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PTFI and AMNT Approved for Copper Concentrate Export
WINDONESIA June 19, 2024
Workers traversing PTFI's Grasberg Block Cave (GBC) Mine in Tembagapura District, Mimika Regency, Central Papua on Aug. 17, 2022. (ANTARA/Dian Kandipi).
The Energy and Mineral Resources (ESDM) Ministry has granted copper concentrate export permits to Freeport Indonesia (PTFI) and Amman Mineral Nusa Tenggara (AMNT).
ESDM Minister Arifin Tasrif stated that the total export volume quota for the two companies from June to December 2024 is aligned with their production capacity. The primary focus is to meet the needs of their refining and processing facilities.
"From a year's production, how much [production] could it (the smelter) absorb. The rest is for the export market," Arifin said at the Indonesian House of Representatives (DPR) Building on Jun. 19, 2024.
This export permit policy is outlined in the ESDM Minister Regulation No. 6/2024 on the Completion of Domestic Metal Mineral Refining Facilities Construction. The regulation, signed by Minister Arifin on May 29, 2024, came into effect on Jun. 1, 2024.
Arifin emphasized that the smelter facilities for both companies must be completed by the end of 2024 as per the set targets.
"If it's not finished by the end of the year, we will impose duties again," Arifin explained .
Notably, Amman Mineral Industri (AMIN), a subsidiary of Amman Mineral Internasional, has advanced its copper smelter project in West Sumbawa Regency, West Nusa Tenggara Province to the commissioning stage by the end of May 2024. Independent verification of the smelter's physical progress reported a construction completion rate of 92.3 percent as of Apr. 30, 2024.
Further verification for the end of May 2024 will be conducted in June 2024. The smelter is expected to start receiving copper concentrate to produce the first batch of copper cathodes in the second half of 2024.
Meanwhile, PTFI's copper smelter has commenced the initial delivery of copper concentrate from Amamapare Port in Mimika Regency, Central Papua Province to its smelter at the Java Integrated Industrial and Port Estate (JIIPE) Special Economic Zone (SEZ) in Gresik Regency, East Java Province, which will begin operations in June 2024.
"PTFI's smelter in Gresik is ready to operate so we are starting the first shipment of copper concentrate. This is an important moment for PTFI and Indonesia," PTFI President Director Tony Wenas stated on Jun. 14, 2024.
Tony emphasized that this first delivery of concentrate is significant for PTFI and Indonesia as all of the copper concentrate will now be refined domestically, marking a key step towards advancing Indonesia's downstream industry.
The copper concentrate is expected to arrive at the PTFI Smelter Port in the JIIPE SEZ, Gresik, on Jun. 22, 2024. Once it arrives, the concentrate will be stored in the Concentrate Barn before further processing in the Flash Smelting Furnace.
Source: industri.kontan.co.id
