DG : Freeport`s Actual Export Volume Still Low
The of Energy and Mineral Resources Ministry (ESDM) estimates that the 1.11 million tons export quota copper concentrate obtained by Freeport Indonesia will not be used up by February 17, which is when the miner’s permit will end.
Freeport received that amount of export quota almost a year ago. The US-based mining company has not yet applied for an extension of the ESDM Ministry.
The ministry’s director general of minerals and coal Bambang Gatot Ariyono said Freeport’s copper concentrate export volume is far below the quota given. Meanwhile, the company only has two months left to use up that quota.
According to data from the Energy Ministry, Freeport Indonesia’s copper concentrate exports from April to October 2017 reached 684,000 tons.
Freeport is entitled to apply for an export extension because it has the Special Mining Business License (IUPK) and is building a smelter. However, the extension will only be given after the construction progress of its smelter is evaluated by a team of independent verifiers.
“The evaluation is underway, so it’s not finished yet. There’s still a month left,” said Gatot on Tuesday, Jan. 9.
Freeport Indonesia spokesman Riza Pratama said the company will soon apply for an export extension for its copper concentrates. He said he cannot reveal how much quota the miner will request.