Grasberg Mining News

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.

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 turns higher again – Grasberg gashed

Top listed copper producer Freeport says negotiations with Indonesia going nowhere – will slash production at iconic mine by 60%.

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.

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.

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 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.

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.

Move over Codelco: Freeport plans to be the world’s No.1 copper miner

But China’s slowdown, rising costs and falling prices may get in the way.

Freeport axes dividend by 84% amid weak commodity prices

The copper and gold miner will pay a dividend of 5 cents.

Copper up, FCX down as workers halt production at Grasberg

The copper price recovered from a one-month low on Wednesday to gain 3% on Thursday, as the metal markets reacted to a dovish Fed statement and news out of Indonesia that production has stopped at the Grasberg mine.

Freeport-McMoRan slashes capital spending, to divest stake in Indonesian unit

The U.S. largest miner by market value and revenue has already slashed its capital budget for the year by $2bn and it is ready to make further cuts.

Freeport-McMoRan's profit down 32% amid lower copper, gold prices

The U.S. largest miner by market value and revenue is also dealing with a strike threat at its Indonesia's Grasberg copper and gold mine, which recently resumed operations.