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Freeport Seeks to Extend Permit for Exporting Indonesian Copper
Freeport McMoRan Inc. will seek Indonesia’s approval to keep exporting mined copper beyond a May deadline to avoid building up stockpiles of concentrates as it ramps up output at a smelter it’s building at Jakarta’s request. The US miner aims to finish building the new plant in East Java in the second quarter, in what will be a milestone in the Indonesian government’s long-running campaign to build downstream processing capacity in its metals and mining industry. Freeport has secured a temporary exemption from a nationwide ban on exports of mined copper while it finishes the smelter. However, it faces a ... (full story)