Government targets the negotiation with U.S’ miner Freeport-Mcmoran Copper & Gold Inc. including 51% divestment, smelter development, investment assurance, taxation and extension of operations wrap up end of July, said government official on Wednesday (July 4).
The deadline in line with Indonesian government’s decision to extend the temporary special mining business license to July 31, 2018. The renewal of a temporary special business license has been signed on June 29 through a minister decree No. 1872/K30MEM/2018.
The U.S-based company previously held a current temporary special mining business license that will expire on July 4. This license is the second after the former license expired in December 2017.
The Energy and Mineral Resources Ministry’s (MEMR) mineral and coal Director General Bambang Gatot Ariyono said an extension was given as the government sees Freeport and PT Indonesia Asahan Aluminium (Inalum) are still negotiating related to the environmental aspect. The extension was granted to give more time to accomplish this environmental and other negotiation, he added.