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Freeport in 'at-will' pay deal with CEO, grants $36 million in stock

(Reuters) - Freeport-McMoRan Copper & Gold Inc <FCX.N> said on Monday it reached an agreement with Chief Executive Richard Adkerson to cancel his employment agreement, giving up his guaranteed salary, benefits and rights to substantial severance in exchange for restricted stock worth about $36 million. Adkerson, 66, will stay on as president and CEO of Freeport, the world's largest publicly listed copper miner, under a new "at will" agreement, with pay and benefits to be determined by the company's compensation committee.

Freeport declares force majeure at Indonesia mine

US miner Freeport-McMoRan on Wednesday declared force majeure on shipments from its Indonesian mine to avoid liability on existing orders after production was suspended due to an accident. Production was suspended on May 15 at Grasberg, a huge gold and copper mine in the remote eastern province of Papua, the day after a tunnel caved in, killing 28 workers. Freeport's Indonesian subsidiary restarted some operations after around two weeks but the government ordered a halt in all production just days later when a worker was killed in a new accident.

Government probe into Freeport Indonesia accident unlikely to take months

JAKARTA (Reuters) - A government-led investigation into the tunnel collapse that killed 28 people at Freeport McMoRan Copper and Gold Inc's <FCX.N> copper mine in Indonesia should not take months to complete, the head of the probe said on Friday. Freeport suspended operations at the Grasberg complex on May 15, a day after a training tunnel, outside the mining area and around 500 meters (yards) from the entrance of the Big Gossan mine, caved in on 38 workers.

Worker dies in hospital after accident at giant US-owned gold and copper mine in Indonesia

TIMIKA, Indonesia - A truck driver who was critically injured in an accident at a giant U.S.-owned mine in Indonesia died Saturday in a hospital. Mine operator PT Freeport Indonesia said liquid ore material flowed into a truck during maintenance activities on Friday, injuring the vehicle's Indonesian driver. He died late Saturday. On May 14, a tunnel inside the Big Gossan facility collapsed, killing 28 of 38 workers who were undergoing safety training in an underground classroom.

Freeport Indonesia union says worker killed in new mine collapse

JAKARTA (Reuters) - One worker was killed after a new underground tunnel collapsed on Friday at Freeport McMoRan Copper and Gold Inc's Indonesia mine, a union official said, calling on miners to stop work at the world's second-biggest copper mine. Company officials could not be immediately reached, but this would be the second deadly accident at the remote Papua complex in just over two weeks after 28 people were killed in another collapse.

All 28 bodies recovered from Indonesia mine tunnel

Rescuers have recovered seven more bodies from a collapsed mine tunnel in eastern Indonesia, its US operator said Wednesday, taking the accident's final toll to 28. The rescue team "recovered and identified the last of the remains of the buried workers early this morning", the Indonesian subsidiary of Freeport-McMoRan said in a statement. Thirty-eight workers were initially trapped on May 14 when part of the tunnel caved in at Freeport's Grasberg, one of the world's biggest gold and copper mines high in the mountains of remote Papua province.

Freeport reviewing safety at Indonesia mine after tunnel collapse

JAKARTA (Reuters) - Freeport McMoRan Copper & Gold Inc is reviewing the safety of its underground operations at its Indonesian mine in Papua after a tunnel collapse last week that killed 28 people, the company's chief executive said on Wednesday. Freeport closed the remote Papua mine on Wednesday last week, a day after a training tunnel away from its main operations fell in on 38 workers. Ten of the workers were rescued. All have now been accounted for, and a search is continuing to retrieve the bodies of seven of the dead workers.

Death toll rises to five in Indonesia mine collapse

Rescuers pulled one more body from a collapsed mine tunnel in eastern Indonesia on Thursday, officials said, taking the death toll to five as search teams battled to reach 23 others still trapped. Ten workers have been rescued alive following the accident on Tuesday at US firm Freeport-McMoRan's Grasberg, one of the world's biggest gold and copper mines high in the mountains of rugged Papua province.

Rescuers struggle to reach trapped Indonesian miners

Rescuers dug through rocks and earth Wednesday as they struggled to reach 25 workers trapped underground after a tunnel collapsed at a US-owned mine in eastern Indonesia, killing at least four. Ten people have so far been rescued following Tuesday's accident at Freeport-McMoRan's Grasberg, one of the world's biggest gold and copper mines in the mountains of rugged Papua province. Freeport Indonesia, the local subsidiary of the US firm, said it had suspended all production at Grasberg "as a sign of solidarity and sympathy" for the workers.

Four dead, 25 trapped after Indonesia mine collapse

Rescuers struggled Wednesday to reach 25 workers trapped underground at a US-owned mine in remote eastern Indonesia after a tunnel caved in, with four others confirmed dead. They cleared debris blocking the tunnel at Freeport-McMoRan's Grasberg gold and copper mine with saws and wheelbarrows, but cramped conditions prevented them from using heavy earth-moving equipment.
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