Strike ends at Freeport-McMoRan’s Grasberg open pit mine
According to a statement released by Freeport-McMoRan (FCX) on Monday, October 10, the strike at its Grasberg open pit mine has come to an end. Freeport-McMoRan added that the ten-day-long dispute between FCX management and the workers’ union ended after management reached an agreement regarding conditions and bonus payments.
The strike at the Grasberg open pit mine—the world’s largest gold mine and the third-largest copper mine—started during the week ended October 7 when 1,200 workers demanded an increase in their monthly bonus.
Since the beginning of 2016, Freeport-McMoRan (FCX) has gained more than 50%. At 12:30 PM EDT on Monday, October 10, Freeport-McMoRan was trading at $10.33, a gain of ~1.93%.