Each day of the strike at Grasberg costs Freeport-McMoran 3 million pounds of copper and 5 thousand ounces of gold
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Freeport-McMoran Copper & Gold reported on Wednesday that the strike at its Grasberg operations in Papua, Indonesia, which began Sept. 15, is costing the company about 3 million pounds of copper and 5 thousand ounces of gold for each day of the work stoppage.
The company says that it is negotiating a two-year extension of its bi-annual collective labour agreement, which is scheduled for renewal on September 30, 2011.
On September 15, 2011, PT-FI’s union workforce, which includes approximately 8,000 hourly employees, commenced a 30-day strike. The company says there is no legal basis for the strike under Indonesian law.
Mining, milling and concentrate shipping activities are limited by the strike. About 50% of the workforce, primarily contractors and non-union staff employees, have reported to work to maintain critical operations so that full operations can resume quickly upon conclusion of the strike.
Image shows Grasberg operations from space
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Comments
Yrte
This strike is very suspicious.