What effect do you think Indonesia's ban will have on Freeport Copper & Gold?
The article I posted yesterday suggested that Indonesian exports of concentrates and refined products will be excluded from the ban on ore exports and specifically mentioned Freeport¡¯s successful attempts to lobby against tougher rules.
Freeport McMoRan Copper & Gold derives 11% of revenues from its Indonesian operations so it is questionable whether Indonesia¡¯s regulatory change will have very much impact on the share which has been ranging above the 200-day MA since September. A sustained move below $33.75 would be required to question medium-term scope for some additional upside.
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