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FCX Fcx Intl

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Last Updated: -
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Fcx Intl LSE:FCX London Ordinary Share GB0030756968 ORD 50P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

UPDATE: Shots Fired At Freeport Indonesia Vehicles Saturday

24/08/2009 6:21am

Dow Jones News


Fcx Intl (LSE:FCX)
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Unknown attackers fired shots at a truck convoy belonging to Freeport McMoRan Copper & Gold Inc.'s (FCX) Indonesian operations Saturday, but no one was injured in the attack and mining operations were unaffected, the company said Monday.

This was the latest in a string of shooting attacks on PT Freeport Indonesia personnel and property since July, raising new security concerns after the gold and copper mine in Papua province - the world's largest by production and reserves - had remained free of major incidents for several years.

"Mine production and milling are running normally," PT Freeport spokesman Mindo Pangaribuan told Dow Jones Newswires. The company earlier said in a statement that it has indefinitely suspended operations on part of the road that leads to its Grasberg mine, in eastern Indonesia.

A company official said separately that the stretch of road that has been closed isn't within the company's mining area.

Recent Attacks

An Australian mine technician and an Indonesian security guard working for PT Freeport were killed last month in an attack. A police officer also died of injuries sustained during a recent attack.

Police investigations have led to several people - at least one of them an employee of Freeport itself - being charged in connection with the attacks.

PT Freeport has frequently contended with violence around Grasberg since discovering the deposit in the late 1980s.

The mine has been targeted by separatists, who since the 1970s have sought independence - sometimes through violence - in what is among the poorest parts of Indonesia.

Security in Papua has generally improved in the past few years, in part due to new laws that give the local government more say over revenue from its natural resources, but violent incidents haven't completely stopped.

In 2002, two U.S. school teachers were killed on the same road as Saturday's attack, while in 2006 illegal miners near Grasberg rioted and burned Freeport property after being forced off the land.

PT Freeport targets output of 1.3 billion pounds of copper and 2.2 million ounces of gold from Grasberg this year.

-By Reuben Carder, Dow Jones Newswires; 62 21 3983 1277; Reuben.Carder@dowjones.com

 
 

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