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Freeport Indonesia finally secures export permit from Trade Ministry

JAKARTA (RambuEnergy.com) – PT Freeport Indonesia (PTFI), a subsidiary of giant US copper and gold miner, has finally secured permit from the Trade Ministry to export concentrates. The permit was given after the company request permit to the ministry on Apr 20, 2017.

The permit was given following a recommendation issued by the Director General for Coal and Mineral Resources of the Energy and Mineral Resources Ministry (ESDM) earlier (No 352/30/DJB/2017) on Feb. 17, 2017.

PT Freeport Indonesia is given permit to export 1,113,105 wet metric tons (WMT) of concentrate until Feb. 16, 2018. said Director General for International Trade at the Trade Ministry Oke Nurwan, as reported by detik.com.

The volume of export permit was similar to the volume of concentrate exports of the company in 2016, totaling 1,172,410.90 WMT.

The export permit was given while Freeport and the Indonesian government continue their talks on the terms of conditions of the Special Mining Permit (IUPK) granted to Freeport earlier. Freeport wants the IUPK terms and conditions to be similar to the existing Contract of Works (COWs).

Freeport is also required to pay export levy of 5% of export value.

With the export permit, Freeport Indonesia can now continue its operation as talks wih the government related with the development of smelter, share divestment and other issues. (*)

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