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Discovered in 1988, the highaltitude Grasberg mine is what one industry executive calls a "freak of nature". It is the world's biggest gold mine and thirdbiggest copper mine and has five underlying ore bodies that could keep on producing until the end of the century.
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Jan 13, 2014 · JAKARTA, Indonesia — Indonesia, one of the world's biggest producers of minerals including gold, nickel, copper, tin and thermal coal, implemented a new law Sunday banning the export of unprocessed ore.
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As an affiliate of FreeportMcMoRan, One of the world's leading mining company, PT Freeport Indonesia to exploration, mining and processing ore containing copper, gold and silver in the highland areas of Mimika District, Papua Province, Indonesia.
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After years of wrangling, US mining giant Freeport McMoRan has agreed to give up its majority stake in the Grasberg copper and gold mine, ceding control to .
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Copper, that reddishorange metal that has been used to benefit civilization since 8000 is one of the most important metals used by modern industry. Prized for its ability to conduct heat and electricity, it is an element that helps facilitate the world as we know it, and is a focus of Vale's investment.
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Newmont Mining's Batu Hijau, Indonesia. Source: Wikimedia Commons. Like FreeportMcMoRan before it, gold and copper mining giant Newmont Mining said Indonesia's export ban on unprocessed ore that was imposed in January hurt shipments, raised costs, and will create problems down the road if a resolution is not reached.
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The laborious task of mining copper ore by hand made it difficult to obtain large quantities for production. During the Industrial Revolution, coal and steampowered machinery paved the way for a huge increase in copper production with mines smelting between 200 and 300 tons of copper ore per week.
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Indonesia's stateowned mining holding company PT Inalum is close to finalising a multibilliondollar deal to acquire a majority stake in the giant Grasberg copper mine, government officials said ...
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