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LONDON, Nov 23 (Reuters) - Chilean copper miner Antofagasta (ANTO.L) last week inked the first major 2024 concentrates supply deal with China's Jinchuan Group. Indeed, it's far from certain there will be a single benchmark for next year due to a shifting copper concentrates landscape. Annual "benchmark" copper smelter treatment chargesSPLIT BENCHMARK? Other members of China's Copper Smelters Purchase Team, a grouping of the country's biggest players, have rejected Jinchuan's terms as a benchmark. Its new Manyar copper smelter will start ramping up from May.

Persons: Freeport, Chen Yunian, Jinchuan, it's, Jan Harvey Organizations: China's Jinchuan, TC, Freeport McMoRan, HK, Study, China's, Copper, Reuters, Thomson Locations: Antofagasta, Jinchuan, Freeport, Indonesia, Panama, Peru, Chile, China, Jiangxi, Canada, Botswana

☆ How shipping more US natural gas to Europe helped fuel CO2 pollution
▼ + stars: | 2023-11-08 | by ( Tim Mclaughlin | ) www.reuters.com time to read: +6 min

The administration approved five U.S. LNG export licenses to serve the European market following Russia's invasion, having approved none beforehand. U.S. special climate envoy John Kerry told Reuters last year that greenhouse gas emissions were an inevitable "downside" to increasing LNG exports to European allies. CO2 emissions from the energy-intensive process of liquefying gas for export mark only one stage in the industry's overall climate impact. Critics argue that it is unclear whether the U.S. gas export boom to Europe is displacing coal or delaying a transition to renewables like solar and wind. NextDecade Corp has said its proposed terminal near Brownsville, Texas, could remove more than 90% of its expected 6.4 million tons per year of carbon emissions.

Persons: Arathy, Biden, John Kerry, Robert Fee, Critics, Alexandra Shaykevich, Sempra, Susan Richardson, Tim McLaughlin, Richard Valdmanis, Suzanne Goldenberg Organizations: Reuters, Cheniere Energy, United, U.S . Environmental Protection Agency, Federal Energy Regulatory, Biden White, LNG, The Energy Department, FERC, U.S, Energy Information Administration, Reuters Graphics, Washington, Venture Global, CCS, SEC, Talos Energy, NextDecade, Thomson Locations: Freeport, U.S, Freeport , Texas, United States, Russia, Ukraine, Europe, Texas, Cameron, Louisiana, Brownsville , Texas

☆ Copper is critical to energy transition. The world is falling way behind on producing enough
▼ + stars: | 2023-09-27 | by ( Bob Woods | ) www.cnbc.com time to read: +8 min

watch nowIn the meantime, copper customers, in anticipation of shortages, are either delaying clean energy projects or reducing their need for copper, an economic principle known as demand destruction. Among other actions, it would dismantle most of the clean energy projects initiated by the Biden Administration. At that point, the consensus was that there would be a major copper supply response. That's presented the industry with a whole new era of copper demand, Adkerson said. China's economy has slowed, while those in the U.S. and Europe are striving to transition to clean energy.

Persons: Wood Mackenzie, Nick Pickens, we've, we're, Tesla, eyeing, Rishi Sunak, Richard Adkerson, he's, Adkerson, That's, Clayton Walker, Matt Murphy, Murphy, Walker Organizations: Polska Miedz SA, Bloomberg, Getty, EV, P, International Energy Agency, Heritage Foundation, Republican, Biden Administration, Phoenix, Resources, Freeport, Afp, Rio, Barclays, Rio Tinto, Caterpillar Locations: Glogow, Poland, Wood, EVs, McMoRan, Freeport, China, U.S, Europe, Papua, Freeport's Indonesia, Rio Tinto, Mongolia, Salt Lake City , Utah, Indonesia, Rio

☆ Investor Sarat Sethi says don’t chase this rally, but you can buy these safe stocks
▼ + stars: | 2023-08-10 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Chasing the market higher is a bad idea right now, and investors should turn to safe-haven sectors instead, investor Sarat Sethi warned. "I think as an equity investor, one needs to be really careful here and not chase some of these rallies, especially for stocks that are looking for lower discount rates." Stocks rose on the back of the data, with the Dow Jones Industrial Average trading more than 400 points higher at its session peak. Haleon and pharmaceutical giant Johnson & Johnson were also mentioned by Sethi. Johnson & Johnson is down 2% in 2023 but has risen more than 3% in August.

