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Copper: Freeport Indonesia suspends operations at Grasberg mine
Freeport Indonesia has temporarily suspended mining and processing operations at its Grasberg copper mine after heavy rains flooded part of its concentrate production facility and damaged parts of a road. The company said it has freed 14 employees trapped in an office...
Nickel and palladium: Nornickel reported a drop in profit due to declining sales
Russian mining giant Nornickel said on Friday that its earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 17 per cent year-on-year in 2022 to $8.7 billion, due to declining sales and supply chain disruptions. Although it was not directly...
Copper: exploration budgets increase
Total copper exploration budgets increased by 21% to just under USD 2.8 billion in 2022, the highest level since 2014. The increase was driven by the strong recovery in the price of copper after hitting multi-year lows at the start of the global pandemic. Copper...
Nickel: Trafigura suffers $577 million loss
Commodities trader Trafigura Group will incur an expense of almost half a billion dollars in the first half of 2023, after discovering that some nickel cargoes purchased did not contain the metal they were supposed to. The Geneva-based company said the 'systematic...