Environmental
reasons have weighed heavily
in the decision of the usbased Overseas Private
Investment Corporation
(opic) to terminate us $100
million worth of political
risk insurance on one of
world's biggest copper-gold
mining projects on the
Indonesian island of Irian
Jaya.
Freeport is the company
which faces the threat of a
withdrawal of insurance
cover. They have been
informed by opic that this
drastic step has been taken
because production at the
mine had doubled from the
agreed level. This change had
resulted "in the massive
deposition of tailings (waste)
in the Ajkwa river and the
sheet flow of tailings that has
degraded a large area of Iowland rainforest between the
Ajkwa and Mmajeri rivers.
These and other effects of the
project have posed an unreasonable or major environmental health and safety hazard in Irian Jaya." Freeport
has - predictably - denied
all charges.
We are a voice to you; you have been a support to us. Together we build journalism that is independent, credible and fearless. You can further help us by making a donation. This will mean a lot for our ability to bring you news, perspectives and analysis from the ground so that we can make change together.
.png)
Comments are moderated and will be published only after the site moderator’s approval. Please use a genuine email ID and provide your name. Selected comments may also be used in the ‘Letters’ section of the Down To Earth print edition.