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Freeport Operating Permit For Grasberg Extended Until End Of July

by juniorminingnews.com posted 3months ago 37 views
By Cecilia Jamasmie Indonesia has extended a short-term operating permit for Freeport McMoRan’s (NYSE:FCX) vast Grasberg copper-gold mine until the end of July, while discussions over granting the government a majority ownership in the operation are finalized. Coal and Minerals Director General Bambang Gatot Ariyono told The Jakarta Post that the extension had been given based on four key issues that still needed fine tuning: contract extension, divestment, smelter construction and fiscal and legal certainty for Freeport’s planned long-term investment.

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