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Reviewing Potential Impacts of Indonesia Rules -- Market Talk

13 Jan 2017 5:50 am

00:49 ET - Freeport McMoRan (FCX) is reviewing how new mining regulations in Indonesia will apply to its massive Grasberg copper-and-gold mine in the country's far east. The rules, issued late Thursday, ease an export ban on nickel ore and bauxite and allow for exports of concentrates such as copper as long as miners commit to building smelters within 5 years and convert long-term work contracts into special mining-business licenses. They also require miners to agree to divest majority stakes in their operations. Whether exports will be prevented as miners work to achieve the standards remains unclear. FCX's ability to export copper concentrate expired Wednesday and it didn't respond to queries about whether shipments of the semi-processed mineral has stopped. (sara.schonhardt@wsj.com)

(END) Dow Jones Newswires

January 13, 2017 00:50 ET (05:50 GMT)

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