Freeport gets export permit for concentrate

Jakarta (ANTARA News) - The gold and copper mining company, Freeport Indonesia, managed to obtain a six-month export permit extension for copper concentrate on February 9, 2016.

"Freeport has obtained a permit for copper concentrates export for a period of six months as proposed," Director General of Mineral and Coal, Ministry of Energy and Mineral Resources, Bambang Gatot Ariyono, said here on Tuesday.

The ministry grants extension for copper concentrate export permits for one million tons for the next six months in accordance with the regulations.

"The permission issued today is for one million tons, in accordance with the regulation issued by the Coordinating Minister for Economic Affairs and the Ministry," he said.

According to Bambang, the recommendation was made as the company had responded and was willing to pay an export duty of five per cent.

Meanwhile, the deposit commitment for developing a smelter, amounting to US$ 530 million, is still to be discussed.

"Freeport has responded to the requirement and is willing to meet the five percent export duty condition. Meanwhile, the issue of US$530 million worth of cost will be discussed later," Bambang said.

He said he was optimistic that the company will meet its target of constructing a smelter as the US-based mining company has paid a deposit of US$ 168 million although the obligation to build a smelter has not reached 60 percent.

The recommendation for a copper concentrate export license was issued by the Ministry of Energy and Mineral Resources and was submitted to the Ministry of Commerce as the authority authorized to issue the export license.