless steel – used in everything from kitchenware to cars and buildings – in the biggest potential industry shake-up in more than five years.

The ban, due to come in force on Sunday, may also be a boon for battered nickel miners, dogged by prices that lost 19 percent last year and are sitting stubbornly near four-year lows.

Read more at: http://www.reuters.com/article/2014/01/10/indonesia-minerals-impact-idUSL6N0KJ05U20140110

Canada’s Sherritt International said on Tuesday it would sell its coal business for C$946-million to focus on its nickel and oil businesses.

Sherritt said it would sell its entire royalty portfolio and stake in coal development assets to a group led by mining company Altius Minerals for C$481-million.

Westmoreland Coal will buy Sherritt’s operating coal assets – Prairie and Mountain Operations – for C$465-million.

Read more at: http://www.miningweekly.com/article/canadas-sherritt-to-sell-coal-business-for-c946m-2013-12-24

The deficit is high and a mineral export ban could make things worse – but there are plenty of reasons to be cheerful in Jakarta.

A political tussle over Indonesia‘s formidable mineral exports goes a long way towards illustrating the political risks of doing business in Indonesia.

On 12 January the country is due to enact legislation that will ban exports of unprocessed mineral ore, following the passing of a law in 2009. The ban is one of President Susilo Bambang Yudhoyono’s landmark economic reforms. But with Sunday’s deadline looming, last-minute exemptions are still being argued over.

Read more at: http://www.theguardian.com/world/2014/jan/09/natural-resources-high-hopes-indonesia

 Below is a table of the proposed minimum percentage
requirements to export compared to regulations due to come into
effect on Jan. 12. The proposal must still be approved by
President Susilo Bambang Yudhoyono.

    See related story at.

         Mineral/Metal     Proposed        Current
                          regulation     regulation*
                copper        15              98
               bauxite      45/98**           98
        lateritic iron        51              75
          primary iron        62              75
             manganese        40              60
             zirconium        65.5            99
      zirconium silica        64              65.5
                nickel        4***            6

Read more at: http://in.reuters.com/article/2014/01/08/indonesia-minerals-processing-idINL3N0KI2EO20140108

JAKARTA (REUTERS) –

Jan 7 (Reuters) – Indonesia’s planned mineral export ban – a policy designed to force miners to process their ores domestically – is sending shudders through the economy, with a Singapore-owned nickel miner suspending operations ahead of the Jan. 12 ban.

Indonesia is the world’s top exporter of nickel ore, thermal coal and refined tin, but also has significant exports of iron ore a

Read more at: http://www.reuters.com/article/2014/01/07/indonesia-minerals-ibris-idUSL3N0KH1K020140107

Outotec has signed a contract with Norilsk Nickel for the delivery of minerals processing technology and equipment to the second phase expansion of the Talnakh copper-nickel concentrator in the Krasnoyarsky Region in Russia. The value of comparable deliveries is typically €60-80 million. Outotec will deliver a fully automated flotation complex with performance guarantees including Outotec TankCell^® flotation cells in different sizes as well as Outotec^® High Rate thickeners, electrification and a process control system. In addition, Outotec provides plant commissioning services and spare parts for two years.

Read more at: http://www.im-mining.com/2014/01/06/outotec-to-deliver-minerals-processing-technology-to-norilsk-nickel-in-russia/

Brazilian mining giant Vale said Monday it had suspended with immediate effect force majeure on iron ore shipments contracts.

The world’s main producer had declared force majeure — limiting its liabilities owing to circumstances beyond its control — on December 27 after bad weather in Brazil’s southeast disrupted operations and shipments.

Read more at: http://www.globalpost.com/dispatch/news/afp/140106/vale-suspends-force-majeure-iron-ore-shipments

Minmetals Development Co. (600058), a Chinese importer and exporter of metals and minerals, plans to buy iron-ore assets for 9.9 billion yuan ($1.6 billion) from its controlling shareholder.

Read more at: http://www.bloomberg.com/news/2014-01-03/minmetals-development-to-buy-iron-ore-units-for-1-64-billion.html