August 12, 2015 / 3:00 AM / 2 years ago

Freeport indonesia halts copper exports after permit expires

JAKARTA, Aug 12 (Reuters) - Freeport-McMoRan has stopped exporting since last month from one of the world’s largest copper mines that it runs in Indonesia, a spokesman said on Wednesday, as the U.S. miner awaits approval from the trade ministry.

Riza Pratama, a spokesman for the company’s Indonesia unit, confirmed in a text message to Reuters that exports had stopped since “the last permit expired July 25”.

Freeport, which runs the Grasberg mine in Papua, halted shipments after failing to obtain an exemption from a new rule requiring mining exports to use letters of credit, the Jakarta Globe newspaper reported on Wednesday. (Reporting by Michael Taylor; Editing by Ed Davies)

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