Indonesia wants more royalties from Freeport for longer contract

Freeport-McMoRan should significantly increase the amount it pays in royalty payments to the Indonesian government if it wants to extend a contract to operate one of the world's biggest copper mines, a cabinet minister said on Tuesday. The US firm last week said it received assurances from Indonesian mining minister Sudirman Said that Freeport's contract for its giant Grasberg copper and gold mine would be extended beyond 2021.