The government of Indonesia will in coming days cut the export duty of copper and iron concentrates for Freeport Indonesia and Newmont Nusa Tenggara as 2 companies have committed to build smelters, Bisnis Indonesia reported this morning.
Freeport and Newmont will pay to the state security deposits of US$115 million and US$25 million respectively. The government expects to make a deal with Freeport and Newmont on the meeting scheduled for next week.
Other companies, PT Sebuku Iron Lateric Ores and PT Lumbung Mineral Sentosa will also pay security deposits of US$12.1 million and US$3244,785 each.