ESDM ministry: Freeport export permit under review by Finance Ministry

An expert staff to Indonesian Minister of Energy and Mineral Resources (ESDM) says that the government is finalizing its review into the request for export permit of copper concentrates by PT Freeport Indonesia, with export technicalities being assessed by the Ministry of Finance. "The energy and mineral resources ministry has completed its review into the export permit request by Freeport. They will just have to await the Ministry of Finance regarding the export duties to be imposed," Irwandy Arif said on Friday, June 21, 2024.

He admitted he had heard that something has gone missing in the process of providing all the requirements for the issuance of the export permit, but stopped short of naming it. As earlier reported, PT Freeport Indonesia (PTFI) is targeting an export volume of 900,000 tons of copper concentrate and anode slurry by December 31, 2024. The government has issued a regulation, one point of which provides an extension of the raw mineral export license until the end of 2024, including to Freeport Indonesia.

The extension is stipulated in the ESDM Minister Regulation No.

6/2024 on the Completion of the Construction of Metal Mineral Refining Facilities in the Country. "If I'm not mistaken (the target) is around 900 thousand tons until December (2024)," PTFI President Director Tony Wenas said as quoted by CNBC Indonesia on Thursday, June 20, 2024. "The ministerial regulation has been issued, but the export license is not.

It is being finalised," he added. Manyar smelter Asked about the reason why the government has agreed to grant permission for Freeport's copper export, Irwandy said it was in response to the progress made by Freeport in the construction of its Manyar smelter in Gresik, East Java, which has reached more than 90 percent.

"If it [the construction] was delayed, it would not be possible for the Ministry of Energy and Mineral Resources to issue a permit for export," he said, while adding that the smelter in Manyar will be inaugurated soon.