The Phoenix, Arizona-based miner expects a portion of its second quarter gross sales to be shipped in future intervals.
Freeport’s Indonesian subsidiary’s final export allow was legitimate till Might 31, and its new targets should be authorised by the nation’s mining ministry.
Indonesia banned shipments of all uncooked minerals from June 2023 to spice up funding in its metals processing trade. Nevertheless, Freeport Indonesia and rival copper miner Amman Mineral Internasional got a year-long exemption to finish the development of their copper smelters.
Cargo delays are additionally anticipated to weigh on the unit internet money prices for the quarter, now forecast at $1.77 per pound of copper, up from the sooner estimate of $1.57.
(By Seher Dareen; Modifying by Tasim Zahid)