Freeport cuts 75 positions in Jakarta

PT Freeport Indonesia (PTFI) has stopped recruitment for non-essential jobs and cut 75 positions in its Jakarta office as part of efficiency program to cope with the slump in metal prices amid global financial crisis.

Company spokesman Mindo Pangaribuan said in a statement to Petromindo.com on Wednesday that the firm had coordinated with the government and followed the existing regulation in implementing the efficiency porgram.

"The cost-control measures will however not affect PT Freeport Indonesia's production target," he said.

On Dec. 3, U.S. mining giant Freeport- McMoRan Copper & Gold Inc., PTFI's holding company, said that its Indonesian copper and gold sales projection in 2009 remained unchanged.

It said 2009 sales from PTFI would be around 1.3 billion pounds of copper and 2.1 million ounces of gold, compared with expected sales of 1.1 billion pounds of copper and 1.1 million ounces of gold for 2008.

The company, however, said it would revise 2009 operation plan.

?The revised operating plans incorporate operating costs reductions, including the effect of lower energy costs and favorable foreign exchange impacts and reduced capital spending with no changes in 2009 production plans,? it said. (Godang)