Freeport McMoRan Inc on Friday lost its right to export copper concentrate, valued at more than $1-billion, from one of the world’s biggest mines, as talks with Indonesia’s government remained deadlocked over payment for a new metal smelter. Freeport’s six-month licence to export concentrate expired on Thursday and it was unclear how soon a new one would be issued as the two sides have yet to resolve a government demand that the US firm first pay a $530-million deposit.
