Source: Reuters
JAKARTA Feb 16 (Reuters) – Freeport McMoRan Copper & Gold Inc will renegotiate their contract with the Indonesian government that allows it to run Grasberg, the second largest copper mine in the world, the energy ministry said on Thursday.
Indonesian politicians have regularly voiced their desire to get a greater share of profits from foreign mining companies and Energy Minister Jero Wacik has said this as a top policy priority.
“The renegotiation will be done for fairer contracts and agreements for the Indonesian national interest,” said an energy ministry statement.
The Grasberg mine in the central highlands of Papua, eastern Indonesia, is slowly getting back to normal after a three-month strike that shook labor relations in Southeast Asia’s largest economy.
