Freeport-McMoRan shares fell sharply on Bali impact

Shares of Papuan gold and copper miner Freeport-McMoRan Corp. fell 19 percent on Monday after fatal bomb blasts killed hundreds in Bali Saturday.

The company, which had almost US $2 billion in revenue last year, conducts copper and gold mining, primarily in Indonesia's Papua province, about 1,500 miles away from Bali.

William Collier, a company spokesman, said the attacks would have no affect on the company's operations.

Two Americans and an Indonesian contracted by the company to work in its international school died near the company's Grasberg mine in August, in a shooting that is still unresolved. While the military has blamed separatist rebels, human rights groups said the military has behind the killings.

Following the attack, Collier said, security was tightened by the Indonesian military and police, who are responsible for patrolling the area for the company.

The spokesman said the lion's share of the company's total revenue comes from its mining operation in Papua. (*)