Indonesia may cut tax on mineral-concentrate amid standoff with miners, WSJ says Indonesia is considering reducing its export duty on mineral concentrates according to a a government official, says the Wall Street Journal. Copper miners with Indonesian operations like Freeport-McMoRan Copper & Gold (FCX) and Newmont Mining (NEM) have had to curtail operations in the country due to the export tax, added the Wall Street Journal. Reference Link
Freeport McMoRan call activity attributed to takeover speculation Freeport McMoRan May 23 and 23.5 calls are active on total call volume of 14K contracts (1K puts) on takeover speculation. May call option implied volatility is at 34, June is at 40, October is at 38; compared to its 26-week average of 40. Active option volume suggests traders taking positions for wide price movement.