Post by Logan on Jan 27, 2017 5:19:23 GMT -6
JAKARTA, Indonesia (AP) — The governor of Indonesia's easternmost province of Papua is urging Freeport to immediately pay $376 million in taxes and penalties after a court ruled against the U.S. mining giant in a water use case.
Lukas Enembe said Friday that the Tax Court ruled Jan. 17 that Freeport should pay much higher taxes on water the company drew from two Papua rivers between January 2011 and July 2015 to suspend tailings from its mining operations.
The Grasberg mine operated by Freeport is the world's largest gold mine by reserves and one of the biggest copper mines.
Under Indonesian law, payment is required about 30 days after receipt of the ruling. Freeport Indonesia, a unit of Phoenix, Arizona-based Freeport-McMoRan Copper & Gold Inc., is expected to appeal to the Supreme Court.
Read more: www.newspressnow.com/news/business/ap/papua-urges-us-miner-to-pay-m-in-taxes-penalties/article_0a3ee156-1cbd-537d-8f0c-7b885e35ca87.html
Lukas Enembe said Friday that the Tax Court ruled Jan. 17 that Freeport should pay much higher taxes on water the company drew from two Papua rivers between January 2011 and July 2015 to suspend tailings from its mining operations.
The Grasberg mine operated by Freeport is the world's largest gold mine by reserves and one of the biggest copper mines.
Under Indonesian law, payment is required about 30 days after receipt of the ruling. Freeport Indonesia, a unit of Phoenix, Arizona-based Freeport-McMoRan Copper & Gold Inc., is expected to appeal to the Supreme Court.
Read more: www.newspressnow.com/news/business/ap/papua-urges-us-miner-to-pay-m-in-taxes-penalties/article_0a3ee156-1cbd-537d-8f0c-7b885e35ca87.html