Freeport Indonesia greatly contributes to drop in world gold output in H1 2002
Wednesday, September 25 2002 - 04:05 AM WIB
The decrease in gold output of PT Freeport Indonesia (PTFI) had greatly contributed to the drop in world gold production in the first six months of 2002, Koran Tempo reported on Wednesday.
The fall in United States? gold production had also caused world gold output to drop by 5 percent to 1,216 tons, the newspaper quoted as saying Philip Klapwijk, managing director of London-based consulting agency Gold Fields Mineral Services.
Klapwijk said however the world?s gold mining investments would reach US$2 billion in 2002, twice last year?s investments.
PTFI, the Indonesian unit of New Orleans-based Freeport-McMoran Copper & Gold Inc, operates a huge copper and gold mine in Grasberg, Papua province. (*)