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Freeport says new Indonesia mining rules have 'many impacts'
January 13, 2017 / 9:16 AM / 10 months ago

Freeport says new Indonesia mining rules have 'many impacts'

JAKARTA, Jan 13 (Reuters) - Broad changes to mining rules issued by Indonesia on Thursday will have many impacts, a spokesman for the Indonesian unit of Freeport-McMoRan Inc said on Friday, noting that the company was still studying the new rules.

“We don’t know now if this will disrupt (operations) or not yet, but we are studying this based on our contract of work,” Freeport Indonesia spokesman Riza Pratama told reporters.

Pratama acknowledged exports had stopped, and added that a prolonged export stoppage could affect contracts with buyers.

“Based on regulations, we can’t export. But we are still in discussions. Of course we want operations to continue with these changes, but there are many issues we are still studying,” Pratama said.

Freeport is now focusing on how to convert from its contract of work to a special mining license (IUPK), he said, noting that it must first study its financial position and legal issues before applying for an extension of its operating permit. (Reporting by Wilda Asmarini; Writing by Fergus Jensen; Editing by Tom Hogue)

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