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Indonesia Weighs Freeport Copper Extension as Deadline Looms

Citation:世紀矿业信息网 Date:2016-8-12 15:53:22

Freeport-McMoRan has not yet been told whether its permit to export copper from its giant Grasberg copper mine in Indonesia will be renewed on Monday, when it is set to expire.

The company would be forced to halt shipments if the government does not approve an extension by the end of the day.

Asked if an extension has been approved yet, Bambang  Gatot  Ariyono, director general of coal and minerals at Indonesias Mining Ministry, said "So far, not yet. There are things to be evaluated and considered."

Freeport currently produces about 220,000 t of copper ore a day. A prolonged stoppage in shipments would hit the company's profits, but would also deny the Indonesian government badly needed revenue.