#FreeportMcMoRanInc: Freeport still unable to export concentrates

Posted on August 23, 2015 by Nanthakumar Victor Emmanuel, P.Eng Leave a comment

Not ready: Copper and gold miner PT Freeport Indonesia, a subsidiary of US-based giant mining firm Freeport McMoRan Inc., says it’s concentrates are still in the production phase and it cannot yet export them. Freeport is one of the mining companies in Indonesia that are not prepared to abide by a Trade Ministry regulation on the mandatory use of letters of credit for mineral exports. (tempo.co.id)

Copper and gold miner PT Freeport Indonesia (PTFI), a subsidiary of US-based giant mining firm Freeport McMoRan Inc., still may not export concentrates as it is not ready to implement a Trade Ministry regulation on the mandatory use of letters of credits (L/C) for mineral exports, an energy and mineral resources official has said.

– See more at: http://www.thejakartapost.com/news/2015/08/22/freeport-still-unable-export-concentrates.html#sthash.fD6l08aW.dpuf