Grasberg mine
Grasberg mine open pit.
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| Location | |
|---|---|
| Province | Papua |
| Country | Indonesia |
| Coordinates | 4°3′10″S 137°6′57″E / 4.05278°S 137.11583°ECoordinates: 4°3′10″S 137°6′57″E / 4.05278°S 137.11583°E |
| Production | |
| Products | |
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| Financial year | 2006 |
| Owner | |
| Company | Freeport-McMoRan |
The Grasberg Mine is the largest gold mine and the third largest copper mine in the world. It is located in the province of Papua in Indonesia near Puncak Jaya, the highest mountain in Papua. It has 19,500 employees. It is mostly owned by Freeport-McMoRan (FCX), which owns 90.64% of PT Freeport Indonesia, the principal operating subsidiary in Indonesia, including 9.36% owned through its wholly owned subsidiary, PT Indocopper Investama. The government of Indonesia owns the remaining 9.36% of PT Freeport Indonesia. FCX operates under an agreement with the government of Indonesia, which allows Freeport to conduct exploration, mining and production activities in a 27,400-acre area (Block A). It also conducts exploration activities in an 413,000-acre area (Block B). All of Freeport's proven and probable mineral reserves and current mining operations are located in Block A. The 2006 production was 610,800 tonnes of copper; 58,474,392 grams of gold; and 174,458,971 grams of silver.
In 1936, Dutch geologist Jean Jacques Dozy was a member of an expedition that scaled Mount Carstensz, the highest mountain in the Dutch East Indies. While there, he made notes of a peculiar black rock with greenish coloring, and spent several weeks estimating the extent of the gold and copper deposits. In 1939, he filed a report about the Ertsberg (Dutch for "ore mountain"). He was working for Nederlandsche Nieuw Guinea Petroleum Maatschappij (NNGPM), an exploration company formed by Shell in 1935, with 40% Standard Vacuum Oil Company interest and 20% Far Pacific investments (Chevron subsidiary).
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