Persons: Sarat Sethi, Sethi, Dow Jones, Freeport's, Johnson Organizations: Reserve, Dow Jones Industrial, Johnson, GSK, Janssen Pharmaceuticals, Food and Drug Administration Locations: Freeport, McMoRan

[1/2] Indonesia's Investment Minister Bahlil Lahadalia gestures during an interview at his office in Jakarta, Indonesia, May 3, 2023. REUTERS/Ajeng Dinar UlfianaJAKARTA, May 3 (Reuters) - Indonesia's investment minister said on Wednesday that copper miner Freeport Indonesia must agree to sell an additional 10% stake to the government, as negotiations get underway for the U.S. company to extend its permit to operate in the country. "We ask for Freeport's 10% divestment through a state company for as cheap as possible. The $3.85 billion that Indonesia invested in the miner in 2018 via a state company has proven beneficial for the country, and the government expects to break even on that deal next year, he said. Freeport Indonesia said it produced 3 million tonnes of copper concentrate in 2022, an annual record.

The buying came as OPEC+ announced cuts totalling more than 1 million barrels per day on April 2 and after fund managers had already purchased 61 million barrels the previous week. Purchases centred on crude, in both Brent (+73 million barrels) and NYMEX and ICE WTI (+60 million barrels), with small sales of European gas oil (-2 million) and U.S. diesel (-3 million) and no change in U.S. gasoline. CRUDE SQUEEZEWith its surprise announcement, OPEC+ successfully squeezed the shorts in crude petroleum, with bearish positions reduced to the lowest for 11 weeks since late January. Since March 21, funds have purchased a total of 174 million barrels of crude, the fastest rate since December 2019 and before that September 2017. Bearish short positions were cut by 113 million barrels while fund managers added 61 million barrels of new bullish long positions.

HOUSTON, March 8 (Reuters) - Copper mining giants are scrambling to attract and retain workers, especially in the United States, amid rising global demand for the red metal for the green energy transition. While regulatory push back and water supply have been among the mining industry's historical challenges, access to talent has emerged as another worry. Workers are needed with skills to build and run mines producing lithium, nickel, copper and other metals to feed the green energy transition. We're just trying to make our work as attractive to people as we can," said Adkerson, who has run the company since 2003. Freeport peer Rio Tinto Ltd (RIO.AX)(RIO.L) has more than 4,000 employees in Utah, where the company runs the Kennecott copper mine.

☆ Natural gas prices fall to 25-month low as key Texas LNG facility looks to restart exports
▼ + stars: | 2023-02-13 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Natural gas prices declined to a 25-month low on Monday, falling as much as 5%. The fall came despite news that a key LNG export hub in Texas looks to restart operations. The Freeport liquefied natural gas plant first went offline in June of last year due to a fire. Meanwhile, forecasts for mild winter weather continued to weigh on natural gas prices as demand for the heating fuel lags. For now, natural gas is flowing to the Freeport plant even as exports have yet to resume.

☆ Freeport to restart liquefaction train at Texas LNG export plant this week
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

Feb 3 (Reuters) - Freeport LNG, the second-biggest U.S. liquefied natural gas (LNG) exporter, said on Friday it plans to restart one of three liquefaction trains at its long-idled Texas export plant this week. Liquefaction trains turn natural gas into LNG for export. In a filing with Texas environmental regulators, Freeport said it "anticipates the purge and restart of Liquefaction Train 3 will begin on Feb. 3 with Trains 2 and 1 following sequentially." The Freeport plant shut after a fire in June 2022. Despite the planned Freeport restart, however, U.S. gas futures fell about 3% to a 25-month low on Friday due to forecasts for milder weather in February.

☆ Japan's JERA raises FY22/23 earnings estimate on lower LNG procurement cost
▼ + stars: | 2023-01-30 | by ( Yuka Obayashi | ) www.reuters.com time to read: +2 min

Higher-than-expected profit from its trading unit, JERAGM, and stronger contribution from reselling some of the super-chilled fuel by JERA, one of the world's biggest LNG buyers, when its demand was lower, also boosted its earnings, Yoshida said. The revised guideline is based on an assumption that JERA will not receive the fuel from Freeport LNG, the second-biggest U.S. LNG exporter, by the end of March, according to Yoshida. The LNG company's plant shut after a pipeline explosion on June 8, 2022 and the restart has been delayed. In November, JERA President Satoshi Onoda predicted Freeport would resume a partial operation in mid-December and its shipments to be fully back by March. Despite the delay of Freeport's restart, JERA stuck to its 110 billion loss estimate from the fire, saying lower spot LNG prices are helping to offset an impact from the delay, Yoshida said.

☆ Gas starts to flow to Freeport LNG export plant in Texas - data shows
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

Jan 17 (Reuters) - Freeport LNG's long-shut liquefied natural gas (LNG) export plant in Texas started receiving pipeline natural gas over the long U.S. Martin Luther King Jr holiday weekend, according to Refinitiv data. Gas started flowing to Freeport on Jan. 14 and was on track to reach 69 million cubic feet per day (mmcfd) on Tuesday, according to data from Refinitiv. Freeport has not yet filed a request with federal regulators to restart the plant, according to a source familiar with the company's filings. Whenever Freeport returns, U.S. gas demand will jump. The plant can turn about 2.1 billion cubic feet per day (bcfd) of gas into LNG, which is about 2% of U.S. daily production.

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