uses big shovels and trucks in Grasberg to produce materials classified as ores or waste depending on the economic value of the materials.
In recent discussions, representatives of the Government of Indonesia requested that PTFI consider a reduction in its Grasberg open pit ore production pending completion of technical studies and development of recommendations in response to the May 4th incident.
PTFI has conducted its mining operations in Indonesia since 1972 in a positive relationship with the Government of Indonesia.
The PTFI mining operation incorporates environmental management
The PTFI mining operation is in material compliance with current
While Montgomery Watson found that PTFI has fulfilled its environmental commitments and requirements, the auditors commented that PTFI ".
Subsequently, cash flows from the expanded operations will be shared 60% by PTFI
and 40% by RTZ-CRA.
PTFI mining operations incorporate environmental management systems supported by environmental programs and resources that achieve the standard of practice for world-scale mines, Montgomery Watson found the Environmental Management System (EMS) developed and implemented by PTFI to be exemplary and a showcase for the mining industry.
Moreover, PTFI has completed comprehensive technical evaluations of alternative tailings disposal options and has selected the most appropriate management system for the site conditions.
While Montgomery Watson found that PTFL has fulfilled its environmental commitments and requirements, the auditors commented that PTFI ".
PTFI is expected to use these proceeds to reduce debt.
FCX is engaged in the exploration, mining and milling of copper, gold, and silver in Irian Jaya, Indonesia through its PTFI subsidiary, and in the smelting and refining of copper concentrates in Spain through its Rio Tinto Minera subsidiary.