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Copper prices spiked sharply in the past day after the world’s biggest copper miner American Freeport McMoran suspended operations at a West Papuan mine following a lethal accident.
The Grasberg Copper mine is in central West Papua, an area controlled by Indonesia. It’s an open-cut mine and is the second largest in the world.
The accident happened on September 8 when 800,000 metric tonnes of wet material entered the mine, travelling across multiple areas and killing two people on the service level, whilst five other miners remain missing.
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