Freeport-McMoRan reduces its first-quarter gold sales estimate
Freeport-McMoRan, a gold miner in the United States, lowered its first-quarter forecast on Monday after timing issues with Indonesian shipments led to deferrals of some of its quarterly production. Freeport, which operates Indonesia's Grasberg mine, one of the largest gold and cobalt mines in the world, had built a smelter as part of a operating agreement with Jakarta officials.
Can Trump's drive for critical minerals pass the test of copper? Andy Home
The executive order issued by U.S. president Donald Trump on increasing domestic mineral production is designed to cut through the mine permit maze in the United States. According to S&P Global, it takes on average nearly 29 years to bring a new mine from discovery to production. This is the second longest lead time in the entire world, after Zambia. The U.S.
Osaka Gas' president claims that it has no immediate requirement for additional US LNG.
Osaka Gas' president stated on Wednesday that the company does not need to purchase more liquefied gas from the United States as it already has enough to last until the middle of next decade. U.S. president Donald Trump pushes energy sales to Asian allies, while threatening tariffs on trade. This is reviving Alaska LNG's stagnated LNG ambitions.
LSEG data indicates that Freeport LNG will resume service in Texas after a lightning strike.
Data from the financial firm LSEG revealed that natural gas flows at Freeport LNG's Texas export plant were expected to increase on Tuesday, after a lighting strike on a pipe caused it to close on Monday. Freeport is one the most closely monitored LNG export plants around the world, as the start and end of its operations can cause large price swings on global gas markets. Gas prices in the U.S.
Freeport Indonesia reduces its 2025 production target by 9.9%
Freeport Indonesia's chief announced on Thursday that the company has reduced its target for 2025 copper concentrate production by almost a 10th, to 3,29 million tons. The firm is now aiming at a copper output of 1,67 billion pounds (757 499 metric tons), which is below last year’s production of about 1.8 billion pounds. Freeport Indonesia…
Sources: Trump wants to refine minerals on Pentagon bases in order to boost US production
U.S. President Donald Trump aims to build metals refining facilities on Pentagon military bases as part of his plan to boost domestic production of critical minerals and offset China's control of the sector, two senior administration officials told . The move is one of several planned for an executive order Trump could sign as soon as Wednesday after he told the U.S.
Indonesia introduces new rules allowing exports of minerals in cases of force majeure
The Indonesian Government has published a regulation that allows mineral companies to export ore unprocessed in situations of force majeure, said the Energy Ministry on Thursday. Indonesia has banned the export of raw minerals by 2023 in order to encourage metals to be processed at home. However, there are some exceptions. One is for…
Trump orders new tariff probe into US copper imports
The President Donald Trump launched a new front in his attack on global trade norms on Tuesday, ordering an investigation into possible new tariffs on imports of copper to rebuild U.S. manufacturing of a critical metal for electric vehicles, military equipment, the power grid, and consumer goods. In an effort to stop what his advisors viewed as China's move to dominate the copper market in the world…
Freeport Indonesia asks for copper concentrate export license
Freeport Indonesia's chief executive has said that the company has asked the government to relax the ban on copper exports and allow it to export 1.3 millions metric tons (worth $5 billion) of copper concentrate by December. Indonesia, a country rich in natural resources, has banned the export of unprocessed ore to encourage domestic processing and add value.
Peru Copper Production to Decline in 2024 from 2.74 Million Tons
The Peruvian mining ministry announced on Friday that copper production in 2024 will be 2,736,150 tons, a 0.7% decrease from 2023. This was the first time the copper giant had declined after four years of steady recovery following the pandemic. According to industry sources, Peru's output of copper would be stable in 2024 and 2025…
Freeport Indonesia has reduced its copper ore production to 60% of capacity
Tri Winarno, a senior official in the Energy and Mineral Resources Ministry, said that PT Freeport Indonesia had reduced its copper mining capacity to 60% due to increasing stockpiles. Indonesia has banned the export of unprocessed ore to encourage domestic processing. Freeport is currently repairing its new smelter following an October fire.
Freeport to resume copper concentrate imports from Indonesia in this month, say sources
Freeport McMoRan will resume copper concentrate shipments from Indonesia in this month, under a newly issued export licence. The previous one expired in December. Indonesia has limited raw material exports in order to force companies to refine minerals and add value to their exports. Freeport, which has its own local refinery capacity…
Data shows that Europe consumed almost all US LNG exported last month.
The preliminary data of financial firm LSEG shows that U.S. LNG exports to Europe jumped by a significant amount in January, as the cold weather drove demand up and prices for super-chilled gas increased. The total exports for the month of 8.46 million metric tons (MT) to all countries reached nearly nine out of ten cargoes. According to LSEG…
Tariffs on copper and aluminium by Trump could increase costs for U.S. customers
Analysts and industry participants stated on Tuesday that President Donald Trump's promise to impose tariffs on U.S. imports of copper and aluminum would lead to higher prices for local consumers due a lack of production at home and the time required to renew the industry. Trump told Republican lawmakers that he will impose tariffs on steel and aluminium, metals needed for the production of U.S.
Freeport LNG restores Quintana Island Plant after Outage
Freeport LNG announced on Monday that its plant in Quintana, Texas has resumed full operation following an outage caused by unstable electricity from its supplier Center Point Energy last week. Last Tuesday, the third largest U.S. supplier of super-cooled gas halted its liquefaction operations after announcing that it had intermittent…
Freeport-McMoRan's profit beats Q4 estimates thanks to higher copper prices
The miner Freeport-McMoRan surpassed fourth-quarter profit expectations on Thursday as higher copper prices helped to offset the impact of reduced production. The copper price rose in the third quarter on the back of signs of increased stimulus from China, declining inventories and an accelerated U.S. employment growth in September. This indicates resilience in the largest economy in the world.
Freeport LNG plant in Texas is on track to end outage due to increased natgas flow
Data from LSEG showed that the natural gas flow to Freeport LNG’s export facility in Texas was set to increase on Thursday, after a power outage during a winterstorm forced it to close on Tuesday. Freeport is among the most closely monitored LNG export plants around the world, as the start-up or halting its operations can cause large price swings on global gas markets. Gas prices in the U.S.
Freeport LNG plant in Texas will remain closed until the power supply stabilises
Freeport LNG, a U.S. company that exports liquefied gas, said Wednesday it had closed its Texas plant on Jan. 21, due to an electrical problem caused by a winter storm. It will remain shut until the power supply is stabilized. CenterPoint Energy officials in the United States were not immediately available to comment. CenterPoint released…
Six US LNG cargoes diverted to Europe by LNG traders
Analysts and shipping data indicate that traders diverted six cargoes of LNG bound for Asia into Europe in the first half of this month due to higher European prices, and weaker Asian demand. Weather forecasts indicate lower temperatures for northwest Europe. Data from analytics firm Kpler revealed that the vessels were loaded in America and initially headed for China, South Korea Thailand and Singapore.
Congo seeks Saudi mining investors to curb China's dominance
Marcellin Paluku is a senior government official who told the media that the Democratic Republic of Congo (DRC), which is currently the world's largest cobalt producer, has been courting Saudi Arabian mining investors to diversify its economy and reduce its over-reliance on Chinese companies. Paluku, a deputy cabinet-director in the Ministry of Mines…
