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Freeport Indonesia’s mining permit extended until June
Indonesia’s government has extended until June 30, 2018, the temporary special mining permit it issued to PT Freeport Indonesia, a subsidiary of US-based Freeport McMoRan (NYSE:FCX).
The permit was issued to allow the miner to continue exporting copper concentrate while company representatives and government officials go on with the discussions around Freeport’s future operations in the country, which they started in early 2017. A previous extension on the permit was to expire on January 10.
According to the Jakarta Post, Finance Minister Sri Mulyani Indrawati said on Tuesday that such negotiations, which are focused on contract extension, divestment, smelter construction and fiscal and legal obligations, are almost done. Thus, Freeport is expected to receive a permanent permit before the June deadline.
