20 November 2019 (closed)
USD/IDR (14,097) +6.00 +0.04%
EUR/IDR (15,610) +9.46 +0.06%
Jakarta Composite Index (6,155.11) +3.02 +0.05%
Freeport Indonesia, subsidiary of American-based Freeport McMoran Copper and Gold, is allowed to continue its open-pit mining activities. The company was forced to halt its mining activities temporarily after an underground tunnel collapsed in mid-May, resulting in the deaths of 28 people. After a thorough evaluation by an independent team of investigators, Freeport is allowed to resume operations. The permission was granted by Indonesia's Ministry of Energy and Mineral Resources.
Freeport is a private company which operates the Grasberg mine in Timika, Papua (in the far eastern part of Indonesia). This vast mine is the world's largest gold mine and third-largest copper mine. The company said that safety has improved as a result of the disastrous collapse. At the same time, the company stressed that such an incident had never occurred before.