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Indonesian minister slams deal to extend Freeport's contract

He says US miner should assure it will pay more in royalties and improve its disposal of tailings before winning an extension

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Freeport is eager to secure ongoing rights to the Grasberg mine before committing some US$16 billion towards expanding underground mines and US$2.3 billion towards a copper ore smelter.

Jakarta

A SENIOR Indonesian minister has criticised an agreement to extend the operating contract of the local unit of US mining giant Freeport McMoRan, suggesting it failed to win sufficient backing of the Cabinet before it was announced.

President Joko Widodo's coordinating

sentifi.com

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