Tuesday, May 30, 2006

Commodities News

Tokyo Commodity Exchange and Shanghai Futures Exchange sign MOU

The Tokyo Commodity Exchange (TOCOM) and Shanghai Futures Exchange (SHFE), two leading futures exchanges in Asia for metals, energy and rubber signed a Memorandum of Understanding (MoU) in Shanghai on May 26, 2006 to share information and establish a future cooperative framework. This occurred just before the 3rd Shanghai Derivatives Market Forum hosted by SHFE. -source

Eramet to invest $1.5 bln in Indonesian project

AKARTA, May 30 (Reuters) - French nickel miner Eramet said on Tuesday it plans to invest around $1.5 billion to develop the Weda Bay nickel project in eastern Indonesia.

Earlier this month, Eramet acquired nearly all shares of Toronto-listed Weda Bay Minerals Inc. The main investor in Indonesia's PT Weda Bay Nickel. Indonesian nickel producer PT Antam owns 10 percent of the Weda Bay project. -source

CRB Commodity Index chart

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