Freeport may have to suspend export
Saturday, July 25 2015 - 05:17 AM WIB
Gold and copper giant PT Freeport Indonesia may have to temporarily suspend its export of copper concentrates as the company failed on Friday to extend its six-month export permit, which expires today (July 25).
?Yes, it will probably be stopped when the (export) permit expires,? said Director General of Mineral and Coal Bambang Gatot on Friday.
He said that the Ministry of Energy and Mineral Resources declined to renew the export permit as the company has yet to fulfill a number of requirements. He declined to disclose what the unfulfilled requirements are.
Among of the key requirements is for PT Freeport to fulfill a number of commitments regarding its promise to develop the required smelter in East Java.
Bambang said that the ministry will continue to discuss with PT Freeport regarding the company?s intention to meet the requirements. He warned that if one of the commitments is not fulfilled, the company would not be able to extend the export permit.
Editing by Reiner Simanjuntak