Freeport awaits permit to end costly Indonesia export ban – execs

April 5, 2017

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Freeport McMoRan is awaiting final details on a temporary export permit in Indonesia, which would end a 12-week ban that has cost the world’s biggest publicly traded copper company nearly $1-billion in lost revenues, its top executives told Reuters in an interview on Wednesday.

“With the short-term arrangement, we’ll start ramping production back up to feed our mill 100%,” said CFO Kathleen Quirk referring to Freeport’s Grasberg mine.

Category: General