A government-led investigation, Freeport-McMoRan Copper & Gold's (FCX.N), Indonesia copper mine tunnel collapse, resulting in 28 deaths should not take three months to complete, the head of the probe on Friday representation.
This signal can resume production sooner than expected at the Grasberg complex, the world's second largest copper business was closed on May 15, in West Papua training day, the tunnel away from the mining operation, 38 workers collapse .
"Three months time by the Energy and Mineral Resources Minister JERO Wacik not just an accident investigation, but, all underground mining in Indonesia throughout the investigation and inspection," Wattimena Mr. Ridho said.
"I think (the accident) the survey will not be too long," Wattimena President, who is head of the Bandung Institute of Technology graduate course in mining engineering, told Reuters reporters. "We do not need several months to investigate."
Wattimena President added that the government's investigation will focus on the reasons for the collapse of the tunnel, to prevent similar incidents in the future, once completed, the report and recommendations will be sent to Wacik.
May 28, headquartered in Freeport, Arizona brief resume surface mining production, but a worker was killed in a separate incident, the government requires the company to suspend operations until the completion of the government investigation. The probe is expected to take up to three months.
The three-month loss of production may be cut from 24% in 2013 earnings per share of Freeport, if costs and expenses, of $ 2.54 per share expected BMO Capital Markets research, according to this week attention.
BMO estimates Grasberg Freeport this year will contribute to earnings before interest and tax of 32%.
, PT Freeport Indonesia can not be contacted last Friday, but said earlier this week, an internal examination results confirmed the overall safety of coal mine facilities.
Indonesia's chief economics minister called on the government to complete the probe into the incident quickly, so you can quickly return to open-pit mining.
PT Freeport Indonesia is estimated to bring about $ 100 million in U.S. dollars last year, Indonesia's economy in taxes, royalties and dividends to the government.
Mine workers, union representatives, government and corporate leaders hope the accident investigation completed before the resumption of production.
Grasberg complex, which also owns the world's largest gold reserves, usually produces about 220,000 tonnes of concentrate one day (242,508 tons), from about 14 million tonnes from underground operations, open pit mining and 80,000 tonnes respectively.
Suspension of three months will be reduced by approximately 125,000 tons of copper, or about half a percentage point from global suppliers, according to Reuters estimates, combined with other interference can destroy surplus small market expectations, and promote global prices.
Although Freeport did not say what level of stocks has left big miners usually have three to four weeks, piling up at the port of ore, and on-site three days or so.
On Friday, the benchmark three-month copper in London Metal Exchange traded at $ 7,365 per ton, slightly lower than the day before the accident.
 



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