Indonesia minister says Freeport can resume copper concentrate exports

The Indonesian government has agreed to allow copper miner PT Freeport Indonesia to resume exports of copper concentrate until repairs at its smelter are completed, Energy and Mineral Resources Minister told reporters on Friday.

The government had previously given Freeport an exemption until the end of 2024 from its ban on exports of copper concentrate, as the company was ramping up production at its new Manyar smelter.

However, the smelter was shut down following a fire in October, and repairs are ongoing. Freeport has requested an export quota of 1.3 million tons this year to deal with its rising stocks of copper concentrate.

Minister Bahlil Lahadalia said the government had decided to allow exports by Freeport but would impose export duties on the shipments as a penalty.

He said the government was currently calculating the export volume it would allocate to Freeport.

Freeport Indonesia could not immediately be reached for comment.

(By Bernadette Christina Munthe and Fransiska Nangoy; Editing by John Mair)