Indonesia Freeport majority share fall to national company Inalum, which will give control over operational this mining company. Negative issue arise when some company machinery send back overseas. Some say Freeport is over and will be less productive.
Perhaps we should look back at the time Freeport start mining in Papua. An open pit called the grasberg is the main source of the mining operational in Papua. After several year the grasberg mountain seem less productive and turn to closed mining underground.
Grasberg was the best mining result which contain copper and gold, the reserve was so huge will not finish for several years. But the position now seem far from what the start of the exploration. In recent year production start to fall almost nearly 60 percent and would be less profit.
Even they start to explore underground pit, still will need time to reach full capacity or at least return from what available now. As the cost of underground mining also more costly and high risk. This is the problem for the new company holder, Inalum as the majority holder of the Freeport Indonesia.
Perhaps hard life for the Freeport Indonesia for two or three years ahead, before the new administration can enjoy the result. The problem would be the financial, worker, as operational change significantly. Some say when white people left company everything would be over.
The fact and the myth perhaps have similar line, but in business the fact is important to make a decision than politic pressure. Now whatever left is belong to the national company, and Inalum have the best record in transferring administration from foreign company to national company. Hope Indonesia Freeport will survive and give full result for the benefit to Indonesia people.
