Freeport declares force majeure at Indonesia copper mine

Freeport-McMoRan said on Friday it cannot meet contractual obligations for copper concentrate shipments from its Grasberg mine in Indonesia following a five-week export ban, the second big producer in a week to declare force majeure. Production at Freeport's giant mine in Papua, Indonesia, came to a standstill last week after the government banned copper concentrate exports on January 12, part of an effort to boost Indonesia's smelter industry.