Freeport declares force majeure on nearby Grasberg copper contracts

Freeport-McMoRan has declared force majeure on nearby deliveries of copper concentrates from its Grasberg copper mine in Indonesia, with material from the mine still subject to an export ban, sources with knowledge of the matter told Metal Bulletin on Friday February 17.

Smelters across Asia that had scheduled shipments of Grasberg copper concentrates for delivery late in the first quarter and early in the second quarter were notified yesterday and today that Freeport cannot guarantee when it will next meet shipment schedules for material from the mine. Some other customers with tonnage deliveries scheduled for later in the year...

Published

Archie Hunter

February 17, 2017

12:41 GMT

London