Friday, May 25, 2018

Distraction or disaster? Freeport's giant Indonesian mine haunted by audit report

By Bernadette Christina Munthe and Fergus Jensen JAKARTA (Reuters) - A state audit of operations at Indonesia's Grasberg mine has cast a cloud over the government's multi-billion-dollar deal to take a majority stake in the mine from Freeport McMoRan Inc and its partner Rio Tinto , according to government and company officials. In April, in follow-up action to the audit, the environment minister issued two decrees that gave Freeport six months to overhaul management of its mine waste, or tailings, at Grasberg, the world's second-biggest copper mine. One of the decrees said Freeport would be barred from any activities in areas that lack environmental permits

from Latest News Business on Firstpost https://ift.tt/2xaoeRU
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