COPPER MINING: Work resumes at Grasberg

INDONESIA – Freeport-McMoRan Copper & Gold of Phoenix has begun the restart of mining and milling at the Grasberg open pit copper mine in the state of Papua. The operation has been affected labour-related problems since the last half...

Topics

Commodities

Regions

Tags

Companies

INDONESIA – Freeport-McMoRan Copper & Gold of Phoenix has begun the restart of mining and milling at the Grasberg open pit copper mine in the state of Papua. The operation has been affected labour-related problems since the last half of 2011.

Workers struck on Sept. 15, 2011, to protest lagging labour talks. Freeport agreed to increase base wages by 24 % in the first year and by 13% in the second year of the new contract. Benefits were also improved, including better housing allowances, education assistance and retirement savings plan. The company also agreed to pay a one-time signing bonus equivalent to three months’ salary. Employees began returning to work on Dec. 14.

Employees stopped work again in the last week of February 2012, saying that the salaries of workers who participated in the earlier strike had not been increased as promised in the contract. The stoppage was marred by intimidation and violence between workers who joined the strike and those who did not.

On March 15, Freeport said the latest shutdown is over and full production is expected to be reached in Q2 2012. The company said the work stoppage will reduce Q1 2012 output by approximately 80 million lb of copper and 125,000 oz of gold. Freeport sold 846 million lb of copper and 1.27 million oz of gold from its Indonesian operations in 2011.

Complete information is posted at FCX.com.

Comments

Your email address will not be published. Required fields are marked *

Jul 15 2024 - Jul 16 2024
Jul 17 2024 - Jul 18 2024
Jul 22 2024 - Jul 23 2024
Jul 29 2024 - Jul 30 2024