Press Releases

USW Asks Justice Department To Investigate Possible Violations Of Foreign Corrupt Practices Act By Freeport-McMoRan In Indonesia

Stock quotes in this article:FCX 

PITTSBURGH, Nov. 2, 2011 /PRNewswire-USNewswire/ -- The United Steelworkers (USW) requested yesterday that the U.S. Department of Justice immediately begin to investigate whether Freeport-McMoRan has been bribing security forces in Indonesia.

(Logo: http://photos.prnewswire.com/prnh/20080131/DC12982LOGO)

The Indonesian police have recently been quoted in the local media acknowledging that they accepted millions of dollars from Freeport-McMoRan's Indonesian subsidiary PT Freeport to provide security for the miner's operations in Papua, Indonesia. The Foreign Corrupt Practices Act bans companies from paying foreign officials to do or omit to do an act in violation of his or her lawful duty.

Police personnel providing security for Freeport-McMoRan operations in Papua have recently played a highly controversial role in a strike by some 10,000 miners. This includes firing on strikers during a demonstration on October 10, killing two and injuring eight others.

Freeport-McMoRan Copper & Gold, Inc. (FMCG, NYSE: FCX) is a mining company headquartered in Phoenix, Arizona that operates in a number of countries. USW represents some 260 workers at Freeport-McMoRan's Chino mine in New Mexico.

See entire letter: http://usw.org/our_union/international/page?type=international_news&id=0033

The USW is the largest industrial union in North America and has 850,000 members in the United States, Canada, and the Caribbean. It represents workers employed in metals, rubber, chemicals, paper, oil refining, airlines, atomic energy and the service sector.

CONTACT: Benjamin Davis (202) 550-3729

SOURCE United Steelworkers (USW)

>To order reprints of this article, click here: Reprints

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

TheStreet Premium Services

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,454.83 1,317.82 2,837.53 17.45
Oil *
107.26
DOWN
74.92
DOWN
2.86
DOWN
1.85
DOWN
0.14
10 Yr
1.74%
SPDR Gold
152.68
-0.60%
-0.22%
-0.07%
-0.80%
Data delayed 20 minutes

Top Stories and Tools

Articles From

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet