Commodities
Freeport Seeks to Extend Permit for Exporting Indonesian Copper
- Miner’s permit for raw material exports is set to end in May
- Executives want to keep exporting while new smelter ramps up
Heavy machinery vehicles collect ore deposits at the Freeport McMoRan gold and copper mines in Papua province, Indonesia.
Photographer: Olivia Rondonuwu/AFP/Getty ImagesThis article is for subscribers only.
Freeport McMoRan Inc. will seek Indonesia’s approval to keep exporting mined copper beyond a May deadline to avoid building up stockpiles of concentrates as it ramps up output at a smelter it’s building at Jakarta’s request.
The US miner aims to finish building the new plant in East Java in the second quarter, in what will be a milestone in the Indonesian government’s long-running campaign to build downstream processing capacity in its metals and mining industry.