Freeport gets permit to export copper concentrate from Indonesia

JAKARTA, July 25 Fri Jul 25, 2014 10:28am EDT

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JAKARTA, July 25 (Reuters) - Freeport McMoRan Inc has obtained a permit to resume exports of copper concentrate from Indonesia after a six-month stoppage, the head of its Indonesian unit told Reuters late on Friday.

Freeport, Indonesia's top copper producer, is one of the first companies to get an export permit after the government introduced a new rules on mineral exports in January.

"We just have to make some preparations before we can start exporting. In terms of permitting, everything is OK," Freeport Indonesia Chief Executive Rozik Sutjipto said, adding that the firm would now need to pay a higher royalties and a tax on its exports.

"We have signed the MoU (memorandum of understanding) with the government, we have placed a bond for the smelter and we got a recommendation from the director general ... From there we went to the trade ministry and got the export permit," Sutjipto said.

Sutjipto said the firm expected to be able to resume shipments in early August.

"We still have to load the ship, and this may take a few days," Sutjipto said. He said it would take around a week to ramp up concentrate output to normal levels from the massive mine in Papua, up from around 40 percent of those levels at present. (Reporting by Fergus Jensen; editing by Jane Baird)

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