16 Sep '11, 9am

West Papua: Strike slashes #Freeport mine production #Papua #Mining

Topics: Commodities Economy Government and Policy On Friday 16 September 2011, 17:17 SGT A strike at Freeport McMoRan's huge gold and copper mine in eastern Indonesia has slashed production by 230,000 tonnes a day, the energy and minerals ministry said Friday. The production cut at the mine in eastern Indonesia's Papua province represents daily losses of $6.7 million in government revenue, energy and minerals minister Darwin Zahedy Saleh told Dow Jones. "The government will help facilitate the negotiations. I will visit West Papua (on Friday)," Saleh said. Freeport's Grasberg mine sits on some of the world's richest gold and copper reserves, and the company's local unit is the largest single taxpayer to the Indonesian government, contributing billions of dollars a year to state coffers. Around 9,000 Freeport workers began a month-long strike on Thursday in Timika town dema...

Full article: http://sg.finance.yahoo.com/news/Indonesia-strike-slashes...

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