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Freeport Indonesia has initial approval to resume copper exports -spokesman
April 18, 2017 / 11:32 AM / 5 months ago

Freeport Indonesia has initial approval to resume copper exports -spokesman

JAKARTA, April 18 (Reuters) - Freeport McMoRan Inc has received a preliminary approval to resume copper concentrate exports from its Indonesian unit and is now in the process of obtaining an export permit, a company spokesman said.

“We have got approval for exports and are working on finalising an export permit,” Freeport Indonesia spokesman Riza Pratama told Reuters, but did not provide further details.

Indonesia halted Freeport’s copper concentrate exports in January under new rules that require the Phoenix, Arizona-based company to adopt a special licence, pay new taxes and royalties, divest a 51 percent stake in its operations and relinquish arbitration rights. (Reporting by Fergus Jensen, editing by David Evans)

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