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Grasberg back on track: Freeport

THE strike at the giant Grasberg mine in Indonesia’s Papua province helped slash Freeport-McMoRan’s December quarter net profit by almost 60% as copper production dived 18% year-on-year while gold output fell 71%. Yet Grasberg is tipped to hit full production soon.

Blair Price

Grasberg back on track: Freeport

Freeport’s net income reached $US640 million for the recent quarter – a 59% fall from the $1.55 billion generated in the corresponding period of 2010 as the strike for three consecutive months at Grasberg...

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