financetom
Business
financetom
/
Business
/
Indonesia minister says Freeport can resume copper concentrate exports
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Indonesia minister says Freeport can resume copper concentrate exports
Feb 20, 2025 11:38 PM

JAKARTA, Feb 21 (Reuters) - The Indonesian government

has agreed to allow copper miner PT Freeport Indonesia to resume

exports of copper concentrate until repairs at its smelter are

completed, Energy and Mineral Resources Minister told reporters

on Friday.

The government had previously given Freeport an exemption

until the end of 2024 from its ban on exports of copper

concentrate, as the company was ramping up production at its new

Manyar smelter.

However, the smelter was shut down following a fire in

October, and repairs are ongoing. Freeport has requested an

export quota of 1.3 million tons this year to deal with its

rising stocks of copper concentrate.

Minister Bahlil Lahadalia said the government had decided to

allow exports by Freeport but would impose export duties on the

shipments as a penalty.

He said the government was currently calculating the export

volume it would allocate to Freeport.

Freeport Indonesia could not immediately be reached for

comment.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved