The Government of Indonesia has received a Rp1.4 trillion dividend payment from PT Freeport Indonesia, the first payment disbursed since the company suffered three years of losses in a row. Indonesian regional and central government officials on Friday signed an agreement with state holding company PT Inalum that lays the foundation for the transfer of Freeport McMoRan Inc’s giant Grasberg copper mine to local control.
Currently, the government has extended Freeport’s permit until June 30, to allow the miner to continue exporting copper concentrate while company representatives and government officials pursue intensive discussions around Freeport’s future operations in the country (started in early 2017). A previous extension on the permit was to expire on January 10.
