Freeport’s Indonesian copper concs export quota drops by 84% in 2019 on lower output at Grasberg

Copper miner PT Freeport’s export quota issued by the Indonesian government has been lowered by 84% year on year, officials from the country’s Ministry of Energy and Mineral Resources said on Friday March 8.

Under its new export license, Freeport can export 198,282 wet tonnes of copper concentrates this year, compared with 1.25 million tonnes last year. The volume drop was mainly attributed to the significant production fall at the world’s second largest copper mine, Grasberg, which is expected to start from the first half of 2019 when operations transition from open pit to underground mining, the company said in its annual report. The company also forecasts consolidated sales volumes from its Indonesian mining operations of around 600 million lb...

Published

Anna Xu

March 11, 2019

10:57 GMT

Shanghai