Indonesia’s government and Freeport McMoRan are meeting on Thursday in last-ditch talks to prevent a halt in exports of copper concentrate from the US mining giant’s massive Grasberg mine in the province of Papua.
A halt in exports would deal a blow to Freeport’s profits and deny the Indonesian government desperately needed revenue from one of its biggest taxpayers. A stoppage would also buoy global copper prices that have slipped 3% so far this year on worries about oversupply.
