| Freeport sees no quick fix to Indonesian copper export stoppage | |
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JAKARTA, Aug 14 (Reuters) - U.S. miner Freeport-McMoRan said on Friday it expected the resumption of copper concentrate exports from Indonesia to be delayed further while buyers adjusted to rules that stopped shipments from its Grasberg complex last month. Earlier this year Indonesia introduced rules making it compulsory for exporters of coal, palm oil, oil and gas and minerals to use letters of credit from domestic banks in an effort to improve transparency and increase export earnings. Freeport obtained an exemption from the rule that expired on July 25. "We are trying to accommodate what the government says. It's a matter of procedures we have to introduce to our buyers," Freeport Indonesia spokesman Riza Pratama told Reuters. (Reporting by Fergus Jensen; Editing by Alan Raybould)
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Freeport McMoRan Copper and Gold Inc.
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PRODUCER |
CODE : FCX |
ISIN : US35671D8570 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Freeport McMoran is a gold and copper producing company based in United states of america. Freeport McMoran produces gold, copper, cobalt, molybdenum and silver in Chile, in Congo Dem. Rep. of, in Indonesia and in Peru, develops copper in Peru, and holds various exploration projects in Chile. Its main assets in production are CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI and MORENCI - ROM LEACH in Chile, GRASBERG, SIERRITA and BAGDAD in Indonesia, TENKE FUNGURUME and TYRONE in Congo Dem. Rep. of and CERRO VERDE in Peru, its main asset in development is SAFFORD in Peru and its main exploration properties are BAGDAD - ROM LEACH and CHINO - ROM LEACH in Peru and CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH and CLIMAX in Chile. Freeport McMoran is listed in Germany and in United States of America. Its market capitalisation is US$ 68.1 billions as of today (€ 59.6 billions). Its stock quote reached its lowest recent point on March 06, 2020 at US$ 10.00, and its highest recent level on March 28, 2024 at US$ 47.02. Freeport McMoran has 1 448 000 000 shares outstanding. |