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BRIEF-Freeport-McMoran updates status of PT Freeport Indonesia operations
February 20, 2017 / 2:57 PM / 9 months ago

BRIEF-Freeport-McMoran updates status of PT Freeport Indonesia operations

Feb 20 (Reuters) - Freeport-McMoran Inc :

* Freeport-McMoran updates status of PT Freeport Indonesia operations

* Following more than five years of discussions of PT-FI with Indonesian government, parties have failed to reach agreement

* Says PT smelting has advised PT-FI that it expects to resume operations in March 2017

* PT-FI has advised government that attempts to enforce regulations on PT-FI, which were passed in Jan and Feb, violates PT-FI’s COW

* Assuming resumption of PT Smelting’s operations in March, continuation of ban on exports, estimates Q1 sales to be reduced

* For each month of delay in obtaining approval to export, PT-FI’s share of production is projected to be reduced by about 70 million pounds of copper

* For each month of delay in obtaining approval to export, PT-FI’s share of production is projected to be reduced by about 70 thousand ounces of gold Source text for Eikon: Further company coverage:

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