U.S. mining giants say nearing Indonesia deal on copper exports

Posted on July 24, 2014 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

JAKARTA, July 24 (Reuters) – Indonesia’s top two copper miners signalled they are nearing a breakthrough to allow a restart of concentrate exports, which have been halted for more than six months due to a dispute with the Southeast Asian country over new mining rules.

The comments come as Indonesian president-elect Joko Widodo prepares to assume power in October, and will take pressure off the new government to resolve the dispute, which has halted about $200 million a month in copper exports.