Freeport McMoRan : Indonesia extends permit for giant Freeport copper mine as talks continue

04 July 2018

Freeport operating permit for Grasberg extended until end of July

JAKARTA (Reuters) - Indonesia has extended its temporary operating license for the Grasberg Freeport McMoRan Inc. project, the world's largest copper mine, by the end of the temporary month. Freeport, headquartered in Phoenix, Arizona, has negotiated with Indonesia to secure long-term operating rights at Grasberg after the government introduced a new rule of the year that contributes more to resources. Prior Freeport's temporary operating license for Grasberg expires on June 30 after being granted in January. According to Ariyono, the main problem to be addressed is environmental issues, and discussions are underway "between the Ministry of Environment and Forestry, Freeport and Inalum teams, who has asked for an oppourtunity for solve the problem.”. In 2017 in Grasberg that outlines the massive destruction of Freeport mining waste and reduces the right environment to make it difficult to complate the deal. In April, following the audit, Indonesia's environment minister issued two decisions that gave Freeport six months to reorganize waste management.

Source : nasdaq.com

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