FREEPORT MCMORAN : ANNOUNCES FRAMEWORK FOR AGREEMENT WITH INDONESIAN GOVERNMENT REGARDING LONG TERM OPERATING RIGHTS FOR PT FREEPORT INDONESIA
Release date- 29082017 -
FCX and the Government of
PT-FI will convert its Contract of Work to a special license (IUPK) which will provide PT-FI with long-term operating rights through 2041.
The Government will provide certainty of fiscal and legal terms during the term of the IUPK.
PT-FI will commit to construct a new smelter in
FCX will agree to divest its ownership in PT-FI at fair market value so that
FCX is a leading international mining company with headquarters in
FCX's portfolio of assets includes the Grasberg minerals district in
Cautionary Statement Regarding Forward-Looking Statements: This press release contains forward-looking statements, which are all statements other than statements of historical facts. The words 'anticipates,' 'may,' 'can,' 'plans,' 'believes,' 'estimates,' 'expects,' 'projects,' 'targets,' 'intends,' 'likely,' 'will,' 'should,' 'to be,' 'potential' and any similar expressions are intended to identify those assertions as forward-looking statements. FCX cautions readers that forward-looking statements are not guarantees of future performance and actual results may differ materially from those anticipated, projected or assumed in the forward-looking statements. Important factors that can cause FCX's actual results to differ materially from those anticipated in the forward-looking statements include FCX's ability to secure regulatory approvals, the outcome of ongoing discussions with the Indonesian Government regarding PT-FI's long-term operating rights and other factors described in more detail under the heading 'Risk Factors' in FCX's Annual Report on Form 10-K for the year ended
Investors are cautioned that many of the assumptions upon which FCX's forward-looking statements are based are likely to change after the forward-looking statements are made, including for example commodity prices, which FCX cannot control, production volumes and costs, some aspects of which FCX may not be able to control. Further, FCX may make changes to its business plans that could affect its results. FCX cautions investors that it does not intend to update forward-looking statements more frequently than quarterly notwithstanding any changes in its assumptions, changes in business plans, actual experience or other changes, and FCX undertakes no obligation to update any forward-looking statements.
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