Indonesia Wants Freeport to Build a Second Smelter by 2020

Following the signing of a memorandum of understanding with Freeport McMoRan (NYSE:FCX) earlier this year, Indonesia has asked Freeport to build a second smelter in the country by 2020, according to Reuters. Freeport has already agreed to build one $2.3 billion smelter by 2017.

As quoted in the publication:

The proposal comes five months after Freeport signed a memorandum of understanding (MOU) with the Indonesian government that ended a six-month tax dispute and paved the way for the company to resume copper concentrate exports.

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