Freeport McMoran Copper & Gold Inc. Mining News

Indonesia warns of tough response after Papuan rebels threaten Freeport

Indonesia's military said on Friday it was prepared to take tough measures against rebels who have threatened to "destroy" mining operations of Freeport-McMoRan Inc in the eastern province of Papua in their struggle for independence.

Armed separatists occupy villages near Freeport's Indonesia mine

Armed separatists have occupied five villages in Indonesia’s Papua province, threatening to disrupt Freeport-McMoRan Inc’s giant Grasberg copper mine, which has already been hit this year by labor unrest and a dispute over operating rights.

Freeport says Grasberg stake to fall to 29% – shares dumped

Investors ignore positive third quarter results to focus on lack of meaningful progress in talks with Indonesia over future of giant Grasberg mine.

Freeport pressed to give most of Grasberg copper-gold mine to Indonesia ASAP

Freeport agreed in August to divest a 51% stake in Grasberg to local interests in return for full operational control until 2041 plus fiscal and legal guarantees, but a final deal has still to be reached.

Freeport to yield control of giant Grasberg copper mine to Indonesia

The company has greed to reduce its stake in the Grasberg mine to 49% in exchange for licenses to operate the massive copper and gold pit until 2041.

Indonesia closer to mining deal with Freeport, but hurdles remain

Some issues still need to be resolved before the U.S. miner gets a new operating permit for its huge copper mine.

Peru hit by nationwide mining strike; govt says situation ‘under control’

The indefinite labour action involves 56 unions, which are protesting a government’s proposed reform they see as "anti-workers".

Freeport, Indonesia work out initial Grasberg exports deal

The Indonesian unit is now in the process of obtaining a full export permit.

Freeport’s Cerro Verde copper mine resumes normal operations

The news follows the end of a historically long 43-day strike at BHP Billiton’s Escondida, the world's biggest copper mine in neighbouring Chile.

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.