Freeport, Indonesia Agree on Framework for Contract Renegotiations

Base Metals Investing

Reuters reported today that Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) has made progress in talks with Indonesia that moved both parties closer to a resolution for the problems surrounding copper exports from the island nation.

Reuters reported today thatĀ Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) has made progress in talks with Indonesia that moved both parties closer to a resolution for the problems surrounding copper exports from the island nation. In an important step forward, Indonesia and Freeport have agreed on a basic framework for contract negotiations.Ā Newmont Mining Corp (NYSE:NEM) met with officials as well, according to Reuters.

As quoted in the publication:

The CEOs of both firms met with chief economic minister Chairul Tanjung in Jakarta last week in a bid to resolve the five-month-old dispute.ā€There was a lot of progress and we have moved forward in the renegotiation process, but there are still some processes left,ā€ Rozik Soetjipto, Freeport Indonesia CEO, told Reuters on Tuesday.

Click here to read the full Reuters article.

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