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The Indonesian government asks Freeport McMoRan (FCX -4.4%) to reduce its stake in its...

The Indonesian government asks Freeport McMoRan (FCX -4.4%) to reduce its stake in its Indonesian unit through an IPO on the local stock market to less than 50%, and to pay higher royalties on its big Grasberg mine. The government seeks to renegotiate "unfair" mining contracts signed prior to passage of a 2009 mining law.
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Comments (4)
  • alf2011
    , contributor
    Comments (519) | Send Message
     
    'Fair' means different things to different people, but when it comes to tax collectors, 'fair' means a 'fair' chunk as in 'sizable.'
    23 Jul 2012, 12:36 PM Reply Like
  • dick roberson
    , contributor
    Comments (61) | Send Message
     
    Old news Are you short FCX? Indonesia needs FCX big time!
    They are smart to leave the Golden Goose alone. For many years
    Indonesia has had a win/win relationship with FCX. Consider how they treat JBM and RCA on all their visits when they show their concerns. Trust and respect rule the day, not the Unions demands.
    23 Jul 2012, 01:40 PM Reply Like
  • peter doyle
    , contributor
    Comments (21) | Send Message
     
    Between the market and the unknowns on FCX I am going to sell. It may be time to sell everything and put your money under the mattress. Cash is an investment.
    23 Jul 2012, 06:51 PM Reply Like
  • InvestorDMA
    , contributor
    Comments (4) | Send Message
     
    I'm interested in buying FCX.
    About those claims I don't care. Sooner or later things work out.
    A lot of country's are not satisfied by the amount of money that receive. If things were that easy they would extract the resources on their own. A lot of governments just want those taxes higher without doing anything. without taking the risk just because FCX can.

     

    Hope I see some pressure on the stock to get in on this stupid claims :)
    24 Jul 2012, 08:54 AM Reply Like
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