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Jakarta Post

Freeport workers finally end turbulent 3-month strike

  • The Jakarta Post

Jakarta   /   Thu, December 15 2011   /  08:52 am

PT Freeport Indonesia workers have finally agreed to end their strike after the copper and gold mining giant decided to increase their wages by up to 40 percent.

According to Freeport spokesman Ramdani Sirait, the company has agreed to increase workers’ base wages by 24 percent in the first year and 13 percent in the second year of their employment contracts. This would be equal to a 40 percent increase over two years on a compounded basis.

“In addition, Freeport has agreed to provide improved benefits including enhancements to shift and work location incentives, housing allowances, educational assistance and retirement savings plans,” Ramdani said in a written statement

“For humanitarian purposes, Freeport has also agreed to pay a one-time signing bonus equivalent to three months of base wages.”

Freeport and its workers union have also agreed that...