World's top listed copper miner cuts production outlook for the year, but impact of dispute with Jakarta more contained than thought.
Freeport-McMoRan Mining News
The Indonesian unit is now in the process of obtaining a full export permit.
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.
State holding company ready to take 51% stake says Indonesian deputy mines minister as dispute over ownership of iconic copper-gold mine intensifies.
Freeport restarts supply to domestic smelter in Indonesia, but the copper concentrate export ban at iconic mine remains in place.
Around 1,300 unionized miners plan to start an indefinite stoppage at Peru's largest copper mine beginning March 24.
China releases scorching industry output growth, fixed investment numbers for January-February. Third attempt to restart talks at giant Chile mine fails.
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.
The mine produced just under 500,000 tonnes of the red metal last year, making it Peru's largest copper operation.
Strike at Freeport's giant Peru mine takes offline world's three biggest mines, but worries about demand drops copper after huge jump in warehouse stocks.
Freeport sees "fundamental shift" at iconic mine as Indonesian spat gets heated and dispute at giant Escondida copper mine in floods-hit Chile turns ugly.
Top listed copper producer Freeport says negotiations with Indonesia going nowhere – will slash production at iconic mine by 60%.
The meeting is not a return to mediation but an attempt to agree to return to the negotiating table, the union said.
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.
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.
US copper giant to be given temporary exemption under new mining rules to resume copper exports from Grasberg mine.
Chile closes ports servicing some of the world's biggest copper mines due to rough seas while Escondida strike looms.
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.
Indonesia's concentrate export ban, new ownership rules and licence conversion worry investors in Arizona copper giant.
World's largest listed copper miner said Indonesian export ban will force it to slash spending and operate its giant Grasberg operations at 40% capacity.
Company will perform the work and federal government will contribute about half of the more than $600 million cleanup costs.
Far-reaching new mining rules ease a controversial ban on exports of nickel ore and bauxite.
Freeport-McMorRan (NYSE:FCX) has divested another portion of its substantial oil and gas assets as the number one publicly-held copper producer continues on a path of debt reduction.
Congolese security forces accused of shooting civilians in the southern city of Lubumbashi.
Gecamines claims it has pre-emptive rights to buy the stake as owner of the country’s mining titles.