PT Freeport halts all operations at Grasberg

Jun 04, 2013 | 04:30 PM | Shivani Singh

Tags  PT Freeport Indonesia, Grasberg Mine, copper, gold, collapse, accident, Peter Richardson, Morgan Stanley Daisy Primayanti

SINGAPORE — PT Freeport Indonesia has suspended all operations at its Grasberg copper mine—including the production of concentrates—until an accident investigation is completed, raising concerns about how long it will be able to supply metal to the market.

"After the Ministry of Mines’ announcement to suspend all operations, we suspended all our operations, including open-pit, and we are not producing concentrates at this time," Daisy Primayanti, PT Freeport Indonesia’s vice president of corporate communications, said in an e-mail to AMM sister publication Metal Bulletin.

PT Freeport Indonesia, a subsidiary of Freeport-McMoRan Copper & Gold Inc., had restarted operations at Grasberg on May 28 after being shut for two weeks following a tunnel collapse in an underground training facility on May 14 that killed 28 people. A truck driver was killed June 1 in a separate incident.

The company said that the government investigation will last two months, while government officials stated that the probe will keep the mine closed for three months, according to local media reports, adding to uncertainty over copper concentrate supplies. ....

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