Core Viewpoint - Freeport-McMoRan Inc. (FCX) has entered into a Memorandum of Understanding (MOU) with the Indonesian government to extend the operating rights for PT Freeport Indonesia (PTFI) in the Grasberg minerals district for the life of the resource, ensuring continued governance and operational structures [1] Group 1: Agreement Details - The MOU stipulates that the existing governance and operating structure will remain in effect throughout the life of the resource [1] - FCX will transfer a 12% share interest in PTFI to the Indonesian government in 2041 at no cost, with reimbursement for pro-rata costs incurred [1] - FCX will maintain a 48.76% ownership interest in PTFI until 2041, reducing to approximately 37% starting in 2042 [1] Group 2: Operational and Community Commitments - PTFI will prioritize domestic downstreaming through local sales of refined copper, precious metals, and sulfuric acid, and will be positioned to market refined copper to the U.S. if needed [1] - PTFI plans to increase exploration spending and advance studies to identify long-term resources and expansion opportunities [1] - The company will enhance support for communities in Papua, including financial contributions for a new hospital and two medical educational facilities [1] Group 3: Future Outlook - The extension of operating rights and other terms are contingent upon the issuance of an amended special mining business license (IUPK) by the Indonesian government [1] - PTFI intends to expedite the extension application reflecting the agreed terms [1]

President Donald Trump imposed a 50% tariff on all semi-finished copper products coming into the US, but stopped short of applying the duty to imported refined copper, sparing much of the domestic industry from potential higher costs. https://t.co/JpbLOpY89K ...