Grasberg, in Papua on the island of New Guinea, is one of the world's largest copper and gold mines in terms of reserves and production. It is owned and operated by PT Freeport Indonesia (PTFI), the principal and 91 per cent owned subsidiary of US based Freeport-McMoRan Copper & Gold Inc. (FCX). A least one per cent of Grasberg's net sales revenues has been committed to support village based programmes. In addition, two new trust funds were established in 2001 in recognition of the traditional land rights of the local Amungme and Komoro tribes. In 2001, PTFI contributed US$19.9 million and Rio Tinto US$3.6 million in total to the funds. As a result of training and educational programmes, Papuans represented more than a quarter of PTFI's approximately 9,000 workforce by the end of 2003.