Freeport McMoRan's Board of Directors says this week they are "encouraged by [their] discussions with the Indonesian government" regarding a near-term agreement to enable the resumption of PT Freeport Indonesia's (PT-FI) copper ore exports. PT-FI owns at 90 percents stake in Grasberg, the world's largest gold mine and third largest copper mine and it's located in Indonesia … [Read more...]
Freeport to Defer Indonesian Copper Exports Amid Permit Delay
Jan. 22 (Bloomberg) -- Freeport-McMoRan Copper & Gold Inc., the largest publicly traded copper producer, will defer the equivalent of about a 10th of monthly sales of the metal until delays related to new Indonesian export regulations are resolved. Freeport hasn’t received administrative approvals for 2014 exports from its Grasberg copper and gold mine in the Southeast … [Read more...]