Freeport McMoran Copper & Gold Inc. Mining News

Workers at Freeport’s Cerro Verde copper mine to go on indefinite strike

Around 1,300 unionized miners plan to start an indefinite stoppage at Peru's largest copper mine beginning March 24.

Chinese data, strikes bring copper price back to boil

China releases scorching industry output growth, fixed investment numbers for January-February. Third attempt to restart talks at giant Chile mine fails.

Copper supply disruptions push prices up

Disputes at BHP Billiton’s Escondida mine in Chile, the world's biggest copper mine, and Freeport’s Grasberg and Cerro Verde mines, are also having a significant effect on global supplies of concentrate.

Freeport’s Cerro Verde copper mine in Peru hit by strike

The mine produced just under 500,000 tonnes of the red metal last year, making it Peru's largest copper operation.

Freeport halts Grasberg mine, begins sending workers home

The firm has not been able to ship copper from the mine in over a month due to a ban on concentrate exports that kicked in on January 12.

Freeport may curb Indonesia operations if Grasberg deal delayed further

Miner says that each month of delay in obtaining approval to export means production would be reduced by 70 million pounds of copper and 70,000 ounces of gold.

Freeport may resume copper exports from Indonesia in ‘a day or two’ — authorities

Government is considering to extend the miner a temporary permit, valid for up to six months, which would pave the way for Freeport to resume exports from Grasberg.

Nickel prices plummet as Indonesia eases export ban

Far-reaching new mining rules ease a controversial ban on exports of nickel ore and bauxite.

Three large miners that are still inexpensive

There are some positives.

Freeport axes oil and gas workforce as it posts sixth straight loss

The company, which is the US biggest miner by market value, is cutting 25% of its workforce to reduce debt.

Freeport mulls selling minority stake in copper mine portfolio

Freeport McMoRan Inc. is considering selling a minority stake in its portfolio of copper mines, sources familiar with the matter said, one of the options on the table as the company scrambles to slash its $20-billion (U.S.) debt load.

Indonesia to ease mineral export ban from 2017

The measure is part of a wider revision of the 2009 mining law that led to Indonesia's export edicts and other regulations.

Freeport-McMoRan sells 13 pct stake in Morenci Mine to Sumitomo for $1 billion

Morenci is an open-pit, copper mine located in Arizona. In 2015, FCX’s 85 percent share of Morenci revenues totaled $2.2 billion and production and delivery costs totaled $1.5 billion.

Freeport Indonesia boss steps down

Maroef Sjamsuddin's decision comes less than a month after the chairman of the U.S. mining giant stepped down.

Freeport-McMoRan chairman resigns, shares plummet

The company's co-founder James Moffett will step down as chairman and quit the board.

Freeport follows Anglo’s lead: suspends dividend, cuts spending, eyes assets sales

The U.S. miner became the latest mining company to announced drastic measures aimed at preserving cash amid a deepening commodity prices rout.

Indonesia probing allegations of extortion to Freeport-McMoRan by senior officials

The investigation aims to determine whether senior officials tried extorting Freeport’s Indonesian unit in return for letting the company continue to operate in the country.

Freeport logs third-quarter loss after massive oil and gas write-down

The U.S’s largest mining company unveils plans to further slash copper and molybdenum output.

Indonesia promises Freeport to extend Grasberg contract

The approval will include “the same rights and the same level of legal and fiscal certainty provided under its contract of work,” the company said without elaborating.

Copper leads fall in metal prices on China worries

So far, copper prices have failed to react significantly to news of supply disruptions, remaining more responsive to news from China, the world’s largest consumer.

Freeport lays off 650, slows operations at Chile's El Abra mine

The Arizona-based mining company also said it is partially suspending operations at the complex until mid-September, as it cuts mining rates in half.

Freeport-McMoRan cuts spending, production and jobs: shares soar

The miner has responded to deteriorating market conditions by slashing spending and cutting jobs, mostly at its North American operations.

Freeport cancels copper exports from Indonesia as permit expires

The company, which runs the massive Grasberg mine in Papua, has stopped exporting since last month.

Antofagasta cuts copper output forecast for the year

This is the second time this year that the London-listed miner slashes its annual copper production guidance.

Peru mining investment down 14% on unrest, violence, low metal prices

Total for this year may be $7.7 billion, down from 2014's $8.7 billion and significantly lower than a record $10 billion in 2013.