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As On 15-Dec-2017
SENSEX
33,462.97
216.27 (0.65%)
NIFTY
10,333.25
81.15 (0.79%)
EQUITY
    No Companies Visited

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  • Commodities Buzz: Indonesia to grab Rio Tinto stake in Grasberg mine

    After pumping billions into Grasberg copper-gold mine in Indonesia for almost 25 years, Rio Tinto might finally be about to see a decent return as the country's government said Tuesday it plans to acquire the miner's 40% stake in the coveted operation.

    The move comes as Grasberg's operator, US-based Freeport McMoRan, agreed in August to divest 51% of PT Freeport Indonesia to the country's government. But until today, it wasn't clear what would happen to Rio's interest in the mine.

    The Southeast Asian nation, which will complete the acquisition of Freeport's stake in Grasberg by February 2018, intends to purchase Rio's stake as well, Energy and Mineral Resources Minister Ignasius Jonan said. Rio's chief executive Jean-Sebastien Jacques publicly questioned Grasberg's place in the group's future back in February. He followed in June with a remark about Grasberg being a world-class copper deposit, which might not be a world-class mining investment.

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Flash News 15-Dec-2017
  •  ( 16:14) Sensex rises 216.27 points or 0.65% to settle at 33,462.97  
  •  ( 15:35) Market closes with modest gains  
  •  ( 14:24) GMR Infra's consortium wins airport project in Philippines  
  •  ( 13:59) Eveready Industries receives orders worth Rs 23.85 crore  
  •  ( 11:34) Royal Orchid Hotels opens new hotel in Dwarka  
  •  ( 11:26) Gufic Biosciences scales record high  
  •  ( 11:20) Gufic Biosciences' Q2 PAT surges 113.54% to Rs 5.67 cr  
  •  ( 10:42) Gulf Oil commences oil production at Chennai plant  
  •  ( 10:32) Shalby lists at Rs 237 on BSE  
  •  ( 10:21) Vedanta's board committee to consider NCD issue on 19 Dec  
  •  ( 09:45) M&M to hike prices by up to 3% from January 2018  
  •  ( 09:23) HDFC Bank scales record high on fund raising plan  
  •  ( 08:00) ECB votes to hold interest rates on hold  
  •  ( 08:00) Exit polls predict a clear victory for BJP in Gujarat, HP  
  •  ( 08:00) Parliament winter session from today  
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15 December 2017 00:00
401.95
(1.75 %)
1119.95
(-0.45 %)
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3205.30
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1722.85
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3502.00
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1325.15
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1203.30
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859.90
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177.25
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226.65
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694.95
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2547.85
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289.80
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