TOP STORIES:
Freeport-McMoRan: Grasberg Work Stoppage Ends; Sees Full Production In 2Q
Freeport-McMoRan Copper & Gold Inc. (FCX) expects its
Grasberg mining and milling operations to reach full production in
the second quarter as its Indonesia unit has restarted operations
after a labor-related shutdown on Feb. 23.
CESCO Says Codelco, Anglo Dispute May Affect Sector
LONDON--The battle between Chile's state-run miner Codelco and
U.K.-listed Anglo American PLC (AAL.LN, AAUKY), for a disputed mine
project, could have serious consequences for the entire mining
industry, including higher taxation, a senior executive from
Chilean copper body CESCO said Thursday.
STORIES OF INTEREST:
S Africa's Eskom Envisages Role In New Nuclear Development
JOHANNESBURG (Dow Jones)--South Africa's state-owned electricity
producer Eskom Holdings Ltd. said it envisions itself playing a key
role in the further development of nuclear power in the
country.
First Quantum, Unions Set To Petition Court Over Wage Demand
LUSAKA, Zambia (Dow Jones)--First Quantum Minerals Ltd. (FM.T,
FQVLF) and miners' unions in Zambia have decided Thursday to
petition the country's industrial relations court after mediation
talks over a 22% wage demand failed to resolve the issue, a union
official said.
Peru Says It Won't Give In To Violent Protests By Miners
LIMA (Dow Jones)--Peru's government said Thursday it won't give
in to violent protests by unregulated miners while it looks to
bring the activity under control.
Poland's KGHM Hasn't Proposed Takeover - Metminco Director
South American copper and gold explorer Metminco Ltd (MMCLF,
MNC.AU) said Thursday it hasn't been approached by Poland's KGHM
Polska Miedz SA (KGH.WA) with regard to a potential takeover
proposal.
Chile's Mining Industry Faces Rising Costs Over Labor-Antofagasta
LONDON (Dow Jones)--Cost inflation in the Chilean mining
industry is a key issue particularly in terms of sourcing skilled
labor, a senior executive at Chilean miner Antofagasta PLC
(ANTO.LN, ANFGY) said Thursday.
CESCO: Miners Must Adapt Methods To Meet New Challenges
LONDON (Dow Jones)--The traditional approach of the mining
industry won't be enough to address the challenges posed by a more
complicated, demanding world, an executive at CESCO said
Thursday.
MARKETS:
BASE METALS: Copper Futures Rally Alongside Stocks On Data
NEW YORK (Dow Jones)--Copper futures settled higher, mirroring
gains in equities, as stronger manufacturing data signaled a
brighter economic landscape for the U.S. while the dollar
weakened.
-By Tatyana Shumsky, Dow Jones Newswires; 212-416-3095,
tatyana.shumsky@dowjones.com