The Ministry of Trade supports the plan to extend the relaxation of copper concentrate exports for PT Freeport Indonesia (PTFI) until December 2025.
The recommendation was issued during the PTFI Copper Concentrate Export Policy Meeting on Friday, February 7, 2025, led by Coordinating Minister for the Economy, Airlangga Hartarto.
Dyah Roro Esti, Deputy Minister of Trade, said that the support was given by considering various aspects, starting from cost and benefit analysis, its impact on the upstream side, as well as social and economic effects.
“However, we still pay attention to the sustainability of government policies related to the downstreaming of natural resources,” Dyah said on Monday, February 10, 2025.
Bahlil Lahadalia, Minister of Energy and Natural Resources (ESDM), emphasized that until now the government has not issued a copper concentrate export permit for PTFI.
He acknowledged the conditions experienced by PTFI, due to a fire at its processing and refining facility (smelter) in Gresik, East Java, in October 2024, which was a condition of force majeure.
“We are still studying PTFI’s request for a copper concentrate export permit. However, as of today, there has been no decision made to grant the export permit as yet,” Bahlil said on February 3, 2025.
Meanwhile, Freeport McMoran (FCX), the parent company of PTFI, said it plans to resume exporting copper concentrate in the first quarter of 2025, while citing that the smelter built with an investment of around US$3 billion (Rp49,1 trillion) is still under repair.
FCX also stated its readiness to pay export duties of 7.5 percent for copper concentrate exports during 2025. In addition, FCX plans to apply for an extension of PTFI’s special mining business permit (IUPK) which will expire in 2041.
