<Tr> <Th_colspan="2"> Owner </Th> </Tr> <Tr> <Th> Company </Th> <Td> Freeport - McMoRan </Td> </Tr> <P> The Grasberg Mine is the largest gold mine and the second largest copper mine in the world . It is located in the province of Papua in Indonesia near Puncak Jaya, the highest mountain in Papua . It has 19,500 employees . It is mostly owned by Freeport - McMoRan (FCX), which owns 90.64% of PT Freeport Indonesia (PT - FI), the principal operating subsidiary in Indonesia, including 9.36% owned through its wholly owned subsidiary, PT Indocopper Investama . The government of Indonesia owns the remaining 9.36% of PT Freeport Indonesia . </P> <P> FCX operates under a Contract of Work (CoW) agreement with the government of Indonesia, which allows Freeport to conduct exploration, mining and production activities in a 27,400 - acre area (Block A). It also conducts exploration activities in a 413,000 - acre area (Block B). All of Freeport's proven and probable mineral reserves and current mining operations are located in Block A . The mine has three mining operations: the open pit, the Deep Ore Zone underground mine, and the Big Gossan underground mine . A fourth, the Deep Mill Level Zone, is being developed . The 2016 production was 1,063,000,000 pounds (482,000,000 kg) of copper, 1,061,000 ounces (30,100,000 g) of gold; and in 2016 sales of 2,900,000 ounces (82,000,000 g) of silver . </P>

Where is world's largest gold mine situated