Freeport Indonesia May Resume Exports Soon but Dispute Continues
Reportedly, the government of Indonesia will hand Freeport Indonesia a temporary export permit for copper concentrate shipments, hence being able to bypass (for the moment) Indonesia's controversial ban on mineral ore exports. Freeport Indonesia, the local unit of US mining giant Freeport McMoRan, has been unable to export copper concentrate for the past three months, thus missing out on about USD $1 billion in revenue. Due to the drop in exports, mining activities at the Grasberg mine in Papua fell drastically, giving rise to concern about layoffs.