Freeport McMoRan Copper & Gold Inc expects full operations at its Indonesia mine to resume by early 2012 after reaching a pay deal on Wednesday to end a three-month strike that paralysed output at the world's second-biggest copper deposit. The deal, which includes a pay rise of 37 percent over two years for workers, ends Indonesia's longest-running industrial dispute and was achieved as pressure grew to find an agreement before Christmas.
Freeport said it had begun ramping up milling operations at the remote Grasberg mine, which also holds the world's largest gold reserves and produces silver, although shipments would be limited this month.