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View all search resultsThe government approved on Wednesday a one-month special mining permit (IUPK) for PT Freeport Indonesia (PTFI), the local affiliate of American mining giant Freeport-McMoran, that expires on July 31, as the government aimed to complete the divestment of 51 percent of PTFI shares in mid-July.
State-Owned Enterprises (SOEs) Minister Rini Soemarno hinted on Saturday that state mining holding company Inalum's purchase of shares in gold and copper miner PT Freeport Indonesia (PTFI) was expected to be completed by mid-July.
An official at the Energy and Mineral Resources Ministry has confirmed that the temporary special mining permit (IUPK), one of the required documents that allows gold and copper miner PT Freeport Indonesia (PTFI) to export coal concentrates, will expire on July 4.
Gold and copper miner PT Freeport Indonesia (PTFI) is still open to build a new smelter in Sumbawa, West Nusa Tenggara, even though the company has officially submitted a proposal to the government to develop such a facility in Gresik, East Java.
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