Freeport seeks extension of Grasberg license while negotiating final agreements

Freeport-McMoRan is seeking an extension of its Indonesian subsidiary’s temporary special license (IUPK) that would allow it remain in effect until all definitive agreements on its mining rights in the country are complete.

The current IUPK, which covers the giant Grasberg copper and gold mine in Papua, Indonesia, expires on July 31.
Freeport is engaged in negotiation and documentation of the license as well as the accompanying documentation to give assurances about the legal and fiscal terms required to provide Indonesian unit PT-Freeport Indonesia (PT-FI) with long-term mining rights until 2041.

The IUPK would also set out that PT-FI will construct...

Published

Andrea Hotter

July 25, 2018

14:20 GMT

New York