Freeport McMoRan Nears Agreement With Striking Grasberg Workers -Union Spokesman
13 Dezember 2011 - 9:01AM
Dow Jones News
Freeport-McMoRan Copper & Gold Inc. (FCX) will likely reach
an agreement with workers by Thursday to end a three-month strike
at its Grasberg copper & gold mine in eastern Indonesia, a
union spokesman said Tuesday.
"As of today, there has been no agreement, but we expect over
the next two days, the two parties can reach an agreement, so that
we can avoid further strike, which we had planned to extend until
Jan. 15," Juli Parrorongan told Dow Jones Newswires.
Freeport Indonesia's spokesman Ramdani Sirait said there hasn't
been any agreement as of Tuesday and declined to speculate about
whether an agreement will be signed soon.
Workers at Grasberg have been on strike since Sept. 15 in a
dispute over pay.
The strike has lent support to copper futures on the London
Metal Exchange, and prices are expected to come under pressure once
the dispute is resolved.
Copper is trading around $7,596.75/ton, down 0.1% from its
previous settlement.
-By Deden Sudrajat, contributing to Dow Jones Newswires; 62 21
39831277; andreasismar.sandiwan@dowjones.com
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