Indonesia allows Freeport to export 1.1 million tons of copper concentrate
2017-02-21 15:09:48 [Print]
The Ministry of Mines and Energy of Indonesia announced on 17 February that two major producers in Indonesia, Freeport McMoRan Inc and PT Amman Mineral Nusa Tengarra, were allowed to export copper concentrate.
Mines owned by Freeport McMoRan Inc in the country got the permission of exporting 1.1 million tons of copper concentrate before 16 February, 2018.
Before the announcement, the export had been suspended for above one month, which resulted in the stalemate of copper ore production in Freeport Indonesia Grasberg, and copper prices increased to the highest level for nearly 20 successive months.
The Ministry of Mines and Energy also permitted another copper mine, Amman Mineral Nusa Tenggara, to export 675,000t of copper concentrate, with the due date on 16 February, 2018.
Mines owned by Freeport McMoRan Inc in the country got the permission of exporting 1.1 million tons of copper concentrate before 16 February, 2018.
Before the announcement, the export had been suspended for above one month, which resulted in the stalemate of copper ore production in Freeport Indonesia Grasberg, and copper prices increased to the highest level for nearly 20 successive months.
The Ministry of Mines and Energy also permitted another copper mine, Amman Mineral Nusa Tenggara, to export 675,000t of copper concentrate, with the due date on 16 February, 2018.