2025-09-30 20:02
Sept 30 (Reuters) - Freeport-McMoRan (FCX.N) , opens new tab said on Tuesday it remains in discussions with the government of Indonesia regarding rights to operate the Grasberg copper and gold mine past 2041. News reports earlier on Tuesday had indicated that Phoenix-based Freeport had agreed to divest a 12% stake in its Indonesian unit, known as PT Freeport Indonesia. Grasberg is the world's largest gold mine and second-largest copper mine. Sign up here. PT Freeport Indonesia is 51% owned by Indonesia's government but operated by Freeport, one of the world's largest copper miners with operations across the Americas, Asia and Europe. In response to a request from Reuters, Freeport said it continues "to advance discussions with the government of Indonesia" regarding an extension of operating rights past 2041. "The parties are working to conclude an agreement that would be beneficial to all stakeholders. (Freeport) will issue a formal announcement upon successful completion of an agreement," a Freeport spokesperson said. Negotiations come after Freeport declared force majeure at Grasberg last week due to torrential mudslides that killed two workers earlier this month and injured others. Freeport has said that Grasberg may not return to pre-accident operating rates until at least 2027. The mine's temporary closure is expected to crimp global copper supplies for several years. https://www.reuters.com/markets/commodities/freeport-mcmoran-still-talks-with-indonesia-over-grasberg-mine-rights-company-2025-09-30/
2025-09-30 19:54
SANTIAGO, Sept 30 (Reuters) - The world's biggest copper miner, Chile's Codelco (COBRE.UL), has named Gonzalo Lara Skiba as vice president of integrating operations at Andina, a role in which he will spearhead a shared mine plan between Codelco's Andina and Anglo American's (AAL.L) , opens new tab Los Bronces. "This vice presidency faces the challenge of transforming the strategic agreement into concrete and sustainable operations," Codelco said in a statement. Sign up here. Cesar Jimenez Soto will take over Lara Skiba's current role, becoming interim General Manager of the Ministro Hales mine in November. https://www.reuters.com/world/americas/codelco-names-vp-lead-integration-andina-mine-with-anglo-american-2025-09-30/
2025-09-30 19:52
WASHINGTON, Sept 30 (Reuters) - Chicago Federal Reserve President Austan Goolsbee said on Tuesday that U.S. central bankers would have to hunt for alternate data sources to consider at their October 16-17 policy meeting if upcoming government reports on jobs, inflation and other aspects of the economy are suspended because of a government shutdown. The self-funded Fed would remain open even if the rest of government closes. "It pains me that we wouldn't be getting official statistics at exactly a moment when we're trying to figure out is the economy in transition," Goolsbee said on "The Claman Countdown" on Fox Business. Sign up here. https://www.reuters.com/business/feds-goolsbee-will-need-turn-other-data-sources-if-us-reports-suspended-during-2025-09-30/
2025-09-30 19:50
External power line to Russian-held plant down for seven days UN nuclear watchdog, IAEA, says no immediate danger IAEA says emergency diesel generators remain in operation Ukraine, Russia accuse each other of endangering nuclear safety Sept 30 (Reuters) - Ukrainian President Volodymyr Zelenskiy said on Tuesday the situation at the Russian-occupied Zaporizhzhia nuclear power station had become critical, with Russian shelling preventing restoration of a power line needed to cool the reactors and prevent a meltdown. The head of the International Atomic Energy Agency, the U.N. nuclear watchdog, said it was working with both sides to restore the external power line. Rafael Grossi said there was no immediate danger as long as diesel generators remained in operation, providing emergency power for the facility. Sign up here. Zelenskiy, speaking in his nightly video address, said one of the diesel generators providing emergency power was no longer working, seven days after external power lines went down. "This is the seventh day. There has never before been such an emergency situation at the Zaporizhzhia plant. The situation is critical. Russian shelling has cut the plant off from the electricity network," Zelenskiy said. The Zaporizhzhia plant, Europe's largest with six reactors, was seized by Russian troops in the first weeks of Russia's February 2022 invasion of Ukraine and each side regularly accuses the other of attacks that endanger nuclear safety. It produces no electricity at the moment, but needs power to ensure fuel in the reactors remains cool and no meltdown occurs. It was the 10th occasion since the start of the conflict that the plant has been disconnected from the power grid. "This is a threat to everyone. No terrorist in the world has ever dared to do with a nuclear power plant what Russia is doing now. And it is right that the world not remain silent." Grossi, in a statement issued late on Tuesday, said he was "in constant contact with the two sides with the aim to enable the plant’s swift reconnection to the electricity grid." "While the plant is currently coping thanks to its emergency diesel generators – the last line of defence – and there is no immediate danger as long as they keep working, it is clearly not a sustainable situation in terms of nuclear safety," he said. "Neither side would benefit from a nuclear accident." Grossi said both sides noted military activity had prevented them from carrying out necessary repairs. He said the plant was operating eight diesel generators, with nine units in standby mode and three in maintenance. "I strongly encourage both sides to work with us and enable these essential repairs to take place," he said. Russian officials have not commented on the latest statements on conditions at the plant. Grossi has repeatedly called on both sides to uphold nuclear safety. IAEA monitors are stationed permanently at Zaporizhzhia and at Ukraine's three other nuclear power stations. https://www.reuters.com/business/energy/ukraine-warns-critical-situation-zaporizhzhia-nuclear-plant-2025-09-30/
2025-09-30 18:36
CHICAGO, Sept 30 (Reuters) - The impact of a government shutdown on the economy depends on how widespread the closure is and how long it lasts, Chicago Federal Reserve President Austan Goolsbee said on Tuesday. Most shutdowns historically have not lasted long and their impact has been limited, Goolsbee said at an event on the U.S. agriculture economy at the Chicago Fed's headquarters. Sign up here. https://www.reuters.com/world/us/government-shutdown-impact-economy-depends-length-breadth-outage-feds-goolsbee-2025-09-30/
2025-09-30 17:24
Sept 30 (Reuters) - President Donald Trump would like the government to have stakes in a wider array of companies, U.S. Trade Representative Jamieson Greer said on Tuesday, although Trump's chief trade negotiator sidestepped a question on whether taking a stake in chipmaker Nvidia was under discussion. "Well, I mean ... you talk to President Trump, he'd love a stake in every company that's doing well," Greer said at an event in New York when asked if an Nvidia stake was in the cards following the 10% stake Trump arranged to take in rival chipmaker Intel. Sign up here. "We're trying to be creative about how we do this and how we support business and support U.S. policy at the same time," Greer said at an Economic Club of New York event. He did not specifically address moderator Maria Bartiromo's question about a Nvidia stake. https://www.reuters.com/world/us/ustrs-greer-trump-would-love-stake-every-company-thats-doing-well-2025-09-30/
