Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Freeport can request extension to Grasberg permit talks, minister says

Published 09/28/2017, 10:50 AM
© Reuters.  Freeport can request extension to Grasberg permit talks, minister says
FCX
-
HG
-
  • Indonesia’s mining minister says Freeport McMoRan (FCX -0.4%) can request an extension of a six-month negotiating period over rights to the Grasberg copper mine, which are due to end next month.
  • FCX and the government announced a framework agreement for a new permit last month, under which the miner agreed to divest a 51% stake in Grasberg, among other terms, but the new tax regime for the company is still being finalized by the finance ministry while terms of the divestment are now being handled by the State-Owned Enterprise Ministry.
  • Negotiations over contentious issues including the divestment, economic and legal protection and domestic smelting investment, have prevented a longer-term agreement from being finalized.
  • Now read: Freeport-McMoRan Cash Flow Is Rising With The Copper Price, Is The Company A Buy?

Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.