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Freeport-McMoRan Copper & Gold Declares Force Majeure at Grasberg
Jun. 12, 2013 08:45AM PST
Base Metals Investing Reuters reported that Freeport-McMoRan Copper & Gold Inc has declared force majeure at its Grasberg mine after a series of accidents has shut them down while the government conducts a probe.
Reuters reported thatĀ Freeport-McMoRan Copper & Gold Inc has declared force majeure at its Grasberg mine after a series of accidents has shut them down while the government conducts a probe.
As quoted in the Reuters report:
The announcement, widely expected by metals traders, sent Freeport shares up 2.9 percent to $29.86 on Wednesday morning. Benchmark three-month copper was up nearly 1 percent, on signs of tightening supply, including the Grasberg shutdown.