Freeport Mining News

Jakarta: Freeport could lose Grasberg control within 2 years

State holding company ready to take 51% stake says Indonesian deputy mines minister as dispute over ownership of iconic copper-gold mine intensifies.

Copper price falls on Grasberg production resumption

Freeport restarts supply to domestic smelter in Indonesia, but the copper concentrate export ban at iconic mine remains in place.

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.

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.

Copper price drops despite outages at world's biggest mines

Strike at Escondida, export ban and smelter problems at Grasberg and community clashes at Las Bambas.

Freeport reaches settlement with US Gov’t, Navajo Nation on uranium mines cleanup

Company will perform the work and federal government will contribute about half of the more than $600 million cleanup costs.

Congo state miner 'strongly opposed' to Lundin's sale of stake in Tenke

Gecamines claims it has pre-emptive rights to buy the stake as owner of the country’s mining titles.

Chinese tighten grip on Tenke mine as Lundin agrees to sell stake for $1.14bn

Canada’s Lundin, which owns 24% of Tenke, has finally agreed to sell its stake to a private equity firm from Asia’s richest nation.

Congo takes Freeport, Lundin to court over sale of Tenke Fungurume

The Congo mine, which cost $3 billion to build, holds one of the world’s largest known copper resources.

Strike hits Freeport’s Grasberg mine in Indonesia

More than 1,000 workers have gone on strike at Grasberg in a dispute with management over better conditions, including bonus payments.

Lundin poised for mega Congo copper deal

Lundin was outplayed in its last major deal, but now looks ready to pull the trigger on $1 billion-plus acquisition of one of Africa's richest copper mines.

Obstacles for Freeport's $2 billion oil deal

Bondholders want more from sale of top copper miner's oil and gas assets.

Lundin's agonizing Congo decision

Toronto miner has first dibs on controlling share of Tenke Fungurume which if contemplated expansion goes ahead would catapult mine into global top 5.

More Grasberg uncertainty for Freeport

No early talks on Indonesia licence extension, export permit expiring next week still being negotiated.

Workers at Freeport’s copper mine in Peru to down tools

About $22 billion worth of projects have been cancelled or delayed in Peru in recent years due mainly to anti-mining protests.

Freeport selling stake in Serbian copper project to Lundin

The $263 million deal is expected to close in the second quarter.

Freeport-McMoRan reports 4Q loss on metals, oil slump

Quarterly net loss attributable to common stock was $4.08 billion, or $3.47 per share, compared with a loss of $2.85 billion, or $2.75 per share, last year.

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.

Investors pile into Freeport on restructure hopes

Copper miner up nearly 7% after announcing cuts to its board and an "alternative course" oil and gas business acquired only three years ago.

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.

Chile’s Codelco to cut top positions in response to weak copper prices

Chief executive Nelson Pizarro warned Codelco is ready to “cut costs to the bones,” and revealed the layoff process has already started.

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.

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.

Freeport, Glencore lead stocks bloodbath driven by copper collapse

Copper tumbled Wednesday to fresh six-year lows, dipping below $5,500 a tonne. Stocks in miners of the industrial metal are getting hammered.