Copper Rises as Freeport Halts Sales From Indonesia Mine
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Copper futures rose, snapping the longest slump in 15 weeks, after Freeport-McMoRan Copper & Gold Inc. canceled shipments from its Grasberg mine in Indonesia following a shutdown caused by a deadly accident.
Freeport said in a statement today that it declared force majeure on shipments of copper concentrate. Grasberg was closed after an accident killed 28 workers last month. Copper prices dropped in the previous four sessions.