Freeport, Newmont CEOs in Indonesia in bid to break export tax deadlock

|By:, SA News Editor

The CEOs of Freeport McMoRan (FCX -1.2%) and Newmont Mining (NEM +1.2%) are both in Indonesia's capital, marking what might be a last-ditch effort to resolve the dispute over a mineral export tax before a new administration takes over in October.

FCX CEO Richard Adkerson is in Jakarta again less than a week after talks with Indonesia's new chief economics minister failed to make a breakthrough on the escalating export tax that has halted copper concentrate shipments since January.

NEM CEO Gary Goldberg, who was not involved in last week's talks, is in the capital to "demonstrate the company's seriousness in supporting the government's policy to increase domestic smelting."