Philippines Closes 2 Mines as Crackdown Begins

by on

Reuters reported that the Philippines has ordered the suspension of operations at two nickel ore mines for environmental violations and halted the issuance of exploration permits as a nationwide crackdown led by a new mining minister begins.

Two-Month Trial: Metal Buying Outlook

The move could curb nickel ore shipments from the Southeast Asian country, the top supplier to No. 1 market China.

Australia Cuts Iron Ore Forecasts

Australia on signaled it sees the current rally in iron ore prices coming to an end, cutting its price forecasts over the next 18 months to reflect an industry grappling with oversupply and weak demand.

Free Download: The June 2016 MMI Report

The Department of Industry, Innovation and Science cut its 2016 forecast for the country’s biggest export earner by nearly 2% to an average of $44.20 a metric ton and by 20% to $44 in 2017.

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.