Extra Grasberg offers appear on copper conc spot market after Freeport receives new export licenses

More Grasberg copper concentrates are being offered to the spot market after Freeport-McMoRan received extra export licenses from the Indonesian government to sell mined output overseas, the miner told Fastmarkets on Friday September 13.

The extra quantities from the world’s second largest copper mine have entered the spot copper concentrates market at a time of tight availability reflected in multi-year-low treatment charges (TC). “The Ministry of Energy and Mineral Resources recently approved the additional quantities,” Freeport-McMoRan spokeswoman Linda Hayes said in an emailed statement, without disclosing the volumes granted in the additional quotas. Local media Jakarta Post reported on Friday that the Energy and Mineral Resources Ministry had raised Freeport Indonesia’s copper concentrate export quota to 700,000 wet metric...

Published

Julian Luk

September 16, 2019

11:11 GMT

London