Freeport says not among 6 firms approved to export processed minerals

JAKARTA Thu Feb 20, 2014 3:49am EST

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JAKARTA Feb 20 (Reuters) - Freeport-McMoRan Copper & Gold Inc said it is not among six companies that gained approval to export processed minerals and refined metals out of Indonesia, after a more than one-month hiatus in shipments from the world's fifth-largest copper mine.

The Arizona-based firm which operates the giant Grasberg mine in Papua, Indonesia, has been in talks with the government of the Southeast Asian nation after a progressive export tax of up to 60 percent was introduced in early January. The firm says the tax is in breach of its contract.

Around $500 million worth of monthly metal ore and concentrate exports have ground to a halt in Indonesia due to confusion surrounding the implementation of the Jan. 12 mining law, which includes a mineral ore export ban and a progressive tax on concentrate shipments.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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