What’s next after Biden blocked the $15bn Nippon Steel/US Steel deal?
Some analysts warned that blocking the deal could sour relations between the United States and Japan.
PT Freeport Indonesia (PTFI) is in discussions with the government about being able to continue copper concentrate exports until its new Manyar smelter returns to full operations, a spokesperson for the miner said on Friday.
The company was allowed to export copper concentrate until the end of December, as its new smelter was then expected to process its mine output domestically.
However, the Manyar smelter is currently shut down after a fire in October.
Repairs are ongoing and a ramp-up to operations is now expected to begin around mid-year, spokesperson Katri Krisnati said.
“This will certainly have an impact on our concentrate storage capacity both at the Amamapare port and at the PTFI smelter, which will be full going forward,” she told Reuters.
“We are currently discussing with the government to sell concentrate that should be refined at the PTFI smelter abroad until the smelter is fully operational,” she added.
Energy and Mineral Resources Minister Bahlil Lahadalia told reporters the government is considering PTFI’s request and that a decision will be taken in a meeting with President Prabowo Subianto.
Local media reported that PTFI CEO Tony Wenas met with officials of the Coordinating Ministry for Economic Affairs on Friday.
News site Kontan reported that ministry official Elen Setiadi said they discussed plans to quickly repair the smelter.
(By Fransiska Nangoy, Bernadette Christina and Gayatri Suroyo, Editing by John Mair and Jason Neely)
Comments