PHOENIX (Yosefardi) – Freeport-McMoRan Copper & Gold Inc. update on the status of PT Freeport Indonesia’s (PT-FI) Grasberg operations in Papua, Indonesia following the May 14, 2013 accident at an underground training facility, saying the estimated daily impact of the temporary suspension of operations approximates 3 million pounds of copper and 3,000 ounces of gold.
For the period between May 15, 2013 and June 11, 2013, the estimated impact on PT-FI production approximated 80 million pounds of copper and 80,000 ounces of gold.
PT-FI is actively working with government authorities on a phased restart of operations and will update its production outlook as additional information becomes available.
The rescue and recovery effort for accident was completed on May 21, 2013. Most regrettably, there were 28 fatalities and 10 injuries associated with the accident.
The incident is being thoroughly investigated by PT-FI, international experts, the Indonesian Department of Energy and Mineral Resources (DEMR) and other government authorities with PT-FI’s full cooperation. Representatives of the DEMR have completed a preliminary review of the incident and have issued several recommendations, which PT-FI is addressing.
Because of the temporary disruption, PT-FI has notified its customers of a Force Majeure event under its concentrate sales agreements.