Freeport obtains extension of export permit

The government will finally extend the export permit of PT Freeport Indonesia following recommendation given by the Ministry of Energy and Mineral Resources.

Director General of Coal and Mineral Bambang Gato Ariyono said on that the ministry will issue the recommendation for the export extension after Freeport fulfilled a set of requirements.

?It (the requirements) has been fulfilled. Tomorrow the extension of export permit for another six months will be issued,? Bambang said on Monday.

He added that Freeport would be given an export quota of 775,000 tons of copper concentrates.

Freeport?s earlier six-month export permit (with export quota of 580,000 tons) expired on Saturday. But as of Friday, the company?s failed to obtain extension of the export permit as it had yet to fulfill a number of requirements including submitting to the ministry report on significant progress of the required domestic smelter project, which the company planned to be built in East Java. This had lead to speculation that Freeport?s activity would be temporarily suspended until it could complete requirements for permit extension. (*)