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Grasberg Data

Nearby Locations

Nearby Location News

  • Alliance for West Wits’ Derewo project 2016-10-19

    West Wits Mining has entered into a business alliance for its Derewo River Gold project in Papua Province of Indonesia with PT Tobacom Del Mandiri (TDM). The alliance will see TDM required to deliver clear and clean certificates for the Derewo IUP and forestry permits in addition to managing site access and security.

  • Ok Tedi board approves PNG copper mine restart from March 1 2016-02-05
    Papua New Guinea copper miner Ok Tedi Mining Ltd said its board has approved a restart of its operations on March 1, more than five months after the mine was put on care and maintenance when drought cut off its transport links. The move will bring further metal to a copper market which is already reeling from a prolonged downturn in prices and a surge in mine supply just as demand from China cools, forcing high cost producers to cut output or shut down.

Grasberg Information

  • Ownership 2016-01-19
    Through a joint venture agreement with Freeport-McMoRan Inc. (Freeport), Rio Tinto is entitled to 40% of additional material mined as a consequence of expansions and developments of the Grasberg facilities since 1998.
  • General 2015-05-10
    PT Freeport Indonesia commenced mining operations at this site in 1972 and in 1988 discovered the Grasberg mine. Today, after significant production, the Grasberg mining district contains the world's largest recoverable copper reserve and the largest gold reserve. Two mines are currently in operation: the Grasberg open pit and the Deep Ore Zone (DOZ) underground block cave. In addition to the Grasberg open pit, four other ore bodies (the Grasberg block cave, Big Gossan, Deep MLZ, and Kucing Liar) are located in Block A. We have several projects in progress in the Grasberg minerals district, including developing the large scale, high-grade underground ore bodies located beneath and adjacent to the Grasberg open pit. These ore bodies are included in our proven and probable recoverable reserves.

Related News

  • Congo miner challenges Freeport sale of Tenke mine in international court 2016-10-19
    Democratic Republic of Congo state miner Gecamines has challenged Freeport McMoRan Inc's sale of its majority stake in the Tenke copper mine at the International Court of Arbitration in Paris, Gecamines said on Wednesday. Gecamines Secretary-general Deogratias Ngele told Reuters that Gecamines had asserted a right of first offer following Freeport's agreement in May to sell its 56% stake in Tenke, one of the world's largest copper mines, to China Molybdenum for $2.65-billion.
  • BBM underground study proves positive 2016-10-07

    A scoping study for underground extraction at Cokal Limited’s 60%-owned Bumi Barito Mineral (BBM) Coal Project in Central Kalimantan, Indonesia, has returned positive results. The study identifies potential mining blocks totalling 67 million tonnes of coking coal resources in seams D and J.
    The study recommends that the project be advanced through to a pre-feasibility study.

  • Freeport’s Congo mine sale faces more objections from Gecamines 2016-09-23
    Gecamines, the State-owned miner in the Democratic Republic of Congo, said any decision by Lundin Mining to also withdraw from the Tenke Fungurume copper mine could present another obstacle to Freeport McMoRan’s proposed sale of its stake in the project. By exiting at the same time and transferring full ownership of the project to new parties without securing Gecamines’ approval, Lundin and Freeport would be further violating the state-owned miner’s rights, Chairman Albert Yuma said by e-mail Friday. Gecamines must be permitted to match the offers for the stake, or it could stop any deal going through, he said.
  • Congo State miner submits offer for Freeport's Tenke copper project 2016-09-07
    Democratic Republic of Congo's State mining company Gecamines has submitted an offer to buy Freeport McMoRan's majority stake in the Tenke copper project, Gecamines' interim director-general Jacques Kamenga told Reuters on Wednesday. Freeport agreed in May to sell its 56% stake in Tenke, one of the world's largest copper mines, to China Molybdenum for $2.65-billion.
  • Lundin granted extension to decide on Tenke Fungurume buyout 2016-07-20
    Canadian base metals company Lundin Mining has been granted an extension to September 15 to decide if it wants to make an offer to buy Freeport McMoRan’s stake in TF Holdings, which owns 80% of the Tenke Fungurume copper mine in the Democratic Republic of Congo. Freeport holds a 70% stake in TF Holdings, with Lundin owning the balance.

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