Indonesia to extend temporary mining permit for Freeport

By Kitco News / July 30, 2018 / www.kitco.com / Article Link

JAKARTA, July 30 (Reuters) -


* Indonesian government will extend temporarily a specialminingpermit (IUPK) for Freeport McMoran's local unit that isdue to expire on July 31, Coal and Minerals Director GeneralBambang Gatot told reporters on Monday.
* The ministry has yet to decide on the length of the permitextension.
* Freeport is currently negotiating the sale of a majorityof itsstake in its local unit (PT-FI) to Indonesia's state-ownedmining company Inalum.
* Freeport operates the Grasberg copper mine in the easternprovince of Papua that is the world's second-largest. (Reporting by Bernadette Christina Munthe; Editing by ChristianSchmollinger)

Reuters Messaging:fransiska.nangoy.thomsonreuters.com@reuters.net)) Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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