Macmahon Advances Service Agreement for Batu Hijau
Macmahon and PT Amman Mineral Nusa Tenggara (AMNT) have signed a binding agreement for mining services for the Batu Hijau copper-gold mine in Indonesia. The alliance-type agreement exchanges shares of Macmahon for one of the largest mining fleets in Indonesia. The agreement includes cost-plus payments with upside and downside sharing over the 14-year life-of-mine plan with the potential to extend the scope of work to include significant future development options. Macmahon has successfully operated in Indonesia since 2008 with existing projects at Martabe and Lhoknga, and sees this deal as a game changer for the company.
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Freeport Lays Off Striking Grasberg Miners
PT Freeport Indonesia has reportedly laid off striking miners at its Grasberg operation. On May 1, more than 10,000 miners who are represented by the Chemical, Energy and Mines Workers Union (CEMWU) embarked on 30 days of strike action in protest of the company’s furlough policy. Contractors joined the strike on May 9. The company declared the strike illegal, and announced that striking workers would be considered absent without leave. Any worker absent for five days would lose their job. So far, 178 workers have been terminated.
