The incident happened at Gosowong's Kencana mine — the same area where two men were trapped underground for eight days in December 2010.
Indonesia Mining News
The two sides have yet to resolve a government demand that the US firm first pay a $530 million deposit.
Maroef Sjamsuddin's decision comes less than a month after the chairman of the U.S. mining giant stepped down.
The last time the weather event was present, it wrought havoc on the mining industry in Australia, with thermal and coking coal mines in Queensland hit by flooding from cyclones and heavy rain.
The company's co-founder James Moffett will step down as chairman and quit the board.
The U.S. miner became the latest mining company to announced drastic measures aimed at preserving cash amid a deepening commodity prices rout.
Amid corruption scandal and contradicting earlier safeguards, Indonesia says won't make a decision on future of giant copper and gold mine until 2019.
Exports suspended for nearly two months over building of smelter.
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.
The country's government is in the midst of reviewing its mining legislation, particularly mandatory divestment rules and contract extensions.
Also approves expansion of Tanami mine in Australia.
The U.S’s largest mining company unveils plans to further slash copper and molybdenum output.
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.
Indonesia is not renewing Newmont's copper concentrate export permit according to officials.
The Tujuh Bukit project reflects both the attractions and difficulties facing foreign companies working in Indonesia's mining sector.
The miner has responded to deteriorating market conditions by slashing spending and cutting jobs, mostly at its North American operations.
The company, which runs the massive Grasberg mine in Papua, has stopped exporting since last month.
Canadian mine takes top honours but Russia and USA dominate the rankings.
The deal values the Indonesia-focused coal miner at more than $200 million.
The news comes after Indonesia’s last week decision to drop allegations that the miner had defrauded the state when buying the East Kalimantan coal project.
The recurring phenomenon — a warming of the Pacific Ocean as part of a complex cycle linking atmosphere and ocean — has in the past affected mine output, triggering price spikes.
But China’s slowdown, rising costs and falling prices may get in the way.
The copper and gold miner will pay a dividend of 5 cents.
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.
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.