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Freeport Indonesia sees 2014 copper output up 12 percent
January 9, 2014 / 4:35 AM / 4 years ago

Freeport Indonesia sees 2014 copper output up 12 percent

JAKARTA, Jan 9 (Reuters) - Freeport McMoRan Copper & Gold expects 2014 copper output from its giant Grasberg mine in Indonesia to increase 12 percent, the local CEO told Reuters on Thursday, provided its exports of concentrate can continue as proposed on Wednesday.

From January, mining companies must process ore before shipping it overseas, part of policies aimed at boosting the value of exports of raw materials from Indonesia, the world’s top exporter of nickel ore, thermal coal and refined tin.

However, the country’s mining ministry has put forward a proposal that would allow Freeport’s exports of copper concentrate from the world’s second-largest copper mine to continue until 2017.

The company sees 2014 copper output at 500,000 tonnes compared to about 445,000 tonnes in 2013, Freeport Indonesia CEO Rozik Soetjipto said in a text message. Gold output in 2014 is seen at 50-55 tonnes, compared to 37.5 tonnes in 2013, he said, an increase of up to 47 percent.

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