March 8, 2019 / 11:09 AM / a year ago

UPDATE 1-Indonesia approves copper concentrate export allowances for Freeport, Amman Mineral

(Adds 2018 exports allowances, recommendation for Antam)

JAKARTA, March 8 (Reuters) - The Indonesian government has approved one-year export allowances for copper concentrate for miners PT Freeport Indonesia and PT Amman Mineral Nusa Tenggara, officials from the Ministry of Energy and Mineral Resources said on Friday.

Freeport will be given an allowance of 198,282 wet tonnes of copper concentrate, while Amman will get 336,100 wet tonnes, said Yunus Saifulhak, director of minerals at the energy and mining ministry.

Indonesia’s Ministry of Trade will issue the export permits according to the recommendation from the mining ministry.

Last year, Freeport Indonesia, the local mining unit of Freeport McMoRan Inc, obtained an export quota of 1.25 million tonnes of copper concentrate from the government.

Meanwhile, Amman Mineral Nusa Tenggara, a unit of Medco Energi Internasional obtained a quota of 450,826 tonnes.

The government, which took a 51 percent stake in Freeport late last year, has said it expects a big plunge in copper concentrate exports from Freeport’s Grasberg mine as operations move from open pit to underground mining.

The mining ministry has also approved a one-year export allowance of 2.7 million wet tonnes of nickel ore to state-controlled miner PT Aneka Tambang (Antam), Saifulhak added. The volume was similar to last year’s quota. (Reporting by Wilda Asmarini; Writing by Fransiska Nangoy; Editing by Christian Schmollinger and Mark Potter)

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