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Freeport rift is emblematic of Indonesian mining woes
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Subject
The dispute between PT Freeport Indonesia and the government.
Significance
Freeport-McMoRan, a US mining company which owns 91% of PT Freeport Indonesia (PTFI), has informed the government that it may seek international arbitration over its Contract of Work (CoW) for Grasberg, the world’s largest gold and second-largest copper mine located in Papua province.
Impacts
US-Indonesia ties could suffer since Carl Icahn, an advisor to US President Donald Trump, holds a 7% stake in Freeport.
The Freeport dispute’s outcome will affect global gold and copper prices.
Resource nationalism will continue to push policy towards protectionism.
Title: Freeport rift is emblematic of Indonesian mining woes
Description:
Subject
The dispute between PT Freeport Indonesia and the government.
Significance
Freeport-McMoRan, a US mining company which owns 91% of PT Freeport Indonesia (PTFI), has informed the government that it may seek international arbitration over its Contract of Work (CoW) for Grasberg, the world’s largest gold and second-largest copper mine located in Papua province.
Impacts
US-Indonesia ties could suffer since Carl Icahn, an advisor to US President Donald Trump, holds a 7% stake in Freeport.
The Freeport dispute’s outcome will affect global gold and copper prices.
Resource nationalism will continue to push policy towards protectionism.
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