Indonesia-based mining company PT Freeport Indonesia (PTFI) has successfully obtained a new export permit from the government, allowing the company to continue shipping copper concentrate to foreign buyers until December. This comes after PTFI’s previous export permit expired on May 31, with the company facing a month-long process to secure a new one.
In a statement from United States-based mining giant Freeport McMoRan, it was noted that PTFI will be required to continue paying export duties on copper concentrates during the smelter ramp-up period, as mandated by the government’s regulations. Freeport-McMoran CEO Kathleen L. Quirk and board chairman Richard C. Adkerson expressed their satisfaction with the new permit, emphasizing the significance of the milestone for the company’s new smelter in Indonesia. The completion of the project positions PTFI as a fully integrated producer in Indonesia, providing a foundation to extend its long-term operating rights.
The issuance of the new permit by the government was preceded by the completion of PTFI’s new smelter in Gresik, also known as Manyar. This new facility will increase the company’s processing capacity to 3 million tonnes of copper concentrate per year, a significant improvement from the previous annual rate of 1 million tonnes.
The successful acquisition of the export permit signifies a positive development for PTFI and its operations in Indonesia. It paves the way for the company to fully utilize its new smelter and expand its production capabilities, ultimately contributing to the country’s mining industry.
This achievement is a testament to PTFI’s commitment to compliance with government regulations and its dedication to enhancing its contribution to the Indonesian economy. The company’s efforts to complete the new smelter project in a timely and efficient manner have positioned it for sustainable growth and long-term success in the region.
As PTFI resumes its copper concentrate exports, it is poised to make significant contributions to the global copper market, further solidifying its position as a key player in the industry. The company’s focus on safety, efficiency, and integration in its operations will undoubtedly drive its continued success and ensure its prominent role in Indonesia’s mining sector.
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