PT Equityworld, Jakarta – Shares of the parent company of PT Freeport Indonesia, Freeport McMoran Inc. continues to fall. After the holidays the stock market the United States (US), Freeport McMoRan shares fell 5.23 percent.

Citing data compiled by Bloomberg, on Wednesday (02/22/2017), Freeport McMoRan shares fell to US $ 14.13 per share in trading Tuesday New York time, Tuesday, February 21, 2017. Shares of Freeport McMoran is in the range of US $ US $ 13.92 -US $ 14.64 in trading on Tuesday this week.

Throughout 2017, Freeport McMoran stock has fallen 7.13 percent. Any stock market capitalization to US $ 19.24 billion.

 

PT Equityworld | Shares of PT Freeport Indonesia Fall

Previous Minister of Finance (Finance) Sri Mulyani Indrawati said the change in status of Special Mining Business License (IUPK) of the work contract will save the business operations of PT Freeport Indonesia.

By converting the status of the mining company from the United States (US), it can still be export activities concentrate.

“We will try to continue to deliver to Freeport an arrangement, an arrangement that can maintain its own economic sustainability.

But we remain consistent with the rule of law (Mining),”

said Sri Mulyani at the office for Economic Affairs, Jakarta, Wednesday, February 22, 2017.

The government gave rights to Freeport Indonesia transition negotiations

and taxation of investment stability for 6 months from IUPK rises.

This is regarded as a process of negotiation open transition in the national interest,

for Indonesia, the people of Papua and Freeport.

“Freeport was a public company. If he stops (surgery), he will fall of its shares. In this case, there is no so-called win or lose.

If we want to continuously toward the negative, certainly not only bad for us, but also Freeport , “said Sri Mulyani.

 

PT Equityworld | Shares of PT Freeport Indonesia Fall

At the end of last week, shares of Freeport McMoran Inc. was down 1 percent impact statement of the company occurred force majeure or events can not be avoided so that the activities can not be carried out properly on Friday, February 17, 2017.

It makes Freeport McMoran has not been able to meet its contractual obligations or send copper concentrate from its Grasberg mine in Indonesia to.

Because the giant Freeport Indonesia mine production stalled after the government banned the export of copper concentrate on 12 January.

This part of the efforts to increase the smelter development in Indonesia.

Besides Freeport, BHP Billiton’s Escondia in Chile, the largest copper mine in the world also declared force majeure on 10 February.

This is because the strike for two days menghentiken production.

“Both mines it off. That means about 2 million tons, or nearly 10 percent of the world’s copper supply. This is a big problem,” said Jefferies analyst, Chris LaFemina as quoted from Reuters, Monday, February 20, 2017.

He said, the Grasberg mine is expected to produce 800 thousand tons of copper in 2017, or around 3.5 percent of global supply.

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