Reuters reported that Richard Adkerson, President and CEO of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), is worried about violence at the company's Grasberg mine in Indonesia, but is unconcerned about the government's plan to renegotiate mining contracts.
Indonesia is fortunate to be endowed with vast mineral wealth. The country is the world’s second largest producer of tin and nickel and, in 2009, according to the USGS, was the world’s fourth largest copper producer.
The two small bombs that exploded near Freeport-McMoRan Copper & Gold Inc.‘s Grasberg mine did not affect the operations. “There are no victims and Freeport operations are running normally,” Pangaribuan said. “Police are investigating the cause of the explosions.” Find the complete article here. The Grasberg mine is thought to be the world’s third largest [...]
Problems at their Grasberg mine led Freeport-McMoRan to reduce its production output, which further fueled supply concerns and led to copper’s 7-1/2 month low rebounding. China’s import data remains unclear. Freeport-McMoRan Copper & Gold Inc (FCX.N: Quote, Profile, Research, Stock Buzz) said on Wednesday it is lowering its 2008 copper and gold production outlook, due to an [...]
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