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BRIEF-Freeport to cut Indonesia operations if export approval delayed
February 3, 2017 / 2:51 PM / 10 months ago

BRIEF-Freeport to cut Indonesia operations if export approval delayed

Feb 3 (Reuters) - Freeport-mcmoran Inc

* Freeport-McMoran updates status of pt freeport indonesia operations

* Freeport-Mcmoran inc says pt freeport indonesia continues to seek approval from indonesian authorities for export of its copper concentrates

* Freeport-Mcmoran - have been actively engaged with indonesian governmental authorities to enable full operations at pt-fi to continue without disruption

* Freeport-Mcmoran -continuing delay in obtaining rights to export copper concentrates will require pt-fi to undertake near-term actions to reduce production

* Freeport-Mcmoran -under reduced operating plans, pt-fi will be required to significantly adjust its cost structure, reduce its work force and spending

* Freeport-Mcmoran - for each month of delay in obtaining approval, pt-fi sees share of production reduced by about 70 million pounds copper, 70 thousand ounces gold Source text for Eikon: Further company coverage:

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