Indonesia's government has extended Freeport-McMoRan's special mining license (IUPK) for the Grasberg copper mine to June 30, sources told Metal Bulletin on Wednesday January 3.
"The agreement to extend the export permit in Indonesia is done. The official permit will take some days," a source said. The IUPK issued to PT Freeport Indonesia, a subsidiary of US-based Freeport-McMoRan, is valid between January 1 and June 30, 2018, and automatically extends the company's export permit for copper concentrates until February. Freeport must now apply for a new export permit to cover the period between February and August. "They have to apply for a new export permit with new tonnage and period, but having the...