Freeport-McMoRan's Indonesian unit is in financing discussions with a syndicate of banks for its new $3 billion copper smelter and expects the project will be funded by a bank loan.
The United States producer, one of the project's joint venture partners, said that the economics of PT-FI's share of the new smelter will be shared by its shareholders according to their respective share ownership percentages.This annual debt service cost of around $88 million to Freeport will essentially be offset by the phasing out of the...