Freeport Anxiously Awaiting Green Light for Copper Export

PTFI claims they have yet to receive an export permit for copper concentrate. Hence why Freeport has been unable to export copper concentrates since the export ban on June 10, 2023, even though the export quota has been relaxed by 2.4 million tons during March—June 2023.

Ibeth Nurbaiti

22 Jun 2023 - 20.30
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Freeport Anxiously Awaiting Green Light for Copper Export

PT Freeport Indonesia's mine in Papua./Bisnis/Courtesy of Bloomberg-Dadang Tri

Bisnis, JAKARTA — The Indonesian government's decision to approve an extension for copper concentrate exports, including for PT Freeport Indonesia (PTFI), has brought relief to the US-based company. The export permit for copper concentrate is expected to expedite production processes for PTFI, which operates the Grasberg mine in Papua. 

However, PTFI claims that it has not yet received the export permit, resulting in the company's inability to export copper concentrates since the export ban took effect on June 10, 2023. 

Although the export quota was relaxed by 2.4 million tons from March to June 2023, Freeport's stock of copper concentrates has been accumulating due to the temporary halt in copper concentrate allocation to PT Smelting, which is owned by PTFI and is currently undergoing a 75-day maintenance period.

"We have not received any information regarding the issuance of the recommendation letter. We have stopped exports since June 10, 2023," said Tony Wenas, the President Director of PFTI, on Tuesday (6/20/2023) at the Java Integrated Industrial and Ports Estate Special Economic Zone (JIIPE SEZ) in Manyar, Gresik, East Java. 

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