November 2, 1995 |
In an unprecedented action against environmental abuse by an American company overseas, the Clinton Administration on Wednesday cut off $100 million in federal insurance to a U.S. company whose gold and copper mining in Indonesia was said to be damaging tropical rain forests and rivers. The Overseas Private Investment Corp., the federal agency that provides insurance for U.S.
April 24, 1998 |
A labor dispute with Indonesian contract workers employed by a Fluor Corp. subsidiary has been resolved after slowing down work for several days at the $2-billion Batu Hijau copper and gold mine in Indonesia, mine operator Newmont Mining Co. said Thursday. Denver-based Newmont said that the dispute, which resulted in minor property damage, began Friday when local workers confronted general contractor Fluor Daniel over wage policies.
October 31, 1989 |
Fluor Daniel said Monday that it has won a $300-million contract to expand a copper mining operation in Indonesia but confirmed that another contract--estimated to be worth $450 million--for construction of a cereal plant in Tennessee has been put on hold. The Indonesia project is the second major copper mining contract that Fluor Daniel, the primary engineering and construction arm of Fluor Corp., has won in 12 months.
March 6, 1989 |
In a remote part of Western Australia, a two-hour drive from the nearest town of Meekatharra, Homestake Gold of Australia Ltd. is building a water supply for a small town it is developing to support its gold find. When gold production starts late this year at the Fortnum mine, workers will be flown into the remote location on a rotating basis. Meanwhile, northward across the India Ocean, Newmont Mining's Australian subsidiary is exploring for gold on four islands of Indonesia.
March 29, 1997 |
Indonesia's government plans to put mining contracts on hold until it's certain of the size of Calgary, Canada-based Bre-X Minerals Ltd.'s Busang deposit. The delay will affect dozens of companies, including Canada's Indomin Resources Ltd., Placer Dome Inc. and Barrick Gold Corp., that want to do exploration work in the country. Bre-X won't receive its permit until the size of the deposit is known, said Kuntoro Mangkusubroto, Indonesia's director general of mining.
April 20, 1996 |
U.S. Reaches Settlement With Mining Firm: Overseas Private Investment Corp., a U.S. government finance agency, and New Orleans-based Freeport-McMoRan Copper & Gold Inc. settled a bitter dispute after the mining company agreed to establish a $100-million trust fund to finance environmental cleanup measures at its giant copper mine in Irian Jaya, Indonesia. In exchange, OPIC agreed to reinstate the company's $100-million political risk insurance through the end of the year.