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BRIEF-Freeport to reduce Grasberg inventory, deal with labor issues
April 25, 2017 / 3:06 PM / 8 months ago

BRIEF-Freeport to reduce Grasberg inventory, deal with labor issues

April 25 (Reuters) - Freeport-McMoRan

* CEO Richard Adkerson says close to 100,000 tons copper concentrate stored at Grasberg portside and storage facilities, will use series of ships with 25,000 ton capacity to reduce inventory

* Freeport in talks with union representing 12,000 of 32,000 Grasberg workforce to end absenteeism, getting support from police, gov’t -CEO

* Freeport worker absenteeism affected by recent demonstration, in which some injured by police use of rubber bullets, union also concerned by Freeport plans to reduce employment -CEO

* Freeport’s Adkerson says recent Indonesia visit by U.S. VP Mike Pence was positive, company getting support from others in U.S. gov‘t: state department, Congress and business groups for Indonesia-U.S. bilateral relationships

* Freeport does not underestimate challenges in long-term permit talks with gov‘t, arbitration remains option, in mid-June either Freeport or gov’t can pursue, Freeport hopes to avoid-CEO Source text for Eikon: Further company coverage: (Reporting by Susan Taylor)

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