- Indonesia's mining ministry is recommending a sharp cut in the export tax imposed on Freeport McMoRan (FCX) and Newmont Mining (NEM), according to a senior government official, but the proposal still appears to fall short of the companies' request.
- Mining officials want the finance ministry to lower the export tax to no more than 10% for FCX and NEM from the surprise 25% imposed in January that has halted copper shipments, but the firms have agreed only to pay 5% to go toward building a smelter.
- Meanwhile, FCX has made unspecified cuts to its ~30K workforce at the Grasberg mine in Indonesia, as the tax dispute with the government drags on.
Indonesia mines ministry seeks cut in export tax for Freeport, Newmont
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