Local miner, PT Freeport Indonesia (PTFI), has obtained the export quota of 2 million tons (MT) of copper concentrate export for next year. Last year, the unit of American-based Freeport McMoran Inc., (NYSE: FCX) and PT Indonesia Asahan Aluminium allowed to export 1.07 MT and 746,953 MT of copper concentrate in 2019.
Recently, the energy and mineral resources (ESDM) ministry has provided a relaxation for a number of mineral commodities during the COVID-19 pandemic. The minister, Arifin Tasrif, explained that the relaxation was given due to the improvement in mineral commodity prices in the market.
This month, ESDM Ministry has issued the Minister Decree Number 46 of 2021 concerning the recommendation of metal minerals sales during the pandemic. Is said, the mining holders not meet the percentage of physical progress in the construction of a refining facility at least 90% in two periods since the enactment of Presidential Decree Number 12 of 2020 concerning the determining the non-natural disaster of the COVID-19 as a national disaster, can be given a recommendation for export approval.