Indonesia Allows Exports From Freeport Mine in Stop-Gap Deal
- Government, miner to continue talks on investment guarantees
- Freeport expects to resume shipments soon, spokesman says
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Indonesia has issued a temporary mining license to Freeport-McMoRan Inc.’s local unit that will allow the company to resume concentrate exports from the world’s second-largest copper mine after a gap of about 12 weeks.
The permit for Grasberg is valid for eight months from the time that the producer was first offered a special mining license or IUPK in February, Teguh Pamudji, secretary-general at Indonesia’s Energy and Mineral Resources Ministry, told reporters in Jakarta on Tuesday. The government will continue talks with Freeport on a long-term financial stability pact, he said.