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WorldPosted at: Feb 18 2017 3:14PM


Freeport Indonesia CEO resigns after force majeure on copper exports

JAKARTA, Feb 18 (Reuters) Chappy Hakim, the chief executive of Freeport-McMoran Inc's Indonesian unit, has resigned, the firm said in a statement today, after its parent company declared force majeure on copper concentrate shipments from its giant Grasberg mine in Papua.
Hakim, a former air force chief, had only been in the job for a few months. He was appointed to use his connections to guide Freeport Indonesia through regulatory uncertainty.
"I have decided it is in the best interests of PTFI (Freeport Indonesia) and my family to step down from my duties as president director while continuing to support the company in an advisory role," Hakim was cited as saying in the statement.
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