Published on 21/06/2023 at 08:15 GMT+7 Reading time
The Ministry of Energy and Mineral Resources is yet to issue the recommendation letter allowing mineral export for five companies that have obtained mineral export license.
The five companies are PT Freeport Indonesia, PT Amman Mineral Nusa Tenggara (AMNT), PT Sebuku Iron Lateritic Ores, PT Kapuas Prima Citra, and PT Kobar Lamandau Mineral.
Acting Director General of Mineral and Coal of the Ministry of Energy and Mineral Resources Muhammad Wafid, said that the ministry is still making consideration for issuing the recommendation letter.
Wafid explained that although the policy on relaxation of mineral export has been regulated under Minister of Energy and Mineral Resources Regulation No. 7 of 2023, the recommendation letter must first be issued before export can be carried out.
He also stated that the Ministry of Energy and Mineral Resources is committed in expedite the issuance of the letter following complaints from PT Freeport Indonesia for having difficulties in optimizing their production after their export permit expires on June 10, 2023.
Production resumes
Despite the lack of recommendation letter, PT Freeport Indonesia continues to carry out mining activities. However, the company expressed its concern that it will ran out of storage for concentrates within the next one or two days.
PT Freeport Indonesia is planning to export 2.3 million tons of copper concentrate this year. The number is higher compared to the export quotation recorded in 2022.
The highest number achieved by the company back in 2022 was 3.13 million tons of copper concentrate export with a total transaction value of US$9.23 billion.
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