February 14, 2025 06:13 GMT
EM ASIA CREDIT: Freeport Indonesia (FRIDPT, Baa3/NR/BBB) waiting on permit
EM ASIA CREDIT
PT Freeport Indonesia (FRIDPT, Baa3/NR/BBB)
"*FREEPORT INDONESIA COPPER SMELTER SEEN REPAIRED IN JUNE-JULY" - BBG
"*INDONESIA SAYS NO DECISION MADE YET ON FREEPORT EXPORT PERMIT" - BBG
- The Grasberg copper mine, located in Indonesia, is running at 60% capacity according to the government. Repairs to the Manyar smelter are expected to be complete by July.
- The company continues to negotiate with the government to extend concentrate export licences, allowing international shipments. For now copper concentrate is building up.
- Neutral for spreads, with the timing of repairs in line with previous estimates.

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