Freeport, Amman awaiting green light on 2018 Indonesia copper exports – by Fergus Jensen and Wilda Asmarini (Reuters U.K. – February 15, 2018)

https://www.reuters.com/

JAKARTA (Reuters) – The Indonesian unit of Freeport-McMoRan Inc and fellow copper miner Amman Mineral Nusa Tenggara (AMNT) are waiting for last-minute mining ministry approvals to their applications to extend copper concentrate exports, company officials said.

Freeport’s export permit for Grasberg, the world’s second-biggest copper mine, is due to expire on Friday, as is Amman’s permit to ship ore concentrate from its Batu Hijau mine on the island of Sumbawa.

Current rules require Freeport and Amman to reapply for export licences every year, and extensions are often granted only once previous permits have expired, creating logistical headaches for the companies.

Indonesia’s mining ministry is “still evaluating” the applications and will not issue a recommendation today, said Bambang Gatot, Director General of Coal and Minerals.

Freeport obtained a quota to export 1.1 million tonnes of concentrate in the year ended on Feb. 16. The company has applied for almost the same volume this year, Gatot said.

For the rest of this article: https://www.reuters.com/article/uk-indonesia-freeport-exports/freeport-amman-awaiting-green-light-on-2018-indonesia-copper-exports-idUSKCN1FZ0V5

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