JAKARTA (TheInsiderStories) - Ministry of Energy and Mineral Resources (ESDM) on Friday (Feb 17), has issued a recommendation for Export Permit to PT Freeport Indonesia (PTFI) and PT Amman Mineral Nusa Tenggara, after intense talks.
The export recommendations was issued based on the application letter of Freeport Indonesia No.571/OPD/II/2017, dated Feb. 16, 2017. While, the exports recommendation for Amman Mineral was issued based on the application letter of the company No. 251/PD-RM/AMNT/II/2017, dated Feb 17, 2017.
In the application letters, both Freeport Indonesia and Amman Minerals have also committed to the construction of smelter facilities in the country.
The export approval is given with reference to the Regulation of the Minister of Energy and Mineral Resources No. 6 in 2017 and the Trade Minister Regulation No. 1/M-DAG/PER/1/2017, the energy ministry said in a statement.
The energy ministry grants approval to Freeport Indonesia to export 1,113,105 Wet Metric Tonnes (WMT) of copper concentrates as stated in the Approval Letter No. 352/30/DJB/2017, dated February 17, 2017. The granting of export permit is valid from Feb. 17, 2017 until Feb. 16, 2018.
The energy ministry also grants export permit to PT Amman Mineral with a volume of 675,000 WMT of copper concentrates as stated in the Approval Letter No. 353/30/DJB/2017, dated Feb. 17, 2017. The permit is valid from the date of Feb. 17, 2017 until Feb. 16, 2018.
The government will evaluate the progress of the physical development of processing and smelting facilities in the required time period, or at least 6 months, which is verified by an independent agency. If the 6-monthly construction progress is not in accordance with the commitments, the recommendation exports could be revoked.
The energy ministry issued export permit after PT FI obtained permission through IUPK Decree No. 413 K/30/MEM/2017 dated Feb. 10, 2017. Meanwhile, Amman Mineral has obtained IUPK No. 414 K/30/MEM/2017, dated 10 Feb. 2017. (*)