FCX Aug 2024 29.000 put

Exclusive-Freeport may export up to 900,000 metric tons of Grasberg copper concentrate in second half

Freeport-McMoRan is preparing to ship as much as 900,000 metric tons of copper concentrate starting in June from its Grasberg mine after positive talks with Indonesia to extend its export licence, two sources with knowledge of the situation said. An Indonesian minister urged the government last week to allow the U.S. copper giant to keep shipping copper concentrate from the mine it operates at Grasberg in Indonesia after its current licence expires at the end of May. Exports of copper concentrate, produced from crushing mined ore, in the second half would help smelters facing shortages.