The Conversation (0)
Reuters reported that Richard Adkerson, President and CEO of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), is worried about violence at the company’s Grasberg mine in Indonesia, but is unconcerned about the government’s plan to renegotiate mining contracts.
Reuters reported that Richard Adkerson, President and CEO of Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), is worried about violence at the company’s Grasberg mine in Indonesia, but is unconcerned about the government’s plan to renegotiate mining contracts.
As quoted in the market news:
‘We are concerned about what is going on in Indonesia,’ Adkerson told analysts and investors at a Bank of America Merrill Lynch metals and mining conference in Miami on Tuesday.
The Jakarta government is also seeking to renegotiate foreign mining contracts, increase royalties, and give Indonesian interests a bigger stake in foreign miners’ operations.
Adkerson said Freeport, which has operated Grasberg since the 1970s, was confident about its contract. It has the right to work there until 2021, with the option for two 10-year extensions, he said.
