KONTAN.CO.ID - JAKARTA. Indonesia's energy minister said on Wednesday discussions are underway with copper miner Freeport Indonesia (PTFI), after media reported that Freeport-McMoRan will give 20% of its PTFI stake to the government in exchange for extending its permit. President Joko Widodo earlier said Freeport, which operates the Grasberg copper and gold mine in the country's eastern region of Papua, would get a 20-year extension on its mining permit in exchange for the shares, according to news website Kontan.co.id. A spokesperson for PTFI, Katri Krisnati, also said discussions on the permit extension were ongoing.
Negotiations Continue on Freeport Indonesia's Mining Permit Extension
KONTAN.CO.ID - JAKARTA. Indonesia's energy minister said on Wednesday discussions are underway with copper miner Freeport Indonesia (PTFI), after media reported that Freeport-McMoRan will give 20% of its PTFI stake to the government in exchange for extending its permit. President Joko Widodo earlier said Freeport, which operates the Grasberg copper and gold mine in the country's eastern region of Papua, would get a 20-year extension on its mining permit in exchange for the shares, according to news website Kontan.co.id. A spokesperson for PTFI, Katri Krisnati, also said discussions on the permit extension were ongoing.