Freeport Indonesia union says layoffs “inevitable” due to export tax
JAKARTA, Jan 14 (Reuters) – U.S. miner Freeport-McMoRan Copper & Gold will be forced to lay off workers from the world’s fifth-biggest copper mine in Indonesia to offset an unexpected increase in export taxes, a union official said on Tuesday.
President Susilo Bambang Yudhoyono rushed through a last-minute regulation on Saturday giving copper miners Freeport and Newmont Mining Corp a reprieve from a controversial mineral export ban, but imposed an escalating tax to limit the amount of mineral concentrate exports over the next few years.
Read more at: http://www.reuters.com/article/2014/01/14/indonesia-minerals-freeport-idUSL3N0KO2H820140114
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