Freeport to resume Indonesia copper exports in "near future"-minister

JAKARTA Mon Feb 24, 2014 1:50am EST

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JAKARTA Feb 24 (Reuters) - U.S. miner Freeport-McMoRan Copper & Gold is expected to resume Indonesian copper concentrate exports in the "near future", the Southeast Asian nation's industry minister said, after halting shipments due to a dispute over new mining rules imposed last month.

"Freeport, in principle, understands the regulations and will obey it," M.S. Hidayat told reporters. "Freeport will also export concentrate in the near future. On the export tax relaxation, the finance minister will consider it after Freeport builds a smelter."

Freeport was not immediately reachable for comment.

Freeport and Newmont Mining Corp, which together produce virtually all of Indonesia's copper, have suspended exports due to a dispute over an export tax imposed by the government on Jan. 12.

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