Newmont applies for renewal of export permit

Gold and copper giant PT Newmont Nusa Tenggara (NNT) has applied for a renewal of its current permit to export copper concentrates as it is set to expire on November 23 of this year.

NNT Spokesperson Rubi Purnomo said on Monday that the company applied for a recommendation letter earlier this month from the Ministry of Energy and Mineral Resources. The recommendation letter from the ministry is required for the company to be able to get a renewal of the export permit from the Ministry of Trade. ?We have applied (for the recommendation letter) on October 10,? Rubi said, but did not provide further details.

According to the existing regulation, the government renews the export permit for mineral concentrates every six months. The request for a renewal of the export permit comes as export of mineral concentrates will no longer be allowed starting January 2017, according to the existing Government Regulation No 1/2014. The government is currently in the process of revising the regulation to relax the export ban policy so that mining companies such as NNT and PT Freeport Indonesia can continue exporting copper concentrates next year.

NNT?s current export permit was issued on May 24 with export quota of 491,757 tons. Rubi declined to disclose the export quota the company is seeking for under the proposed renewal of the export permit. (*)