July 25, 2017 / 12:15 PM / a year ago

Miner Freeport posts profit, "encouraged" by Indonesia talks

TORONTO, July 25 (Reuters) - Freeport-McMoRan Inc reported a second-quarter adjusted profit on Tuesday and said it was encouraged by recent progress in talks with Indonesia to resolve a lengthy permit dispute for its massive Grasberg mine.

Arizona-based Freeport, the world’s biggest publicly listed copper miner, resumed copper concentrate exports from Grasberg in April after a 15-week outage related to the licensing row, but a permanent solution is yet to be found.

Freeport reported an adjusted profit of $241 million, or 17 cents a share, compared to an adjusted loss of $27 million, or 2 cents per share, in the same period last year. (Reporting by Susan Taylor)

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