Freeport Indonesia has increased its copper output targets for the year, pending approval of an extension of its copper concentrate export permit promised by the government. The company aims to boost copper concentrate production and refined copper output. This move follows a ban on raw mineral shipments in Indonesia, with Freeport Indonesia and another miner granted a dispensation to complete their copper smelter constructions until the end of 2024.
Key Points:
- Freeport Indonesia raised its 2024 copper concentrate output target to 3.78 million metric tons.
- The company also increased its refined copper output target to 1.73 million pounds.
- The Indonesian government is expected to extend the export permit deadline for companies like Freeport Indonesia.
- Freeport Indonesia is aiming to start operations at the JIIPE smelter in early June with copper cathode production expected in August.
- The new regulation includes additional levies on shipments but was not publicly available as of the article’s publication.
Source: https://www.mining.com/web/freeport-indonesia-raises-output-target-awaits-new-export-permit/
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