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Freeport-McMoRan: Experiencing Work Interruptions At Indonesia Unit

NEW YORK -(Dow Jones)- Violence and intimidation by employees at Freeport-McMoRan Copper & Gold Inc.'s (FCX) Indonesian unit has disrupted the company's efforts to resume normal operations there after last year's three-month strike, the company said. A strike at Freeport's Grasberg copper and gold mine, one of the world's largest, ended in December with an agreement for a pay increase, paving the way for about 8,000 workers to gradually return to the job. At least eight people were killed in violence triggered by the strike. "Certain of the returning workers have engaged in acts of violence and intimidation against nonstriking workers and supervisory personnel," Eric Kinneberg, a spokesman for the Phoenix-based company, said in an emailed statement. Freeport's Indonesian subsidiary "is complying with the terms of the recent collective labor agreement with its union," Kinneberg said. He added that the company was working with union and government officials to resolve the issues with the returning workers. Freeport, the largest publicly traded copper mining company, reported last month that its fourth-quarter earnings fell 59%, largely because of production lost during the strike. The company invoked contract terms allowing it to suspend shipments from Grasberg in October. -By Matt Day, Dow Jones Newswires; 212-416-4986; matt.day@dowjones.com

Stock News for Freeport Mcmoran (FCX)
DateTimeHeadline
05/23/201314:31:36Copper Hits One-Week Low as Chinese Manufacturing Disappoints
05/23/201310:01:11Copper Slumps on Weak Chinese Manufacturing, Fed Worries
05/22/201313:58:09Copper Ends Near Six-Week High, Trims Gains on Bernanke
05/22/201302:43:10Freeport Indonesia CEO: Uncertain When Mining Operations to Resume
05/20/201316:04:07Copper Gains on Mine Stoppage Despite China Property Worries
05/20/201315:33:11Correction to Plains Exploration Merger Story
05/20/201315:30:10Plains Exploration Board Approves Freeport-McMoRan Deal
05/20/201315:04:49Plains Exploration Board Approves Merger With Freeport-McMoRan
05/20/201310:16:48Copper Inches Up As Supply Disruptions Offset Demand Worries
05/20/201310:00:02Indonesian Mine Still Closed; Hopes Fade for Trapped
05/20/201309:29:17U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
05/20/201308:52:05Plains Exploration to Pay $3 Special Dividend if Freeport-McMoRan...
05/17/201313:56:56Copper Rises on Brighter Economic Data, Supply Disruption
05/17/201309:31:12Copper Climbs on Higher EU Auto Sales, Grasberg Disruption
05/16/201308:58:35Plains: Majority of Voting Shareholders Choose Freeport Stock...
05/15/201323:46:39Indonesia Police: Another Worker Found Dead at Freeport's Collapsed...
05/15/201301:03:104 Killed, 23 Still Trapped in Freeport Mine Tunnel Collapse -Indonesia...
05/14/201310:40:33Copper Falls on Worries of Weaker Demand From Europe, China
05/14/201306:18:41Freeport Indonesia Tunnel Collapse Is Outside of Mining Areas...
05/13/201308:24:38Plains Exploration CEO Urges Shareholders to Back Freeport-McMoRan...

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